CMHC Premium Calculator

Estimate the mortgage default insurance premium for a high-ratio mortgage (less than 20% down). Insured mortgages cap at a 25-year amortization — 30 years is available only to first-time buyers or new builds.

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Purchase priceInsurable up to $1,500,000.Down payment5% on the first $500k, 10% on the portion above.First-time buyer or new buildEnables a 30-year amortization (standard insured max is 25 years) and adds a 0.20% premium surcharge.

$22,800

CMHC premium

Loan-to-value: 95%
Premium rate: 4%
Premium added to mortgage: $22,800
Mortgage + premium: $592,800
Ontario RST on premium (8%, due at closing): $1,824

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Ontario-specific: the 8% provincial RST on the premium is payable at closing and cannot be added to your mortgage. Premium rates and the 30-year surcharge follow current CMHC homeowner guidelines; Sagen and Canada Guaranty premiums are comparable.

Terms, in plain language

Mortgage default insurance (CMHC): Insurance that protects the lender when you put down less than 20%. It lets you buy with a smaller down payment, and the premium is added to your mortgage.
Loan-to-value (LTV): How much you are borrowing compared to the home’s value. 95% LTV means a 5% down payment. The higher the LTV, the higher the insurance premium.
Ontario RST: An 8% provincial sales tax charged on the insurance premium in Ontario. Unlike the premium itself, it must be paid in cash at closing and cannot be added to the mortgage.