Calculate your CMHC mortgage default insurance premium — automatically added to your mortgage when your down payment is less than 20%.
Enter your home price and down payment — results update instantly.
| 5–9.99% down | 4.00% |
| 10–14.99% down | 3.10% |
| 15–19.99% down | 2.80% |
| 20%+ down | Exempt ✓ |
Premium is added to your mortgage — not paid upfront. PST on the premium must be paid upfront at closing.
| Under $500,000 | 5% minimum |
| $500K–$999,999 | 5% on first $500K + 10% on remainder |
| $1M–$1,499,999 | 10% minimum |
| $1,500,000+ | 20% — no CMHC |
See how CMHC affects your monthly payment — our mortgage calculator includes CMHC automatically.
Mortgage Payment Calculator →CMHC (Canada Mortgage and Housing Corporation) mortgage default insurance is required in Canada when your down payment is less than 20% of the purchase price. It protects the lender — not you — in case you default on your mortgage. Despite protecting the lender, the premium is paid by the borrower.
Key fact: CMHC insurance is not the same as home insurance or life insurance. It is mortgage default insurance that protects your lender if you stop making payments. It does not protect you from losing your home.
The CMHC premium is calculated as a percentage of your mortgage amount (not the purchase price). It is added directly to your mortgage balance — so you don't pay it upfront at closing. However, provincial sales tax (PST) on the CMHC premium must be paid in cash at closing in Ontario, Quebec, Manitoba, and Saskatchewan. This PST cannot be added to the mortgage.
As of December 15, 2024, two significant changes expanded access to CMHC insured mortgages: the maximum eligible home price increased from $1,000,000 to $1,499,999, and 30-year amortizations became available for first-time homebuyers and buyers of newly built homes on insured mortgages. These changes significantly expanded affordability options for Canadian homebuyers in high-cost markets like Toronto and Vancouver.