CMHC Mortgage Insurance Calculator

Instantly Estimate Your Insurance Premium

Understanding the true cost of your mortgage is crucial—especially for Canadians making a down payment of less than 20%. The CMHC mortgage insurance calculator gives homebuyers clear, instant estimates of their mandatory insurance premium, helping to budget and plan for that next big step.

Use our free and interactive calculator below, or scroll down for a detailed walkthrough of how CMHC premiums are determined, what factors affect your insurance, and how to minimize these costs. This page links to our complete CMHC Mortgage Explained guide and other helpful resources in our CMHC learning series.

 

 

Why Use a CMHC Insurance Calculator?

If you’re buying a home and your down payment is less than 20% of the purchase price, you’re required by law to purchase mortgage default insurance—commonly known as CMHC insurance. This premium protects lenders if a borrower defaults while enabling buyers to enter the market with less upfront savings.

  • Get a personalized premium quote in seconds
  • Plan your total borrowing needs with accurate numbers
  • Optimize your down payment to save on long-term costs

Estimate your costs now using our calculator and read our application process page for detailed instructions on getting approved.

 

 

How the Calculator Works

To generate your premium, the calculator uses three inputs:

  1. Home Purchase Price
  2. Down Payment Amount
  3. Amortization Period

The calculator instantly displays the size of your required mortgage and the insurance premium that will be added. Premiums are calculated using the official CMHC rate table—ranging from 2.40% up to 4.00% (or higher for portability/top-ups), based on your down payment as a percent of the home’s purchase price.

See our rules and updates page for the most current premium rates.

 

 

CMHC Premium Rate Table

Loan-to-Value Ratio

Premium Rate

Up to and including 65%

0.60%

Up to and including 75%

1.70%

Up to and including 80%

2.40%

Up to and including 85%

2.80%

Up to and including 90%

3.10%

Up to and including 95%

4.00%

If your amortization exceeds 25 years (and you qualify), a 0.20% surcharge applies.

Full details on premium rates, surcharges, and top-up rules here.

 

 

Sample Calculation

Imagine you buy a home for $600,000 with a $45,000 down payment.

  • Down payment percentage: 
  • $45,000/$600,000=7.5%
  • $45,000/$600,000=7.5%
  • Mortgage before insurance: 
  • $600,000−$45,000=$555,000
  • $600,000−$45,000=$555,000
  • Premium rate for 7.5% down: 4.00%
  • Insurance premium: 
  • $555,000×0.04=$22,200
  • $555,000×0.04=$22,200

Your final mortgage amount will be 

$555,000+$22,200=$577,200

$555,000+$22,200=$577,200.

Try other scenarios with our interactive calculator or see more application examples.

 

 

Tips to Minimize Your CMHC Insurance Cost

  • Boost your down payment above 10% or 15% if possible; even a few thousand dollars can drop your insurance rate by several tenths of a percent and save you thousands over your mortgage term.
  • Leverage government incentives such as the Tax-Free First Home Savings Account (FHSA) or RRSP Home Buyers’ Plan.
  • Consider buying a slightly less expensive property if you’re close to a premium tier.
  • Avoid using borrowed funds for your down payment unless permitted under current CMHC rules—review all qualification rules here.

More savings strategies: CMHC Coverage and Benefits.

 

 

Frequently Asked Questions

How is the CMHC insurance paid?
It is usually added to your principal mortgage amount and repaid over the life of your loan. You do not need to pay it as an upfront lump sum at closing (except applicable sales tax in some provinces, which must be paid in cash).

Is there a CMHC premium refund?
Energy-efficient homes and renovation projects may qualify for a partial premium refund; see our Coverage and Benefits guide for details.

When do I not need CMHC insurance?
If your down payment is 20% or more, or your home price is $1.5 million or above. Find full eligibility rules on the Rules and Updates page.

See more answers in our FAQ.

 

 

Explore More in the CMHC Series

 

Jump to any related page to continue your homebuying education journey.