CMHC Mortgage Insurance Premium

If your down payment is under 20 percent, your insured mortgage carries a one-time default-insurance premium. Estimate it here, then talk to us about the full picture.

Your Numbers

Default insurance applies to most mortgages with less than 20 percent down.

Purchase price ($)

Down payment (%)

Enter a percent, or the dollar amount in the second box.

Amortization

Property type

First-time buyer or newly built home

On an insured mortgage, a 30-year amortization is open only to a first-time home buyer or a newly built home.

Estimated insurance premium

Down payment$0

Down payment percent0%

Loan before premium$0

Total mortgage incl. premium$0

APR. OAC. For illustrative purposes only. Subject to change without notice. This is not financial, legal or lending advice.

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This is not an offer of financing, a rate quote, or a guarantee of insurability. Premium rates shown are CMHC's published default-insurance premiums for owner-occupied homes (1-4 units) and small rental properties (2-4 units); private insurers (Sagen, Canada Guaranty) publish comparable schedules. A 0.20 percent surcharge applies to amortizations over 25 years. Owner-occupied insured mortgages require a purchase price under $1.5 million and a down payment of at least 5 percent on the first $500,000 and 10 percent on the portion from $500,000 to $1.5 million; with 20 percent or more down, no default insurance is required. In Nova Scotia the premium is added to your mortgage (no provincial sales tax on the premium). Small rental properties must be non-owner-occupied with 2 to 4 units, purchase price or lending value below $1 million, maximum 80 percent loan-to-value and 25-year amortization. Your actual premium and eligibility depend on the lender, the insurer, and full review. Speak with us for figures specific to you. Mortgage broker services provided by TMG AnchorPoint Mortgage Inc., NS Licence 3000145, NB Licence 260055962, NL Licence 26-07-TM223-1.

What These Numbers Mean

Plain-language definitions and the typical ranges, so you can play with the inputs with confidence.

Purchase price: The agreed price of the home. Insured (default-insured) mortgages require a price under $1.5 million; at $1.5 million or more you generally need a conventional mortgage with at least 20 percent down.
Typical: insured cap is a purchase price under $1.5 million
Down payment: Your cash up front, entered as a percent or a dollar amount. The minimum is 5 percent on the first $500,000 and 10 percent on the portion from $500,000 to $1.5 million. With 20 percent or more down, no default insurance is required.
Typical: 5 percent minimum on the first $500,000, 10 percent above
Amortization: The number of years to pay the mortgage off. Standard is 25 years. A 30-year amortization is available on insured mortgages for first-time buyers and new builds since December 15, 2024, and adds a 0.20 percent premium surcharge.
Typical: 25 years standard; 30 years adds 0.20 percent to the premium
Property type: Owner-occupied 1 to 2 units follows the full premium schedule to a maximum 95 percent loan-to-value. Owner-occupied 3 to 4 units is capped at 90 percent, so the minimum down payment is 10 percent. Small rental (2 to 4 units, non-owner-occupied) requires at least 20 percent down and is insured to a maximum 80 percent loan-to-value.
Typical: owner-occupied 1 to 2 units, owner-occupied 3 to 4 units, or small rental 2 to 4 units
Loan-to-value (LTV): The mortgage divided by the price. It sets your premium band: the less you put down, the higher the percentage. This is often misunderstood, since a small change in down payment can move you into a higher band.
Typical: owner-occupied premium 2.40 percent to 80 percent LTV, 2.80 to 85, 3.10 to 90, 4.00 to 95
Estimated insurance premium: The one-time default-insurance charge, calculated as the premium rate times the loan. In Nova Scotia it is usually added to your mortgage and paid over time, with no provincial sales tax on the premium.
Typical: a one-time charge added to the mortgage, not paid in cash at closing in NS

These are general ranges, not your numbers. The right figure depends on your situation, the property, and the lender. Talk to us and we will pin it down.

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CMHC Mortgage Insurance Premium

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