CMHC mortgage insurance calculator

Put down less than 20% and your lender needs mortgage loan insurance. Here is what the premium costs, what you need as a minimum down payment, and the Ontario sales tax that has to be paid in cash on closing day.

CMHC premium rates

The premium is a percentage of the mortgage, and the percentage depends on the loan-to-value ratio (the mortgage divided by the price).

Loan-to-value	Down payment	Premium (25 years or less)	Premium (30 years)
Up to 65%	35% or more	0.60%	n/a
65.01% to 75%	25% to under 35%	1.70%	n/a
75.01% to 80%	20% to under 25%	2.40%	n/a
80.01% to 85%	15% to under 20%	2.80%	3.00%
85.01% to 90%	10% to under 15%	3.10%	3.30%
90.01% to 95%	5% to under 10%	4.00%	4.20%
90.01% to 95%, borrowed down payment	5% to under 10%	4.50%	4.70%

The rows up to 80% apply when a lender chooses to insure a loan with 20% or more down. Buyers with 20% down usually don't need insurance at all.

30-year amortization and the surcharge

Since December 15, 2024, insured mortgages can run 30 years for all first-time buyers and for anyone buying a newly built home. CMHC adds a surcharge of 0.20 percentage points to the premium rate when the amortization is over 25 years. That is 0.20% of the loan, not 20% of the premium. For example, 4.00% becomes 4.20%. CMHC's Home Start product lists the same 30-year rates.

Minimum down payment and the $1.5 million cap

$500,000 or less: 5% of the price.
$500,000 to under $1.5 million: 5% of the first $500,000 plus 10% of the rest.
$1.5 million or more: 20%. Insured mortgages need a price below $1,500,000 (the cap went up from $1 million on December 15, 2024).

Two federal examples: a $400,000 home needs $20,000 down, and a $600,000 home needs $25,000 + $10,000 = $35,000. On a $1.4 million home the minimum is $115,000. Under the old $1 million cap it was 20%, or $280,000, which matches Finance Canada's "up to $165,000 lower".

Ontario sales tax on the premium

Ontario charges 8% retail sales tax on insurance premiums, and that includes mortgage default insurance. Unlike the premium, the tax can't be added to the mortgage, so your lawyer collects it at closing. Quebec and Saskatchewan also tax the premium. This calculator only works out the Ontario tax.

How it is calculated

mortgage before insurance = price − down payment

LTV = mortgage / price

premium = mortgage × rate for the LTV band (+0.20 percentage points if over 25 years)

Ontario sales tax = premium × 8%   (paid at closing)

total mortgage = mortgage + premium

Example: a $750,000 home with $60,000 down (the minimum is $50,000). The mortgage is $690,000 and the LTV is 92%, so the rate is 4.00%. The premium is $27,600 and the Ontario tax is $2,208 at closing.

This is an estimate for general information. It is not advice about your situation. Check the final numbers with your lender, your real estate lawyer, or the official source.

Sources

Last checked: October 10, 2026