CMHC insurance calculator
What mortgage default insurance costs with less than 20% down — and the part of it you have to pay in cash.
Insurance premium
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The premium schedule
A percentage of the mortgage, set by how much of the price you are borrowing. Nothing about it varies by lender.
| Loan-to-value | Down payment | Premium |
|---|---|---|
| Up to 65% | 35% or more | 0.60% |
| 65.01% to 75% | 25% to 35% | 1.70% |
| 75.01% to 80% | 20% to 25% | 2.40% |
| 80.01% to 85% | 15% to 20% | 2.80% |
| 85.01% to 90% | 10% to 15% | 3.10% |
| 90.01% to 95% | 5% to 10% | 4.00% |
Worked through
| Price | Down | Premium | Ontario tax, in cash |
|---|---|---|---|
| $600,000 | $35,000 · 6% | $22,600 | $1,808 |
| $700,000 | $70,000 · 10% | $19,530 | $1,562 |
| $900,000 | $135,000 · 15% | $21,420 | $1,714 |
The last column is the one to plan for. The premium rides on the mortgage; that 8% tax does not, and it is due the day you close.
What this does not include
- The premium is not a fee you can shop for. The rate is set by loan-to-value, not by lender, so it is the same wherever you borrow.
- Sagen and Canada Guaranty are the private insurers and price broadly in line with CMHC. Your lender chooses; you generally do not.
- The 4.50% band for a non-traditional down payment — borrowed funds rather than savings or a gift — is not offered here. It applies to a minority of buyers and your lender will tell you if it is you.
Rates verified 1 August 2026. An estimate for planning, not advice — your lawyer's statement of adjustments is the number that settles it, and Elixir Real Estate is not a law firm, a lender or a tax adviser.
The part a number does not tell you
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