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Canada · 2026 CMHC · FreeCalculate CMHC mortgage insurance premium for any down payment
2026 rates All down payment tiers Free
CMHC / mortgage default insurance estimates — illustrative rate 5.45% for payment only.
Premium is added to your loan balance. Ontario and Quebec may charge PST on the premium at closing (not included here).
CMHC status
Not Required
With 20%+ down payment, no mortgage insurance needed.
CMHC mortgage insurance (also called mortgage default insurance) is required for all Canadian home purchases with less than 20% down payment on homes under $1,500,000. The premium ranges from 2.80% to 4.00% of the mortgage amount depending on your down payment. On a $600,000 home with the minimum allowed down of $35,000 (about 5.83%), the mortgage before insurance is $565,000 and the CMHC premium at about 4% is roughly $22,600 — added to your mortgage, not paid upfront.
Premiums apply to the mortgage amount before insurance (purchase price minus down payment). Rates shown are typical high-ratio tiers used for estimates.
| Down Payment | Premium Rate | On $500,000 mortgage | On $700,000 mortgage |
|---|---|---|---|
| 5% (minimum) | 4.00% | $19,000 | $26,600 |
| 10% | 3.10% | $13,950 | $19,530 |
| 15% | 2.80% | $11,900 | $16,660 |
| 20%+ | None | $0 | $0 |
This calculator provides estimates only. Premiums, lender rules, and PST may differ. Confirm with your lender or mortgage professional before you commit to a loan.
CMHC mortgage default insurance protects the lender if you default. It is required for essentially all purchases with less than 20% down on homes under $1.5 million in Canada when using an insured mortgage (CMHC, Sagen, or Canada Guaranty).
Typical CMHC premium rates on the mortgage before insurance are about 4.00% with roughly 5% down, 3.10% with roughly 10% down, and 2.80% with roughly 15% down. The premium is added to your mortgage balance and paid over the amortization period.
Yes — by putting 20% or more down on an eligible purchase, or by structuring the deal so the loan is not high-ratio insured. Homes at or above $1,500,000 require at least 20% down, so they are outside CMHC-insured lending rules.
No — CMHC premiums are generally not tax deductible for owner-occupied homes in Canada. (This tool does not provide tax advice.)
CMHC insurance is only available on homes purchased for less than $1,500,000. At or above that price, a minimum 20% down payment applies and high-ratio insurance is not used in the same way.