APPLY

CMHC Mortgage Insurance Calculator

See your insurance premium, total mortgage and the cash tax to set aside at closing.

Your purchase

Your down payment10.0%

Minimum down payment for this price: $45,000

The total repayment period. Longer insured amortizations have additional eligibility rules.

Estimated insurance premium

$19,530

3.10% of your mortgage before insurance

Mortgage before insurance
$630,000
Mortgage with premium
$649,530

Ontario tax at closing

$1,562

Paid separately in cash. It cannot be added to your insured mortgage.

Review my purchase

Free review with Mortio. No obligation.

Estimates only, not financial advice or lender approval. Uses standard CMHC purchase premiums for your selected amortization; special programs and lender charges may differ. Your lender confirms eligibility and final costs.

Estimated premium $19,530. Mortgage with premium $649,530. Ontario tax at closing $1,562.

Understand your insurance costs

See what changes the premium and where each cost goes.

More money down can lower both the amount borrowed and the insurance rate.

Examples use a $700,000 home and 25 years. At 10% down, the premium is $19,530; at 15% down, it is $16,660. At 10% down, the mortgage including insurance is $649,530 and Ontario tax is $1,562.

Examples use standard purchase premiums. Your lender confirms the final amount and eligibility. Special programs and non-traditional down payments can change the cost.

Keep planning

What will my payment be?See how your mortgage fits your monthly budget.How much can I afford?Explore a purchase budget based on your finances.

Ready to review your purchase?

Talk through your down payment, insurance and mortgage options with a Mortio mortgage professional.

Review my purchase
FAQ

Frequently Asked Questions

Understand what the premium covers and which costs you need to plan for.

What does CMHC mortgage insurance cover?
Mortgage default insurance protects the lender if a borrower cannot repay. It is different from homeowners insurance and mortgage life insurance.
When do I need mortgage default insurance?
Eligible home purchases with less than 20% down generally require mortgage default insurance. Your lender confirms whether your mortgage and property qualify.
How is the premium calculated?
The premium is a percentage of the mortgage before insurance. The percentage depends on how much of the purchase price you borrow and the selected amortization. This calculator uses standard CMHC purchase bands.
Can I add the premium to my mortgage?
Yes, the premium can be financed with the mortgage. That raises the balance and means you pay interest on the premium. This calculator shows the mortgage with the premium included.
Can I add Ontario tax to my mortgage too?
No. Ontario tax on the premium must be paid separately at closing. This calculator includes that tax as a cash cost.
How does a 30-year amortization change the estimate?
This estimate assumes you qualify as a first-time buyer or are purchasing a newly built home. It adds 0.20 percentage points to the standard premium rate. Your lender must confirm eligibility.
What happens at 20% down?
The calculator shows no default-insurance premium when your down payment reaches 20%. Your lender may still have its own insurance or lending requirements.
Ask us directly