CMHC Mortgage Insurance Calculator
If you buy with less than 20% down, mortgage default insurance may be part of the cost. This tool separates the premium added to the mortgage from Ontario tax due at closing.
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Your estimate
- Insurance premium
- $19,530
- 3.10% of the base loan
- Minimum down payment
- $45,000
- Ontario tax on premium
- $1,562
- Payable separately at closing; cannot be added to the insured mortgage.
- Mortgage including premium
- $649,530
Uses standard CMHC purchase premium bands and a 25-year amortization assumption. It excludes special programs, non-traditional down payments, portability and lender-specific charges. Homes priced at $1.5 million or more require at least 20% down and are not eligible for default insurance.
How to use this estimate
The estimate uses CMHC's standard purchase premium bands and the federal minimum down-payment thresholds. Product-specific surcharges, discounts and underwriting decisions are not included.
Check the underlying guidance: CMHC: mortgage loan insurance cost