Calculate your exact mortgage default insurance premium using the official CMHC rate table. See how much is added to your mortgage, how much PST you owe in cash at closing, and exactly how it affects your monthly payment.
Official CMHC Rates
Instant Results
PST by Province
25 & 30-Year Amort
CMHC Mortgage Default Insurance Calculator
Based on the official CMHC premium schedule. Premiums apply when your down payment is under 20% and the purchase price is $1,500,000 or less. PST is owed in cash at closing in Ontario, Quebec, and Saskatchewan.
Property & Purchase Details
$
$
6.9% down
$100K$1,500,000
$650,000
5%20%
6.9%
Mortgage Details
%
30-year amortization is only available to first-time home buyers or buyers of newly constructed homes with a high-ratio (insured) mortgage. A 0.20% surcharge applies to the premium rate. (Source: CMHC, effective August 1, 2024.)
Additional Options
CMHC Premium Summary
Calculated
Premium Rate
—
of mortgage amount
CMHC Premium
—
added to mortgage
PST at Closing
—
cash — cannot be mortgaged
Total Insured Mortgage
—
incl. premium rolled in
Loan-to-Value (LTV) Ratio
Your LTV — —
0%65%75%80%85%90%95%
≤65% — 0.60%
65–75% — 1.70%
75–80% — 2.40%
80–85% — 2.80%
85–90% — 3.10%
90–95% — 4.00%
Official CMHC Premium Rate Table — Your tier is highlighted
CMHC Eco Plus Refund: If your home qualifies as energy-efficient (EnerGuide rating), you may receive a 25% refund of your premium — approximately —. The full premium is still paid upfront and rolled into your mortgage; the refund is applied separately after qualification. Confirm eligibility with your lender.
CMHC Eligibility Checklist
Estimates only. Actual premium confirmed by your lender and CMHC at time of application. Provincial sales tax rates current as of 2025. Interest rate used for payment illustration only — confirm your rate with your lender before making financial decisions.
What is CMHC Mortgage Insurance & How Does It Work?
Mortgage default insurance — commonly called CMHC insurance — is legally required in Canada whenever your down payment is less than 20% of the purchase price and the home is $1,500,000 or less. It protects the lender (not you) if you stop making mortgage payments. Because lenders are protected, they can offer lower interest rates to high-ratio borrowers.
The premium is added to your mortgage balance — you don't pay it as cash at closing. However, if you live in Ontario, Quebec, or Saskatchewan, your province charges PST/QST on the premium, and that tax must be paid in cash through your lawyer on closing day. It cannot be added to your mortgage.
As of December 15, 2024, insured mortgages are available for homes priced up to $1,500,000 (up from $1,000,000). First-time buyers and buyers of new construction may qualify for a 30-year amortization — the standard maximum is 25 years. The 30-year option carries a 0.20% surcharge on the premium rate, as confirmed by CMHC effective August 1, 2024.
Reduce Your Premium
Each LTV tier has a dramatically different premium rate. Saving just a bit more to cross a threshold — say from 9% to 10% down — drops your rate from 4.00% to 3.10%, saving you thousands. Run this calculator with different down payments to see the impact.
Portability — Don't Pay Twice
If you move and your new home is more expensive, you may only pay a premium on the increased loan amount, not the entire mortgage. CMHC's portability feature provides premium credits up to 100% within 6 months, 50% at 12 months, and 25% at 24 months.
Eco Plus — 25% Refund
Buying or building an energy-efficient home? CMHC Eco Plus offers a 25% partial refund on your premium. The home must meet an eligible EnerGuide rating. Ask your lender whether your purchase qualifies before closing — the application window is limited.
Three Approved Insurers
CMHC, Sagen (formerly Genworth Canada), and Canada Guaranty all charge identical premium rates. Your lender chooses the insurer — you don't. All three are federally regulated and offer the same consumer protections.
Free Mortgage Strategy Session
Speak with Cromsby Real Estate — understand your CMHC costs before you make an offer.
Real Estate Planning Tools
Thinking of Buying, Selling, or Investing?
Run the numbers before you buy, sell, or invest — estimate payments, taxes, affordability, and potential returns in seconds.
