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Mortgage default insurance premium calculator

Put down less than 20% and your mortgage must be insured. See the premium, the Ontario sales tax you pay at closing, and the mortgage once the premium is added.

7.1% · minimum $45,000

Enter your numbers to see the result.

How this tool works

  • CMHC premium on the total loan: 2.80% (80.01–85% loan-to-value), 3.10% (85.01–90%), 4.00% (90.01–95%). Sagen and Canada Guaranty publish similar tiers. Reference: CMHC's own premium calculator, cmhc-schl.gc.ca.
  • A 30-year amortization adds 0.20% (CMHC notice, August 2024) and is only available to first-time buyers and buyers of new builds.
  • Ontario charges 8% retail sales tax on the premium. It is paid at closing and cannot be added to the mortgage.
  • Minimum down payment: 5% of the first $500,000 and 10% of the rest up to $1.5 million; at $1.5 million or more insurance isn't available and 20% is required.

Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.

Read next: Buying a home

Questions about the default insurance (CMHC) premium tool

Who pays mortgage default insurance?

You pay the premium, although the insurance protects the lender. Most people add the premium to the mortgage and pay the sales tax on it in cash at closing.

Is the premium refundable if I sell?

Generally no. Some insurers let you port the insurance to a new home within a set time; ask your broker about portability before you sell.

Can I avoid the premium?

Yes, with a down payment of 20% or more. Whether that is worth delaying a purchase depends on prices, rates and your savings. We can run both cases.

More tools: Mortgage payment · Affordability · Land transfer tax · Stress test · Closing costs

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