🇨🇦 CMHC Insurance Calculator

What is Mortgage Default Insurance?

In Canada, if your down payment is less than 20% of the home's purchase price, you are considered a "High Ratio" borrower. You are legally required to purchase mortgage default insurance.

This protects the bank (not you) in case you stop making payments. The three providers are CMHC, Sagen, and Canada Guaranty.

Current Premium Rates

5% - 9.99% Down: 4.00% Premium
10% - 14.99% Down: 3.10% Premium
15% - 19.99% Down: 2.80% Premium
20%+ Down: 0% (Not required)

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AI Content Lab Team, "CMHC Insurance Calculator" at https://aicontentlab.ca/finance/cmhc-insurance-calculator from AI Content Lab - Online Calculators, Accessed February 7, 2026.