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CMHC Mortgage Insurance Calculator — Canada 2026

See your exact CMHC insurance premium at different down payment levels — updated for the December 2024 insured limit increase to $1.5 million.

On a $700,000 home, CMHC insurance adds $16,000–$27,000 to your mortgage depending on your down payment. See your exact premium below.

What Is CMHC Mortgage Insurance?

If your down payment is less than 20% of the purchase price, Canadian law requires you to carry mortgage default insurance — commonly called CMHC insurance, though it can also be provided by Sagen or Canada Guaranty. This insurance protects the lender (not you) if you default on your mortgage, and the premium is added directly to your mortgage balance.

Current CMHC Premium Rates

Down Payment LTV Ratio Premium Rate Premium on $700K Home
5% 95.01% 4.00% $26,600
10% 90.01% 3.10% $19,530
15% 85.01% 2.80% $16,660
20%+ 80% or less None $0
Updated $1.5M Limit
Reflects the December 2024 rule change — insured mortgages now available up to $1.5M purchase price, up from $1M.
LTV Breakdown
See your loan-to-value ratio and exactly which CMHC premium tier applies to your down payment.
Total Mortgage Impact
Shows how the insurance premium increases your total mortgage balance and monthly payment.
Compare Scenarios
See the cost difference between 5%, 10%, 15%, and 20% down payment options side by side.

How Much Income Do You Need to Buy a House in Canada?

CMHC insurance affects your total mortgage balance, which affects your monthly payment and your qualifying ratios. A higher premium means you need more income to pass the mortgage stress test Canada 2026. See exactly what income is required at every price point in our income needed to buy a house in Canada guide.

When CMHC Insurance Makes Sense

Paying an insurance premium to buy sooner isn't always a bad deal. In a market where prices are rising, waiting 2–3 years to save a 20% down payment could cost you more in price appreciation than the premium itself. Factor in your closing costs Ontario 2026 to see the full picture.

First-time buyers should explore the FHSA vs RRSP Home Buyers' Plan Canada 2026 to maximize down payment savings. Since December 2024, first-time buyers can access 30-year amortizations on insured mortgages — reducing monthly payments and improving GDS/TDS ratios.

See your exact CMHC premium, LTV ratio, and total insured mortgage amount — free, no sign-up required.

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Learn More

How Much Do You Need to Buy in Toronto in 2026? → Closing Costs Ontario 2026 — What Buyers Forget → First-Time Buyer Ontario — Complete 2026 Guide → How Much Income Do You Need to Buy a House in Canada? →

This calculator is for educational purposes only and does not constitute financial, mortgage, or legal advice. CMHC premium rates shown are standard rates as of 2026 and may vary based on lender, property type, and individual circumstances. Always consult a licensed mortgage professional. ClearKey is not a licensed mortgage brokerage.