CMHC Premium Calculator 2026

Estimate your CMHC mortgage insurance premium for 2026. Enter your purchase price, down payment, and province to see the CMHC insurance premium rate, total premium amount, and the real cost over your amortization — including provincial PST in Quebec, Ontario, and Saskatchewan.

Updated: July 29, 2026
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Purchase price
$
Down payment
%
Province
Amortization
years
Interest rate
%
Total CMHC
$
This estimate uses the CMHC premium rate schedule as a proxy for Sagen / Canada Guaranty (small differences may exist).
CMHC rate
Total loan incl. CMHC
$
CMHC insurance premiums and eligibility rules are based on current public guidelines and may change. Actual premiums, taxes, and amortization eligibility may vary depending on borrower profile, property type, province, and insurer or lender requirements.

Down payment decision helper

See how increasing your down payment can help reduce your premium and ease your monthly payments with the chart and table below.

Down payment Premium rate Premium Monthly impact

The real cost over time

The Interest on the premium

Often forgot - Since the premium is added to your loan, you will pay interest on it for the entire amortization period (e.g., 25 years). Our calculator shows you the true total cost.
Total interest cost on the premium
$

Don't forget the tax on premium!

Important: The CMHC premium is added to your mortgage, but the sales/provincial tax on that premium must be paid in cash at the notary. This is a closing cost many buyers forget to budget for!
Tax on CMHC (Paid at notary)
$
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📚 How the premium rate is determined (2026)

We compute the Loan-to-Value (LTV) from your purchase price and down payment, then apply the CMHC rate tier. If your amortization is over 25 years (and the scenario is eligible), a surcharge can apply.

About CMHC mortgage insurance premium

In Canada, if your down payment is below 20% on an eligible home purchase, mortgage default insurance is typically required. The premium is calculated as a percentage of the insured mortgage amount and depends on your down payment percentage.

Enter purchase price and down payment. The calculator converts $/% like the mortgage page and returns the premium rate, premium amount and insured loan total.

Sources

FAQ - CMHC Premium

What is CMHC (and is it the same as "SCHL")?

CMHC (Canada Mortgage and Housing Corporation) is the federal insurer. "SCHL" is simply the French acronym often used in Quebec. Along with private insurers Sagen and Canada Guaranty, they provide mortgage default insurance, which protects the lender if you stop making payments.

When is mortgage insurance required?

It is mandatory in Canada if your down payment is less than 20% of the home price (this is called a "high-ratio" mortgage). If you put 20% or more down, insurance is typically not required.

How is the premium calculated?

The premium is a percentage of your loan amount, based on your loan-to-value ratio. For a 5% down payment, the rate is typically 4.00%. For a 10% down payment, it drops to 3.10%. The calculator applies these rates automatically.

Is the premium added to my mortgage?

Yes. Unlike closing costs which you pay in cash, the CMHC premium is almost always added to your total mortgage balance. This means you pay interest on the premium over the life of your loan.

Why does the calculator show a "Real Cost" of insurance?

Because you finance the premium, it costs you more than just the sticker price. The "Real Cost" includes the interest you will pay on that premium over your 25-year amortization.

Do I have to pay tax on the CMHC premium?

In Quebec, Ontario, and Saskatchewan, provincial sales tax (PST/QST) applies to the premium. IMPORTANT: This tax cannot be added to the mortgage; it must be paid in cash at closing (notary/lawyer).

What is the minimum down payment in Canada?

5% for the first $500,000 of the purchase price. 10% for the portion between $500,000 and $1 million. Homes over $1.5 million require 20% down and are not eligible for mortgage insurance.

Can I get a 30-year amortization with CMHC insurance?

Generally, insured mortgages are limited to 25 years. However, new rules (2024/2026) allow 30-year amortization for first-time homebuyers buying new builds or existing homes.

What is the difference between CMHC and Mortgage Life Insurance?

Common confusion! CMHC protects the lender if you default. Mortgage life insurance (optional) protects you (your family) by paying off the mortgage if you pass away.