CMHC Premium
CMHC mortgage insurance premium calculator.
Federally regulated insured mortgages require CMHC (or Sagen / Canada Guaranty) premium when loan-to-value > 80%. Premium ranges 0.6% to 4.0% of the loan amount based on LTV.
Live math · no calculate button| Canadian semi-annual compounding · OSFI B-20| Ontario + Toronto LTT-aware| Same engine our advisors use
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CMHC premium
$23,200
93.5% LTV
Loan before premium$580,000
Premium added to loan$23,200
Total loan amount$603,200
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Methodology · Canadian-correct
Premium is added to your mortgage and amortized over its term (you don't pay it upfront). PST on premium applies in some provinces (ON, QC, SK, MB) — typically 8% on the premium amount, payable at closing.
Mortgage glossary— terms that matter for this calculator
What is CMHC mortgage insurance?
Default insurance required on any Canadian mortgage with less than 20% down. Three insurers operate: <strong>CMHC</strong> (federal Crown corp), <strong>Sagen</strong> (formerly Genworth), and <strong>Canada Guaranty</strong>. Nearly identical pricing across all three. Premium protects the lender — not the borrower.
How much is the CMHC premium?
Premium tiers (2026): 95% LTV → 4.00%, 90% LTV → 3.10%, 85% LTV → 2.80%, 80% LTV → 0% (uninsured). Premium is a percentage of the loan amount and is almost always financed into the mortgage. On a $500K mortgage at 95% LTV, the premium is $20,000.
Can I pay the CMHC premium upfront instead?
Yes, but almost no one does. The premium is typically financed into the mortgage balance and amortized. Paying upfront saves interest on the premium portion (typically 2-4× the premium over the loan life) but most borrowers prefer the cashflow.
Does my province charge PST on the CMHC premium?
Ontario, Quebec, Saskatchewan, and Manitoba charge PST on the insurance premium. The PST is NOT financed — you pay it at closing. On a $20K premium in Ontario (8% PST), that's an extra $1,600 due at closing.
Insured vs insurable vs conventional — what's the difference?
<strong>Insured</strong>: under 20% down, premium paid by you, lowest rates. <strong>Insurable</strong>: 20%+ down but the lender self-insures via a bulk program to lower their cost of capital — they pass some savings to you (typically 15-25 bps cheaper than conventional). <strong>Conventional / uninsured</strong>: 20%+ down with no insurance, slightly higher rate.