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.
Your inputs
Canada's three default insurers price almost identically — your lender chooses which one to use.
Your insured mortgage
The CMHC premium (93.5% LTV) is added to your base mortgage and amortized — not paid upfront.
Lender-ready summary, your assumptions baked in, and a personalized note from an advisor at Mortgage Squad Advisors.
How CMHC mortgage insurance premiums work in Canada
When you buy a home with less than 20% down, federal rules require mortgage default insurance — provided by the Canada Mortgage and Housing Corporation (CMHC), Sagen (formerly Genworth), or Canada Guaranty. All three are priced almost identically; your lender chooses which insurer to use. The premium protects the lender if you default, but the cost is yours. It is calculated as a percentage of the mortgage amount based on your loan-to-value (LTV) ratio — the higher your LTV, the higher the premium rate.
Premium rates by loan-to-value (2026)
The premium climbs in steps as your down payment shrinks. A 5%-down buyer (95% LTV) pays the top 4.00% rate; a 20%-down buyer pays nothing because the mortgage is conventional and uninsured.
| Loan-to-value (LTV) | Premium on loan amount |
|---|---|
| Up to 65% | 0.60% |
| 65.01% – 75% | 1.70% |
| 75.01% – 80% | 2.40% |
| 80.01% – 85% | 2.80% |
| 85.01% – 90% | 3.10% |
| 90.01% – 95% | 4.00% |
| 20%+ down (conventional) | No premium |
The premium is added to your mortgage — not paid upfront
Unlike land transfer tax or legal fees, the CMHC premium is almost always financed into your mortgage balance and paid off over the amortization. The donut above shows how your base loan and premium combine into the total you actually borrow. One cash exception: Ontario, Quebec, Saskatchewan, and Manitoba charge PST on the premium (typically 8%), and that sales tax is due at closing rather than financed. Plan for it alongside your other closing costs.