2025/2026 rates · PST by province · No signup
CMHC Insurance Calculator
Required on all homes under $1.5M with less than 20% down, CMHC default insurance can add thousands to your mortgage. See your exact premium, provincial PST, and monthly payment impact in seconds.
Educational calculators — always consult a licensed professional before making financial decisions.
CMHC insurance applies to homes under $1.5M.
At least 5% required. CMHC applies when you put down less than 20%.
Ontario, Quebec, and Manitoba charge provincial sales tax on the CMHC premium.
8% PST on CMHC premium (paid upfront, not rolled in).
30-year amortization carries a 0.20% CMHC surcharge.
Standard — no surcharge.
CMHC Premium
$24,700
4.00% of your mortgage — rolled into the loan
Provincial Sales Tax (PST) — Ontario
$1,976 PST on the CMHC premium is paid upfront at closing — it cannot be added to the mortgage.
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What you'll need
- ·Purchase price (must be under $1.5M for CMHC to apply)
- ·Your down payment amount
- ·The province where you're buying
- ·Amortization period (25 or 30 years)
What you'll get
- ✓CMHC premium — Based on your down payment tier
- ✓Provincial PST — Where applicable — ON, QC, MB
- ✓Monthly payment impact — Once the premium is added to your loan
How it works
Enter purchase price & down payment
We check if your down payment qualifies for CMHC insurance (under 20%, home under $1.5M).
Select your province
Ontario, Quebec, and Manitoba charge PST on the CMHC premium — paid upfront at closing.
Choose your amortization
30-year amortization carries a 0.20% CMHC surcharge, available to first-time buyers and new-build purchasers.
CMHC Premium by Down Payment
| Down Payment | Premium Rate | On $600K Home | Monthly Added* |
|---|---|---|---|
| 5% ($30K) | 4.00% | $22,800 | $128/mo |
| 10% ($60K) | 3.10% | $16,740 | $94/mo |
| 15% ($90K) | 2.80% | $14,280 | $80/mo |
| 20%+ | None | $0 | $0/mo |
*Monthly estimate at 5.0% rate, 25yr amortization. PST not included.
Authoritative resources
Why Canadian payments differ from American ones
Canadian mortgage interest is compounded semi-annually, not in advance — a requirement of the federal Interest Act — while US mortgages compound monthly. At the same posted rate, the Canadian payment comes out slightly lower.
It is a small difference per month and a large one over an amortization, and it is why a US mortgage calculator gives the wrong answer for a Canadian mortgage. Every calculator on this site’s Canadian pages uses the semi-annual convention.
Term is not amortization
The amortization is how long the mortgage takes to pay off — commonly 25 years. The term is how long your current rate and contract last, usually one to five years. At the end of the term the balance comes due and you renew, at whatever rates exist then.
This is the structural difference from a US 30-year fixed, where the rate is locked for the whole amortization. A Canadian borrower re-prices every few years, which is why what happens at renewal matters as much as the rate you start on.
The stress test you have to clear
Federally regulated lenders must qualify you at the minimum qualifying rate — the greater of your contract rate plus 2% or 5.25% — under OSFI’s Guideline B-20. You are approved on that higher rate, not the rate you will actually pay.
Practically, it means the mortgage you qualify for is smaller than your real payment would suggest. Budgeting off the contract rate and then finding the approval short is one of the most common surprises for first-time buyers.
What the payment does not include
- Land transfer tax, due in cash at closing and charged twice in Toronto, where a municipal tax stacks on the provincial one. See the land transfer tax calculator.
- Property tax, set by your municipality and often collected by the lender alongside the payment.
- Condo fees, which lenders count against your qualifying ratios — commonly at 50% of the monthly fee.
- Legal fees, title insurance and the home inspection, all payable at closing from the same savings as the down payment.
Related Calculators
Canadian Mortgage Calculator
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Mortgage Affordability Calculator
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Land Transfer Tax Calculator
Estimate land transfer tax on top of down payment
FHSA Calculator
Maximize your First Home Savings Account before buying
RRSP Home Buyers Plan Calculator
Use up to $35,000 from your RRSP toward down payment
About this calculator
What are the 2025 CMHC insurance premium rates?+
The 2025 CMHC premium rates are: 4.00% for down payments of 5%–9.99%; 3.10% for 10%–14.99%; and 2.80% for 15%–19.99%. A 0.20% surcharge applies for 30-year amortization (available for first-time buyers and new builds).
Is CMHC insurance required for homes over $1 million?+
Since December 15, 2024, CMHC insurance is available for homes priced up to $1.5 million (raised from $1 million). Homes above $1.5 million require at least 20% down and are not eligible for CMHC insurance.
Do I pay PST on CMHC insurance?+
Ontario charges 8% PST, Quebec charges 9% PST, and Manitoba charges 8% PST on the CMHC premium. This PST must be paid upfront at closing and cannot be rolled into the mortgage. Other provinces have no PST on the CMHC premium.
Can I avoid CMHC insurance?+
Yes — put down 20% or more and CMHC insurance is not required. You can also avoid it by purchasing a home over $1.5 million (which requires 20%+ down). Note that avoiding CMHC often means a higher interest rate from lenders.
Want to try different numbers?
Back to the calculator ↑CMHC Mortgage Insurance Calculator is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.