Calculate your required mortgage default insurance premium. Updated for 2026 with the expanded $1.5M insured mortgage cap.
Canada only
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CMHC Insurance Details
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Results
Down Payment %
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CMHC Rate
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Insurance Premium
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PST on Premium (at closing)
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Total Mortgage
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Monthly Payment
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2026 CMHC Premium Rates
Down Payment
Rate
On $500K loan
5% – 9.99%
4.00%
$20,000
10% – 14.99%
3.10%
$15,500
15% – 19.99%
2.80%
$14,000
20%+
No insurance required
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💡 2025 update: Insured mortgage cap raised from $1M to $1.5M (Dec 2024), allowing buyers in high-cost markets to access insured mortgages with under 20% down on homes up to $1.5M.
Frequently Asked Questions
No. CMHC mortgage default insurance protects the lender if you default. Home insurance protects your property from fire, theft, and damage. Both are typically required if your down payment is under 20%.
PST on the premium must be paid at closing — it cannot be added to the mortgage. In Ontario, a $15,500 CMHC premium incurs $1,240 in PST due at closing. Budget for this in your closing costs.
5% for homes up to $500,000. 5% on first $500K + 10% on the portion from $500K–$999,999 for homes in that range. 20% minimum for homes $1M–$1.49M (unless first-time buyer new build). 20% minimum for all homes $1.5M+.
CMHC premiums are generally not refundable once the mortgage is funded. However, if your buyer assumes your mortgage, CMHC coverage transfers — no new premium required.
⚠️ Canada only. Rates current 2025. Consult your mortgage broker for exact costs.
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