Estimate the standard mortgage default insurance premium for a Canadian home purchase with less than 20% down.
Enter a purchase price and down payment.
Estimate only. Insurer and lender rules, property and borrower eligibility, and final premium pricing apply. This is not an approval, a qualification decision, a rate quote, or a mortgage offer.
Review my numbers with Mortgage Wave| Loan-to-value | Down payment | Premium on the mortgage |
|---|---|---|
| Up to 80% | 20% or more | Typically not required ($0) |
| 80.01% to 85% | 15% to under 20% | 2.80% |
| 85.01% to 90% | 10% to under 15% | 3.10% |
| 90.01% to 95% | 5% to under 10% | 4.00% |
These are CMHC's standard homeowner premiums for a purchase. The premium rate applies to the whole mortgage amount, not only to the portion above 80% loan-to-value.
For example, the minimum down payment on a $600,000 home is $25,000 plus $10,000, or $35,000.
These amounts are separate. For a $600,000 purchase with $60,000 down (10%):
| Down payment, paid in cash at closing | $60,000 |
| Mortgage before insurance (90% loan-to-value) | $540,000 |
| Mortgage insurance premium at 3.10%, added to the mortgage | $16,740 |
| Estimated insured mortgage | $556,740 |
| Ontario retail sales tax at 8% of the premium, paid in cash | $1,339.20 |
Not included: land transfer tax, legal fees, title insurance, home inspection, appraisal, property tax and other adjustments, and other closing costs. Budget for these separately. The Ontario land transfer tax calculator estimates one of them.
It uses only CMHC's standard homeowner purchase premiums. It does not model non-traditional down payment premiums, premium increases for porting, refinancing, or adding funds to an insured mortgage, extended amortization surcharges, lender-specific exceptions, or another mortgage insurer's pricing. Your lender and insurer determine eligibility and the final premium.
Reviewed October 6, 2026 against the official sources above. Premiums and rules can change.
It estimates the standard CMHC mortgage default insurance premium for a Canadian home purchase with less than 20% down, using only the purchase price and down payment. It also shows the mortgage before insurance, the insured mortgage after the premium is added, and Ontario's 8% retail sales tax on the premium. It is an estimate only, not an approval or a mortgage offer.
The down payment is your own money put toward the purchase price. The mortgage insurance premium is a separate charge calculated on the mortgage amount: 2.80% for a loan-to-value of 80.01% to 85%, 3.10% for 85.01% to 90%, and 4.00% for 90.01% to 95%. A larger down payment lowers the mortgage and can move it into a lower premium tier.
The premium is commonly added to the mortgage, and this calculator shows it that way, so interest is charged on it along with the rest of the mortgage. Ontario's retail sales tax on the premium is different: it cannot be added to the mortgage.
Yes. In Ontario, the mortgage insurance premium is subject to 8% retail sales tax. The tax cannot be added to the mortgage and must be paid when the mortgage is obtained, so plan for it as closing cash alongside your down payment.
With 20% or more down, high-ratio mortgage default insurance is typically not required, so this calculator shows a $0 premium. This is a general rule, not a lender decision; a lender may still apply its own requirements. Homes priced at $1.5 million or more require at least 20% down.