CMHC Insurance Calculator

Asking Price


Go

 STEP 1
Enter the price of the home you’re interested in and press GO.

Down payment
    



 

Down payment
The amount of money you pay up front to obtain a mortgage. The minimum down payment in Canada is 5%. For down payments of less than 20%, home buyers are required to purchase mortgage default insurance, commonly referred to as CMHC insurance.








minus



Amortization period
    



 

Amortization period
The length of time it will take a homeowner to pay off his/her mortgage. In Canada, the maximum amortization period for insurable mortgages is 25 years. Longer amortization periods allow homeowners to make smaller monthly payments, but equate to more interest paid over the life of the mortgage.




 
 

STEP 2
Choose an amortization period.





Mortgage insurance
    



 

Mortgage insurance
Mortgage default insurance, commonly referred to as CMHC insurance, protects the lender in the case the borrower defaults on the mortgage. Mortgage default insurance is required on all mortgages with down payments of less than 20%, which are known as high ratio mortgages. Mortgage default insurance is calculated as a percentage applied to your mortgage amount.




plus
Total Mortgage Required equals $- $- $- $-

Select rate




Provider Rate Select
Loading...Loading…
Custom rate Select