★ CMHC INSURANCE CALCULATOR · MORTGAGE DEFAULT INSURANCE

The cost of putting less than 20% down. Up to 4.00% premium.

CMHC default insurance is mandatory when your down payment is under 20%. The premium scales with Loan-to-Value (LTV) in 5 sharp tiers — and an extra 0.01% past a boundary can cost you thousands. See the cliff chart below.

Home price$650,000

Down payment (7.0%)$45,500

Amortization over 25 years (+0.25% surcharge)

Insured mortgage · CMHC premium applies

CMHC PREMIUM$24,180

YOUR LTV93.00%

PREMIUM RATE4.00%

BASE MORTGAGE$604,500

TOTAL MORTGAGE (incl. premium)$628,680

★ CHART · THE PREMIUM CLIFF ★

Every 5% LTV is a jump

≤ 65% LTV

0.60%

65-75% LTV

1.70%

75-80% LTV

2.40%

80-85% LTV

2.80%

85-90% LTV

3.10%

90-95% LTV

4.00%

Notice the jump: 80.00% LTV is 2.40%, but 80.01% LTV is 2.80%. Same loan size, $400 more in premium per $100k borrowed. Knowing the tier matters more than the rate alone.

★ MIN DOWN PAYMENT RULES ★

The federal sliding scale

$0 - $500,0005% on entire amountExample: $500k home → $25,000 min down

$500,001 - $1,500,0005% on first $500k + 10% on the restExample: $1M home → $25k + $50k = $75,000

Over $1,500,00020% on entire amount$1.6M home → $320,000 min · NO CMHC

Every 5% LTV is a jump

The federal sliding scale

The full closing picture

Mortgage Payment

Affordability

Land Transfer Tax

First-Time Buyer