CMHC insurance calculator
The premium you'll pay with under 20% down, and your minimum down payment.
Insurance premium
$17,100
- Premium rate
- 4.00%
- Loan to value
- 95.0%
- Mortgage before premium
- $427,500
- Total mortgage
- $444,600
| Loan to value | Premium |
|---|---|
| 0% to 65% | Not needed at 20% down |
| 65.00% to 75% | Not needed at 20% down |
| 75.00% to 80% | Not needed at 20% down |
| 80.00% to 85% | 2.80% |
| 85.00% to 90% | 3.10% |
| 90.00% to 95% | 4.00% (you) |
What this means
Mortgage default insurance protects the lender, not you, but it's what lets you buy with less than 20% down. The premium is added to your mortgage, so you pay it off over time.
BC doesn't charge sales tax on the premium, so there's nothing extra to pay at closing.
Estimates only. This isn't advice, a rate quote or a pre-approval. Your real numbers depend on your lender and your approval. Premiums are CMHC's. Sagen and Canada Guaranty publish their own.
Rules last verified: November 3, 2026
Sources and assumptions
- CMHC, Premium information for homeowner and small rental loans
- CMHC, Home Start (minimum equity 5% of the first $500,000 and 10% of the rest, price below $1.5M, 30-year premium table, first-time buyer definition)
- Department of Finance, mortgage reforms (30-year amortization, $1.5M cap, from Dec 15, 2024)
- FCAC, Minimum down payment (modified 2025-10-15)
- The FCAC page still says insurance isn't available at $1 million or more. CMHC and Finance both state the $1.5M cap, so the calculator uses $1.5M.
- Premiums shown are CMHC's. Sagen and Canada Guaranty publish their own tables, which weren't checked.
- No provincial sales tax on the premium in BC.
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