| Down Payment | Premium Rate |
|---|---|
| 5% – 9.99% | 4% |
| 10% – 14.99% (You) | 3.1% |
| 15% – 19.99% | 2.8% |
| 20%+ | No insurance needed |
CMHC Insurance Premium
$13,950
3.1% of mortgage
A broker can help you find the best mortgage rate and minimize insurance costs.
Get MatchedSave for 20% down payment
The single best way to avoid mortgage insurance entirely.
Use RRSP Home Buyers' Plan
Withdraw up to $35,000 from RRSP tax-free for your first home down payment.
Get a gifted down payment
Family gifts for down payment are accepted by CMHC. Get a gift letter.
Consider a shorter amortization
While not reducing the premium rate, shorter amortizations mean less total interest paid.
Disclaimer
This calculator provides estimates based on current CMHC rates. Actual premiums may vary based on the insurer (CMHC, Sagen, or Canada Guaranty), property type, and other factors. Consult a mortgage broker for precise figures.