CMHC Insurance Calculator
Mortgage default insurance
CMHC Mortgage Insurance Calculator
CMHC insurance is required when your down payment is under 20%. Maximum amortization for insured mortgages is 25 years. As of 2024, the insured mortgage price cap is $1.5M. Premium rates: 4.00% (5–9.99% down), 3.10% (10–14.99%), 2.80% (15–19.99%).
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Why Use This
If your down payment is under 20%, Canadian law requires mortgage default insurance (CMHC or private equivalent). This premium is added to your mortgage and affects your total cost. This calculator shows the premium tier based on your down payment and how it impacts monthly payments.
Who Uses This
Buyers with less than 20% down, first-time buyers using minimum down payments, and anyone comparing 5%, 10%, or 15% down scenarios.
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