Canadian CMHC Insurance Calculator (2026)

When a borrower's down payment is under 20% of the purchase price, the loan is 'high-ratio' and federally-regulated lenders are required to insure it against default. The borrower pays the premium (capitalized into the mortgage and amortized over the loan term), which protects the lender — not the borrower — against loss if the loan defaults. CMHC, Sagen, and Canada Guaranty are the three federally-licensed default insurers; all three publish identical premium grids.

Three major rule changes took effect December 15, 2024 (Canada Gazette SOR/2025-55): the maximum purchase price for an insured high-ratio mortgage was raised from $1M to $1.5M; first-time buyers can now get a 30-year amortization on insured purchases (was 25y); and any buyer of newly built construction can get a 30-year amortization (was 25y). The minimum down payment formula extended to the new $1.5M ceiling: 5% on the first $500K, 10% on the portion $500K–$1.5M.

The premium is capitalized — added to the loan principal and amortized over the term. The borrower pays it gradually as part of regular mortgage payments. The provincial PST on the premium (in QC, ON, and SK only) is different: that's paid out-of-pocket at closing and cannot be added to the mortgage in most cases. For QC at 9.975% on a $20K premium, that's $1,995 due at closing on top of all other closing costs.

The 1.45% surcharge in this calculator is a simplification. CMHC and Sagen don't publish a flat self-employed surcharge — they publish a separate full premium grid for self-employed-without-traditional-income (Sagen 'Business For Self Alt-A': 1.50% / 2.60% / 3.30% / 3.75% / 5.85% by LTV tier; 95% LTV is not insurable for this borrower class). The flat 1.45% is a documentation-purposes approximation; for production self-employed mortgage planning, request a quote directly from a broker. A future schema upgrade (open task: 'CMHC schema v2 expansion') will replace the flat surcharge with the full grid.

All three are federally-licensed mortgage default insurers and by federal mandate publish IDENTICAL standard premium grids. Lenders choose among them based on lender-side relationships, processing speed, or specific borrower profiles (e.g. Sagen and Canada Guaranty sometimes have more flexible underwriting for non-standard files). To the borrower, the cost is the same regardless of which insurer is used.

Yes — CMHC publishes additional grids and surcharges this calculator doesn't currently model: small rental (1–4 unit, non-owner-occupied), second-home / vacation properties, portability / top-up scenarios, and the full self-employed Alt-A grid noted above. These are scheduled for a future schema upgrade. For purchases of those non-standard property types, the standard premium grid here is NOT the right number — request a CMHC or Sagen quote directly.

No — they're separate. CMHC determines whether the loan is INSURED. OSFI B-20 determines whether the borrower QUALIFIES at the higher stress-test rate. An insured high-ratio mortgage must satisfy BOTH: (1) CMHC's underwriting rules including the premium tiers in this calculator, AND (2) OSFI B-20's qualifying-rate test (GDS ≤ 39%, TDS ≤ 44% at MAX(contract + 2%, 5.25%)).