CMHC Mortgage Insurance Calculator
See exactly what mortgage default insurance will cost based on your down payment, using the current CMHC rate table. Built for Alberta buyers — where, unlike most provinces, there is no sales tax added to the premium.
$45,000 down
Used to show the monthly cost of the premium
Your CMHC insurance premium
$12,555
3.1% of your $405,000 loan
Loan-to-value
90%
Added to mortgage
$417,555
loan + premium
Adds to your payment
$69/mo
at 4.49% over 25 yrs
Down payment
$45,000
10% of price
In Alberta there is no provincial sales tax on the premium — buyers in Ontario, Quebec, Saskatchewan, and Manitoba pay PST on top of this amount, but you do not.
What CMHC insurance actually is
Mortgage default insurance protects the lender, not you, if you stop making payments. It is mandatory whenever you put down less than 20%, and it is what lets Canadians buy with as little as 5% down. Three companies provide it — CMHC, Sagen, and Canada Guaranty — and the premium rates are effectively the same across all three.
The premium rate table
| Down payment | Loan-to-value | Premium |
|---|---|---|
| 5% – 9.99% | 90.01% – 95% | 4.00% |
| 10% – 14.99% | 85.01% – 90% | 3.10% |
| 15% – 19.99% | 80.01% – 85% | 2.80% |
| 20% or more | 80% or less | None |
A 30-year amortization adds a 0.20% surcharge on insured mortgages. Homes priced at $1,500,000 or more cannot be insured at all, so they require at least 20% down.
The Alberta advantage
Here is something many buyers miss: four provinces charge provincial sales tax on the CMHC premium, and that tax has to be paid in cash at closing. Alberta does not. On a $12,555 premium, an Ontario buyer would owe an extra $1,004 up front in PST. In Alberta you pay only the premium, and you finance it inside the mortgage.
Frequently asked questions
Do I have to pay CMHC insurance?+
Only when your down payment is under 20% of the purchase price. CMHC (or one of the private insurers, Sagen and Canada Guaranty) insures the lender against default. With 20% or more down, your mortgage is conventional and there is no premium at all.
How much is CMHC insurance on a $450,000 home with 10% down?+
The premium is 3.10% of the loan. On a $450,000 home with $45,000 down, you borrow $405,000, so the premium is about $12,555. It gets added to your mortgage rather than paid up front, which adds roughly $69 a month to a 25-year payment at 4.49%.
Is the CMHC premium paid up front or added to the mortgage?+
It is almost always added to your mortgage and paid off over the amortization, so you finance it rather than write a cheque at closing. That convenience is also why a smaller down payment costs you twice — a bigger loan and interest on the premium itself.
Does Alberta charge tax on the CMHC premium?+
No. Ontario, Quebec, Saskatchewan, and Manitoba charge provincial sales tax on the CMHC premium, and that tax must be paid up front at closing. Alberta has no provincial sales tax, so Alberta buyers pay only the premium itself — a real saving compared with those provinces.
How do I avoid CMHC insurance?+
Put down 20% or more. That moves you to a conventional mortgage with no premium. On a $450,000 home that threshold is $90,000. If you are close, it can be worth waiting or finding the extra few thousand, because crossing 20% removes the premium and lowers your payment.
What are the CMHC premium rates?+
They are set federally by down payment: 4.00% with 5% to 9.99% down, 3.10% with 10% to 14.99% down, and 2.80% with 15% to 19.99% down. A 30-year amortization (available to first-time buyers and new-build buyers) adds a 0.20% surcharge.
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Estimates are for general information only and are not financial advice or a mortgage approval. Rates, premiums, and rules were last reviewed 2026-06-01. Confirm exact figures with your lender, lawyer, and a hômm REALTOR®.