CMHC / GE Mortgage Insurance Calculator
If you are putting less that 25% down on your house you will need mortgage insurance. Enter the amount your are mortgaging and the insurance premium will be returned. Note: PST on mortgage insurance is due on closing and not added to your mortgage. You should calculate the PST in your final closing costs.
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Canada Mortgage and Housing Corporation (CMHC) is Canada's national housing agency. Established as a government-owned corporation in 1946 to address Canada's post-war housing shortage, the agency has grown into a major national institution. CMHC is Canada's premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. More about CMHC can be found at http://www.cmhc.ca
Note: HST is due the date of closing and is not rolled into a mortgage.
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Mortgage Insurance Premiums Explained
The CMHC Mortgage Loan Insurance premium is calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.
| Loan-to-Value | Premium on Total Loan | Premium on Increase to Loan Amount for Portability and Refinance |
| Standard Premium | Self-Employed without 3rd Party Income Validation | Standard Premium | Self-Employed without 3rd Party Income Validation** |
| Up to and including 65% | 0.50% | 0.80% | 0.50% | 1.50% |
| Up to and including 75% | 0.65% | 1.00% | 2.25% | 2.60% |
| Up to and including 80% | 1.00% | 1.64% | 2.75% | 3.85% |
| Up to and including 85% | 1.75% | 2.90% | 3.50% | 5.50% |
| Up to and including 90% | 2.00% | 4.75% | 4.25% | 7.00%* |
| Up to and including 95% | 2.75% | N/A | 4.25%* | * |
90.01% to 95% —
Non-Traditional Down Payment*** | 2.90% | N/A | * | N/A |
| Extended Amortization Surcharges |
Greater than 25 years, up to and including 30 years: 0.20%
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