Home Buying
What Is A CMHC Premium?
A CMHC premium — also called mortgage default insurance or mortgage loan insurance — is required by Canadian lenders whenever a homebuyer puts down less than 20% of the purchase price.
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A CMHC premium — also called mortgage default insurance or mortgage loan insurance — is required by Canadian lenders whenever a homebuyer puts down less than 20% of the purchase price.
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Calculate your maximum mortgage or the income needed to qualify, based on Canada’s current GDS/TDS and stress test rules.
Use our CMHC calculator to estimate your mortgage loan insurance premium instantly and understand down payment rules, and total costs.