CMHC Mortgage Insurance Calculator
Estimate the CMHC default-insurance premium added to your mortgage when you buy with less than 20% down — Alberta charges no PST on the premium.
CMHC premium
- Premium rate
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- Loan-to-value
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- Mortgage before premium
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- Total mortgage (incl. premium)
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Premiums are 2.80% (15–19.99% down), 3.10% (10–14.99%), and 4.00% (5–9.99%); a non-traditional down payment at 5–9.99% is 4.50%. Alberta charges no PST on the premium.
Assumptions & sources
Rates change. Here is exactly what this calculator uses and when each figure was last confirmed.
- CMHC default insurance premiums by loan-to-value. Required when down payment < 20%. Insured cap raised to $1.5M (Dec 15, 2024). No PST on premium in Alberta.Effective December 15, 2024 · Source
Estimates only — for general information, not financial, mortgage, tax, insurance, or legal advice. Confirm all figures with the appropriate licensed professional.
Frequently asked questions
When is CMHC mortgage insurance required?+
Default insurance is mandatory whenever your down payment is less than 20% of the purchase price. It protects the lender if you default, but you pay the premium. Homes priced over $1.5M are not eligible and require at least 20% down.
How much is the CMHC premium?+
The premium is a percentage of your mortgage that rises as your down payment shrinks: roughly 2.80% at 15–19.99% down, 3.10% at 10–14.99% down, and 4.00% at 5–9.99% down. A non-traditional (borrowed) down payment at 5–9.99% is charged 4.50%.
Do I pay PST on the premium in Alberta?+
No. Some provinces (like Ontario, Quebec, and Saskatchewan) charge provincial sales tax on the CMHC premium, but Alberta does not. Your premium is simply added to your mortgage and amortized over the loan.