CMHC Mortgage Default Insurance Premium Calculator
Calculate CMHC, Sagen, and Canada Guaranty mortgage default insurance premiums and provincial sales tax on premiums (ON/QC/SK).
Calculate CMHC, Sagen, and Canada Guaranty mortgage default insurance premiums and provincial sales tax on premiums (ON/QC/SK).
Calculate CMHC, Sagen, and Canada Guaranty mortgage default insurance premiums and provincial sales tax on premiums (ON/QC/SK). Calculate exact, penny-accurate projections compliant with 2026 CRA • Bank of Canada standards using Calconova's deterministic IEEE-754 (Decimal.js) calculation engine with instant breakdowns.
CMHC Insurance Premium Added to Mortgage
$19,000.00
Rate: 4% | Total Loan with CMHC: $494,000.00
Down Payment Amount (5%)
$25,000.00
PST Due at Closing (Cash)
$1,520.00
Cannot be financed
CMHC Premium = (Price - Down Payment) × Premium Tier Rate (4.0% / 3.1% / 2.8%)Calculates the mandatory mortgage loan default insurance premium added to your mortgage, and the upfront provincial sales tax payable at closing in Ontario, Quebec, or Saskatchewan.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual CRA tax brackets, provincial taxes, Bank of Canada rates, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult a qualified financial advisor or CPA prior to executing financial commitments.
Mortgage default insurance is required by federal law whenever you purchase a residential home with a down payment of less than 20% (called a high-ratio mortgage). Homes purchased for $1,500,000 or more are not eligible for CMHC insurance and require at least a 20% down payment.
Yes. While the CMHC premium itself is added to your mortgage balance, provincial sales tax (8% in Ontario, 9.975% in Quebec, 6% in Saskatchewan) must be paid upfront in cash upon closing.
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