Your Savvy CMHC Calculator

If you make a down payment of less than 20%, your mortgage is considered high-ratio, meaning you’ll be required to pay for mortgage default insurance (commonly known as CMHC insurance). Mortgage insurance is designed to protect the lender in cases where a borrow defaults. It can be paid in a lump sum upon closing, or in installments over the length of the mortgage. Use the calculator below to determine how much mortgage insurance will cost.