Check out this helpful CMHC Insurance Calculator

CMHC Insurance Calculator

Jumpstart your dreams with the lowest rates available.

Property Value

Down Payment:

CMHC Insurance Premium:

4

Your estimated mortgage amount is

190000

*The calculation is based on the information you provide and is for illustrative and general information purposes only. This should not be relied upon as specific financial or other advice.

Browse calculators by type

Our financial planning calculators help you compar...

It's never been easier to calculate your monthly p...

Check out our loan cal...

Check out our other calculators to see how much yo...

CMHC Insurance Calculator

Calculate how much you are going to pay for your mortgage default insurance or CMHC mortgage insurance. Then, you can decide if buying a property with a cash down of less than 20% is worth it.

Discover Investment Opportunities

Make your money do more.

12 Results

Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

Young investors can trade stocks and ETFs, all for free.
Min Investment
$0
Target Return
Varied
Get 50 Free Trades on Canada's #1 trading platforms.
Min Investment
$0
Target Return
Varied
Get $20 CAD of BTC with promo code: COMPAREWISE
Min Investment
$100
Target Return
4-7%
Earn passive income, start investing in real estate.
Min Investment
$1
Target Return
Varied
Use code KKZH8A when you sign up to get 2 free stocks
Min Investment
$1
Target Return
Varied
Get a $50 bonus when you sign up and deposit $250.
Min Investment
$50
Target Return
Varied
A new passive income asset class, peer-to-peer lending.
Min Investment
$1
Target Return
Varied
Retire up to 30% wealthier with Questwealth Portfolio.
Min Investment
$1
Target Return
Varied
Earn rewards when you buy and sell crypto on BlockFi
Min Investment
$1
Target Return
Up to 8.6%
Buying and seucring gold has never beeng more simple and affordable.
Min Investment
$1
Target Return
Varied
Get a $25 bonus when you sign up and trade.
Min Investment
$10
Target Return
Varied
Online real estate investment in one platform
Min Investment
$25,000
Target Return
9-24%

comparewise

July 25, 2022
Fact Checked

FAQs about our
CMHC Insurance Calculator

Have a different question? Contact us today.

What is a CMHC Mortgage Insurance Calculator?

In Canada, you are required to have mortgage default insurance if your down payment is less than 20%, but what is it and how much does it cost? A CMHC Mortgage Insurance Calculator shows you the true cost of CMHC Mortgage Insurance so you can provide a down payment that makes the most sense for your financial situation.

With a CMHC Mortgage Insurance Calculator, you can test different scenarios to see how changes in the property price and the size of your down payment affect the cost of your CMHC mortgage insurance premium and the total amount of your mortgage. Once you see the true costs of your CMHC mortgage insurance premium, you can make an informed decision about purchasing a house.

Is mortgage default insurance the same as mortgage life insurance?

No. While both have the word “insurance” in their name, mortgage default insurance and mortgage life insurance are two very different things. While mortgage life insurance is not a legal requirement in Canada, mortgage default insurance is legally required for certain borrowers.

What does CMHC stand for?

The Canadian Mortgage and Housing Corporation (CMHC) is a government-owned agency, called a crown corporation, that oversees the housing industry in Canada. After World War Two, The Wartime Housing Corporation was established to help returning veterans secure affordable housing. In 1946, The Canadian Mortgage and Housing Corporation was established to replace the Wartime Housing Corporation. Originally named Central Mortgage and Housing, their focus expanded from war veterans to all Canadians. Its primary purpose was to make safe and secure housing more accessible to low-income families, the elderly, and those with disabilities.

You may also like:

Calculators are a fast, accurate way to predict how your money grows over time. They ca...
Mortgage affordability is an essential part of setting up your home-buying budget, and ...
The business loan calculator below allows you to put in details of 2 loans to compare t...
Use the calculator to get an idea of how much you can borrow and what your monthly or b...
Car loan?
Personal Loan?

Top deals await you just a short
application away!