Ontario CMHC Insurance Calculator
The calculator below will give you an idea of how much mortgage default insurance (CMHC insurance) might cost. Put in an asking price and down payment amount and it’ll estimate your mortgage insurance premium.
Ontario CMHC insurance calculator
Mortgage default insurance rates (CMHC insurance rates)
To determine which mortgage default insurance premium rate you have to pay, the first step is to calculate how much your down payment is as a percentage of your home’s purchase price. The chart below outlines the premium rates for each down payment scenario:
How do you calculate mortgage default insurance?
To understand how mortgage default insurance is calculated and paid for quickly, watch the video below. Scroll down further for more details on the calculations.
