Default insurance
What will CMHC cost?
Premium tier is set by loan-to-value. Extended amortization adds a surcharge. PST on the premium is paid at closing in four provinces.
Start here · Canada
Get a Canada-ready pre-approval file, not a generic quote.
We shape the file to how Canada underwriters actually read it — closing math, lender appetite, and the small regional details that decide the approval.
Inputs
Result
$26,000
Premium added to your mortgage
- Loan amount$650,000
- Loan-to-value92.9%
- Base premium rate4.00%
- PST on premium (due at closing)$2,080
- 8.00% PST on the premium is due at closing — out of pocket, not added to the mortgage.
Leverage moves
- Crossing 80% LTV (20% down) eliminates the premium entirely on an uninsured mortgage.
- Moving from 95% to 90% LTV drops the premium rate from 4.00% to 3.10%.
- PST on the CMHC premium is paid out of pocket at closing — budget it on top of LTT.
Ready when you are
Turn this number into a pre-approval file.
The math is the easy part. The approval hinges on how the file is packaged — income, down payment source, credit, and property notes underwriters actually read.