🇨🇦 CMHC Mortgage Insurance 2026
CMHC insurance premiums, when they apply, how much they cost and how to avoid them. Canada's mandatory mortgage insurance explained.
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Canada Mortgage and Housing Corporation (CMHC) mortgage insurance is required for all home purchases with less than a 20% down payment. It protects the lender (not you) if you default. The premium is added to your mortgage and paid over the life of the loan.
CMHC Premium Rates 2026
| Down Payment | LTV | CMHC Premium |
|---|---|---|
| 5–9.99% | 90.01–95% | 4.00% of mortgage |
| 10–14.99% | 85.01–90% | 3.10% of mortgage |
| 15–19.99% | 80.01–85% | 2.80% of mortgage |
| 20%+ | ≤80% | No CMHC required |
CMHC Example: CA$500,000 purchase, 10% down
- Down payment: CA$50,000 (10%)
- Mortgage: CA$450,000
- CMHC premium: 3.10% × CA$450,000 = CA$13,950
- Added to mortgage: total loan = CA$463,950
Key CMHC Rules
- Maximum insured purchase price: CA$1,500,000 (raised in 2024 Budget)
- Minimum down payment on $500k–$999k: 5% on first $500k + 10% on remainder
- Minimum down payment: 5% (620+ credit score) / 10% (under 620)
- Maximum amortisation for insured mortgages: 25 years (30 years for first-time buyers of new builds from 2024)
- CMHC insurance is NOT available for investment properties — owner-occupied only
Source: CMHC — cmhc-schl.gc.ca. Rates correct as of May 2026. Not financial advice.