Calculations are estimates only and do not constitute financial advice. Actual rates, fees, and eligibility may vary by lender. Always consult a licensed mortgage professional.
Calculations are estimates only and do not constitute financial advice. Actual rates, fees, and eligibility may vary by lender. Always consult a licensed mortgage professional.
Calculate your mortgage default insurance premium (CMHC / Sagen / Canada Guaranty).
Min 5% for insured. 20%+ = no insurance required
CMHC Premium
AED 22,320
3.1% of mortgage
Total Mortgage
AED 742,320
Base + CMHC added to loan
Ontario PST (8%)
AED 1,786
Paid upfront (not added to loan)
Total CMHC Cost
AED 24,106
Premium + provincial tax
| Down Payment | Rate | Premium |
|---|---|---|
| 5% – 9.99% | 4.00% | AED 28,800 |
| 10% – 14.99% | 3.10% | AED 22,320 |
| 15% – 19.99% | 2.80% | AED 20,160 |
| 20%+ | 0% | AED 0 |
CMHC (Canada Mortgage and Housing Corporation) mortgage default insurance is mandatory for any home purchase with less than 20% down payment. It protects the lender — not you — in case you default on your mortgage. Despite protecting the lender, the borrower pays the premium.
The premium is calculated as a percentage of your mortgage amount and is typically added to your loan balance, meaning you pay interest on it over the life of your mortgage. Provincial sales tax on the premium (where applicable) must be paid upfront at closing.
4.00%
5% – 9.99% down
3.10%
10% – 14.99% down
2.80%
15% – 19.99% down
At 20% or more down payment, no mortgage insurance is required. Three insurers operate in Canada: CMHC, Sagen, and Canada Guaranty — all use the same rate tiers.