CMHC Insurance Calculator
Is your down payment less than 20% of the purchase price? If so, you will be required to get mortgage insurance, which is usually provided by insurance companies such as CMHC, Genworth and Canada Guaranty. Lenders pay an “insurance premium” to obtain mortgage loan insurance. This premium is usually passed down to you, the borrower. The premium is based upon the amount being mortgaged. Our Mortgage Insurance Calculator will generate an estimate based upon your down payment and the mortgage loan amount.