Estimate your monthly mortgage payment in seconds — new purchase or existing mortgage, CMHC insurance premium and minimum down payment included, accurate Canadian semi-annual compounding.
This CMHC mortgage calculator uses Canadian semi-annual compounding — required by federal law for all Canadian mortgages — and the current CMHC premium schedule for insured (high-ratio) mortgages.
The CMHC insurance mode above works as a standalone CMHC premium calculator: enter your price and down payment and it applies the current premium table automatically, required whenever your down payment is under 20% of the purchase price (and the price is below $1,500,000). The premium is added to your mortgage principal, not paid separately.
| Loan-to-Value | Premium |
|---|---|
| Up to 80% | 0% |
| 80.01% – 85% | 2.80% |
| 85.01% – 90% | 3.10% |
| 90.01% – 95% | 4.00% |
30-year amortizations (first-time buyers / new builds only) add a 0.20% surcharge on top of the base premium. Ontario also applies 8% PST on the premium itself, due in cash at closing.
The Down Payment field doubles as a minimum down payment calculator — if you enter less than the required minimum, it automatically uses the minimum and shows you the shortfall. Minimums are tiered by purchase price: 5% on the first $500,000, 10% on the portion between $500,000 and $1,500,000, and 20% minimum on any amount at or above $1,500,000.
The Extra Monthly Payment field inside the result card is a built-in mortgage prepayment calculator — enter any extra amount and it instantly shows how much sooner you'll be mortgage-free and how much interest you'll save, in both New Purchase and Existing Mortgage modes.
Most lenders allow prepayment privileges of 10–20% of the original principal per year without penalty — check your mortgage terms for your exact limit before increasing your payment.
Estimates only — your actual rate and insurability depend on lender approval and underwriting. Rates shown are for illustration and are not a rate guarantee.
