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Down Payment & CMHC Insurance

Check minimum down payment rules, mortgage default insurance, and premium tax.

Inputs

Results

Down payment %
6.7%
Loan-to-Value (LTV)
93.3%
Minimum required down payment
$50,000
Mortgage (before premium)
$700,000
Insurance premium rate
4.50%
Insurance premium
$31,500
Premium tax (ON 8%)
$2,520
Total mortgage incl. premium
$734,020

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Educational purposes only. Actual qualification depends on lender/insurer policies. Properties ≥ $1M require 20% down and are not eligible for insured mortgages.