§ Calculator · Housing
Home purchase calculator
What this is
Mortgage and monthly payment from purchase price + down payment, including CMHC insurance.
Down payment below 20% triggers mandatory CMHC mortgage default insurance (or Sagen / Canada Guaranty). The premium gets added to the mortgage principal, you don't pay it cash upfront. Premium rate ladders from 2.8% (15-19% down) to 4% (5-9% down).
- ·5% down: 4.00% premium, capped at $1M purchase price.
- ·10% down: 3.10% premium.
- ·15% down: 2.80% premium.
- ·20%+ down: no insurance required; conventional mortgage.
Down payment
$70,000
CMHC premium
$19,530
Total mortgage
$649,530
Monthly payment
$3,961
LTV
90.0%
Premium rate
3.10%
Minimum down: 5% on first $500k + 10% on portion over $500k. Properties over $1M cannot be CMHC-insured (need 20%+ down).
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting. Budget ~1.5-4% of price for closing costs (land transfer tax, legal, title insurance, inspection).