CMHC mortgage calculator
Calculate Canadian mortgage payments with CMHC insurance premium and semi-annual compounding for down payments under 20%. Free.
In your browser
Next in your workflow
Also with the canada mortgage calculator
About this tool
Calculate monthly and accelerated bi-weekly payments for Canadian homes with CMHC default insurance premiums added for down payments under 20%.
How to use it
- 1 Enter the home purchase price and your cash down payment.
- 2 Select mortgage amortization term (15, 20, 25, or 30 years) and interest rate.
- 3 Choose your payment schedule (monthly, bi-weekly, or accelerated bi-weekly).
Questions
How much is CMHC insurance on a 5% down payment?
CMHC charges a 4.00% insurance premium on the loan amount when the down payment is between 5% and 9.99%.
Why do Canadian mortgages compound semi-annually?
Under the Canadian Bank Act, fixed-rate mortgages must compound semi-annually by law, which results in slightly lower effective interest than monthly compounding in the US.
When is CMHC mortgage insurance mandatory?
In Canada, CMHC mortgage default insurance is mandatory on any purchase with a down payment under 20%. Premiums range from 2.80% to 4.00% of the loan amount.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
More in Calculators & converters
- Canada paycheck calculator New Calculate Canadian net take-home pay with federal and provincial income taxes, CPP/CPP2 and EI deductions for ON, BC, AB and QC.
- Canada GST / HST calculator New Calculate GST, HST and PST across all Canadian provinces and territories, or reverse-calculate pre-tax amounts from gross receipts.
- RRSP tax savings calculator New Calculate CRA RRSP deduction limits, immediate tax refund savings and compound investment growth until retirement.
- TFSA growth calculator New Calculate Canadian TFSA tax-free compound growth and compare total savings against a taxable investment account.
- CPP & EI deduction calculator New Calculate Canada Pension Plan (CPP, CPP2) and Employment Insurance (EI) statutory payroll deductions and max-out months.
- Land transfer tax calculator New Calculate Ontario and BC land transfer tax, Toronto municipal MLTT and first-time home buyer rebates.