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Mortgage default insurance premium:
Mortgage default insurance makes up only a very small fraction of your total housing cost. The standard rate varies from 0.50% to 2.75% of the mortgage amount depending on the size of your down payment.
To calculate the premium, multiply the mortgage amount by the premium rate.
For example, if the cost of the home you are buying is $100,000 and you are using a 10% down payment, the mortgage amount is $90,000.
In this case, the premium would be: $90,000 x 2.00%, which equals $1,800.
| Down payment | Premium on total Loan |
|---|---|
| Up to and including 35% | 0.50% |
| Up to and including 25% | 0.65% |
| Up to and including 20% | 1.00% |
| Up to and including 15% | 1.75% |
| Up to and including 10% | 2.00% |
| Up to and including 5% | 2.75% |
See your lender for terms and conditions.
| CMHC/GENWORTH premium Calculator Please insert amount / Down Payment & Click Calculate Note: PST is due the date of closing and is not rolled into a mortgage. |
Zivka Kicic
- Sales Representative -
Direct (647) 407-5519
Not intended to solicit properties currently listed for sale |