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What Is CMHC Insurance?

WHAT IS CMHC INSURANCE?

CMHC Insurance is issued by the Canada Mortgage and Housing Corporation (CMHC).  This is default insurance backed by the Federal Government.

CMHC Insurance is mandatory for all mortgages with less than 20% down.  These mortgages are known as high-ratio mortgages. 

The insurance is added to your mortgage balance.

Loan-to-Value Premium on Total Loan Premium on Increase to Loan Amount for Portability
Up to and including 65% 0.60% 0.60%
Up to and including 75% 1.70% 5.90%
Up to and including 80% 2.40% 6.05%
Up to and including 85% 2.80% 6.20%
Up to and including 90% 3.10% 6.25%
Up to and including 95% 4.00% 6.30%