Mortgage loan insurance is typically needed for homebuyers making a down payment of less than 20% of the purchase price. Offered by the Canadian Mortgage and Housing Corporation (CMHC), this type of loan insurance helps lenders against mortgage default. This mortgage insurance enables consumers to purchase homes with minimum down payments as low as 5% and with favourable interest rates.
CMHC/Mortgage Insurance Calculator
A helpful tool to calculator your mortgage insurance (CMHC).You can find out more about CMHC by visiting their website here. Please be aware that HST is due on the date of closing and is not added to a mortgage.
*Please be aware that this calculator is for indicative purposes only and will offer approximate values.