Minimum Down Payment + CMHC Insurance Calculator
Estimate minimum down payment, mortgage default insurance, Ontario PST, total mortgage, and monthly payment.
Before you use this tool
What it estimates
Estimate minimum down payment, mortgage default insurance, Ontario PST, total mortgage, and monthly payment.
Who it is for
Canadian buyers comparing planned down payment, insured financing, and monthly payment scenarios.
Numbers you need
Purchase price, planned down payment, mortgage rate, amortization, and 30-year insured eligibility where relevant.
What the result means
The tool estimates minimum down payment, any shortfall, mortgage default insurance, Ontario PST, total mortgage, and monthly payment.
Next step
Use the estimate to plan down payment and closing cash, then confirm eligibility and insurer requirements before relying on the result.
Review my down paymentPurchase scenario / Scénario d'achat
Minimum down payment
$50,000
The planned amount meets this estimate.
Loan-to-value (LTV)
92%
Planned down payment: 8%.
Default-insurance premium
$27,600
Estimated premium added to the mortgage when eligible.
Ontario PST on premium
$2,208
8% of the estimated premium; paid in cash at closing and not financeable.
Total mortgage including premium
$717,600
Estimated monthly payment
$4,174
Fixed-rate estimate at 5.00% over 25 years using Canadian semi-annual compounding.
Estimates only / Estimations seulement. Premiums, eligibility, property value, occupancy, credit, lender and insurer rules may change the result. This is not an approval, rate quote, or commitment to lend.
Frequently asked questions
How much is CMHC insurance on a $500,000 home?
With the minimum 5% down payment of $25,000 and a 25-year amortization, this calculator estimates a $475,000 base mortgage and a 4% default-insurance premium of $19,000. In Ontario, the estimated 8% PST on that premium is $1,520 cash at closing. Final premiums, taxes, and eligibility depend on insurer and lender criteria, so these figures are estimates only.
What is the minimum down payment on a $750,000 home?
The calculator estimates $50,000: 5% of the first $500,000, or $25,000, plus 10% of the remaining $250,000, or another $25,000. A larger amount may be required depending on lender criteria, property, credit, or financing type. The maximum purchase price calculator can show how available down payment interacts with an estimated borrowing limit.
Do I need CMHC insurance with a 20% down payment?
Mortgage default insurance is typically not required when the down payment is at least 20%, although lender-specific or property-specific requirements may still apply. Below 20%, an eligible mortgage generally requires default insurance. Even without an insurance premium, legal fees, land transfer tax, adjustments, and other cash items remain; the Ontario closing-cost calculator can estimate those separately.
Who can use a 30-year insured mortgage amortization?
The calculator treats a 30-year insured amortization as available only when the borrower is an eligible first-time homebuyer or the purchase is an eligible new build. It also applies the configured premium surcharge. Actual eligibility depends on current insurer and lender criteria. Conventional mortgages with at least 20% down may have different amortization options, subject to lender approval.
Why is Ontario PST on the insurance premium not added to the mortgage?
The mortgage default-insurance premium is typically added to the mortgage balance, but Ontario's 8% provincial sales tax on that premium is generally payable as cash at closing and is not financeable with the insured loan. The Ontario closing-cost calculator includes this estimated PST alongside other buyer costs. Confirm the final premium and tax with the lender and lawyer.