How much do I need for a down payment?
Enter the home price. The calculator applies the federal minimum down payment rules and shows what mortgage loan insurance would add at each down payment.
Your estimate
What the calculator assumes.
Minimum down payment. 5% of the first $500,000, 10% of the part from $500,000 to $1.5 million, and 20% of the whole price at $1.5 million or more. Source: Financial Consumer Agency of Canada and the Department of Finance (price cap of $1.5 million from December 15, 2024).
Insurance premium. Required when you put down less than 20%. Rates are CMHC’s premiums on the total loan, plus 0.20% for an amortization over 25 years. Source: CMHC. Other insurers set their own premiums, usually close to these.
Not included. Closing costs, land transfer tax and provincial sales tax on the premium. Lenders can ask for more than the minimum.