Real Estate

Current CHMC insurance rates

In Aug 2004 we took out a mortgage on a $153,500 condo purchase.

We could put down 0-14% and would have to add 7.95% in CMHC (Canada Mortgage and Housing Corporation) mortgage insurance premiums! Surprised at the high rate? It used to be quite a bit higher for self-employed people compared to salaried employees. We put down 15% ($23,025) which lowered our mortgage insurance to 3.65% ($4,762.38) – still a ton of money on just a $130,475 loan.

But things have improved! In July 2006 CMHC have enhanced and improved their terms for borrowers and now self-employed are treated the same way as salaried people. Right now we’d only have to add 1.75% insurance to our mortgage. Here are the current rates:

Table of CMHC Mortgage Loan Insurance Premiums

Loan Size
(% of Lending Value)
Single Advance Premium
(% of Loan)
Up to and including 65% 0.50%
Up to and including 75%


Up to and including 80%


Up to and including 85%


Up to and including 90%


Up to and including 95%
Traditional Down
Payment Flex Down


Up to and including 100%


Note: See your lender for premium surcharges and other terms and conditions that apply.