I am trying to calculate how much CMHC fee I will need to pay if I can only put in 10% downpayment on a new home as opposed to 20%.

So as per this calculator: enter image description here

It shows:8640.

My question is: is the amount 8640 the total premium over the 5 yr term of the mortgage, or is it the premium I pay for each of the first 5 years of the mortgage? I assume that after five years, my total equity would become at least 20%, hence on the subsequent term I need not pay any CMHC fee.


  • Hi Victor, can you slip in a link to the site the calculator came from? – JTP - Apologise to Monica Mar 20 '15 at 19:25
  • Have you tried clicking on the link that says "See Table of Premiums (opens in a new window)"? – Dilip Sarwate Mar 24 '15 at 19:48

It's a one time payment, usually just added to the mortgage. You will have a mortgage of $400k +$8,640 - the $40k downpayment = $368,640. The mortgage will be insured for the entire life of the mortgage regardless of the term you choose.

| improve this answer | |
  • Or, as the image shows, it can be paid in a lump sum up front. – Dilip Sarwate Mar 24 '15 at 19:50

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