Buyer Tools
Down Payment Calculator Canada — CMHC Insurance & Cash Required
Calculate your minimum down payment, CMHC mortgage insurance premium, closing costs, and total cash needed to close on a Canadian home purchase. All provinces supported.
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Frequently Asked Questions
What is the minimum down payment in Canada?+
The minimum down payment in Canada is 5% of the purchase price up to $500,000, and 10% on the portion between $500,000 and $999,999. For homes priced $1,000,000 or more, the minimum is 20% as CMHC mortgage insurance is not available above that threshold.
What is CMHC mortgage insurance in Canada?+
CMHC (Canada Mortgage and Housing Corporation) mortgage insurance is required when your down payment is less than 20%. It protects the lender if you default. The premium ranges from 2.8% to 4% of the mortgage amount depending on your down payment percentage, and is added to your mortgage — not paid in cash at closing.
How can I avoid paying CMHC insurance?+
You can avoid CMHC insurance by making a down payment of 20% or more. You can also avoid it if the purchase price is $1,000,000 or more, as CMHC does not insure mortgages above that threshold — meaning 20% down is required in all cases.
Does the down payment calculator include closing costs?+
Yes. This calculator shows your total cash required at closing — including your down payment, land transfer tax, legal fees, title insurance, home inspection, and appraisal. Closing costs typically add 1.5%–4% on top of your down payment.