Hausee — Canada's Home Buying Co-Pilot

Your step-by-step digital co-pilot to navigate the complex Canadian home buying process. Educate yourself, simulate detailed financial scenarios, match with pre-vetted real estate agents, and receive cash back.

CMHC Mortgage Insurance Bands & Premium Scales

If you purchase a home in Canada with a down payment of less than 20%, you are legally required to obtain high-ratio mortgage default insurance, typically issued by the CMHC (Canada Mortgage and Housing Corporation).

Understanding the Premium Tiers:

  • 5.0% to 9.99% Down Payment: Premium rate is 4.00% of the total loan amount.
  • 10.0% to 14.99% Down Payment: Premium rate is 3.10% of the total loan amount.
  • 15.0% to 19.99% Down Payment: Premium rate is 2.80% of the total loan amount.
  • 20.0% or More Down Payment: Premium rate is 0% (No CMHC insurance required).

Note: CMHC premium charges are typically added to your total mortgage principal, while the provincial sales tax (PST) on the premium must be paid out of pocket at closing.