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How much does CMHC insurance cost in Quebec?
Instant calculation using the 2026 CMHC schedule. Enter your purchase price and down payment — we show you the premium, Quebec QST, total loan and estimated monthly payment.
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Enter a price and down payment to see the calculation.
2026 schedule (unchanged since 2016)
| Down payment | LTV ratio | CMHC premium |
|---|---|---|
| 5 – 9,99 % | 90,01 – 95 % | 4,00 % |
| 10 – 14,99 % | 85,01 – 90 % | 3,10 % |
| 15 – 19,99 % | 80,01 – 85 % | 2,80 % |
| ≥ 20 % | ≤ 80 % | None |
Source: CMHC Loan Insurance Premium Schedule 2026. Identical schedules at Sagen and Canada Guaranty.
Frequently asked questions
Is CMHC insurance mandatory in Quebec?
Yes, if your down payment is less than 20% of the purchase price. It's a federal rule (Bank Act) that applies to any insured mortgage in Canada. Three insurers provide this coverage: CMHC (federal), Sagen (private) and Canada Guaranty (private). All three apply the same premium schedule.
Can you pay the CMHC premium in cash at closing?
Yes, but most buyers roll it into the loan (default option) to preserve liquidity. Note: the 9.975% QST on the premium must be paid in cash at signing in Quebec — a sum often forgotten in calculations.
Can CMHC insurance be removed later?
No — once attached to a loan, the premium stays until the term ends even if your equity grows. To eliminate it, you must refinance (new notarial deed + full qualification) once your LTV is below 80%. An AMF broker calculates if the operation is worthwhile.
CMHC vs Sagen vs Canada Guaranty — what is the difference?
No rate difference (the three insurers are aligned by market agreement). The difference is on the lender side: each bank has its preferred insurer. An AMF broker knows which one your target bank uses.
Why is the maximum CMHC price $1 million?
Above $1M, the federal government considered these to be "luxury" properties that must be financed via conventional mortgage (20% minimum down). For a purchase > $1M, no Canadian insurer offers premium coverage.
Can I reduce the premium by increasing my down payment?
Yes — each bracket counts. Moving from 5% to 10% down reduces the premium from 4.00% to 3.10%. From 10% to 15%, to 2.80%. At 20%, it disappears completely. An AMF broker calculates the profitable threshold for your file.