Canada Mortgage Qualifier & CMHC Insurance Calculator
Canada Mortgage Qualifier & CMHC Insurance Result
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Versioned calculationFormula v1.0.0
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Calculated with the versioned 1.0.0 model.
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Method and test recordFormula v1.0.0
- Recorded scope
- Not recorded
- Publisher
- CalculatorGeek
- Recorded review date
- Not recorded
- Next source review
- Not scheduled
- Definition fixtures
- 3 configured scenarios
- Published examples
- 3 shown below
Recorded method
No tool-specific review method has been recorded.
These records describe the published model and reference tests. A test-case count is not a certification of every possible input or an independent specialist review. Editorial policy
Known limitations
Method sources
Reference inputs and expected results
Up to 12 examples from the configured definition fixtures are shown. Expected values use the stated output units; invalid inputs are intended to be rejected.
| Case | Inputs | Expected result |
|---|---|---|
| Reference case | Market and currency: canada; Purchase price: 500000 currency; Down payment: 100000 currency; Down-payment type: traditional; Contract nominal rate: 0 pct; Amortization: 25 count; Gross household annual income: 120000 currency; Annual property tax: 0 currency; Monthly heating cost: 0 currency; Monthly condominium fees: 0 currency; Other monthly debt payments: 0 currency | base_mortgage: 400000; Loan-to-value: 80 %; CMHC mortgage insurance premium: 0; Mortgage including premium: 400000; Qualifying rate: 5.25 % (allowed numeric tolerance: 1.0E-6) |
| CMHC 85 percent LTV band | Market and currency: canada; Purchase price: 500000 currency; Down payment: 75000 currency; Down-payment type: traditional; Contract nominal rate: 3.25 pct; Amortization: 25 count; Gross household annual income: 150000 currency; Annual property tax: 0 currency; Monthly heating cost: 0 currency; Monthly condominium fees: 0 currency; Other monthly debt payments: 0 currency | base_mortgage: 425000; Loan-to-value: 85 %; CMHC premium rate: 2.8 %; CMHC mortgage insurance premium: 11900; Mortgage including premium: 436900; Qualifying rate: 5.25 % (allowed numeric tolerance: 1.0E-6) |
| CMHC non-traditional 95 percent LTV band | Market and currency: canada; Purchase price: 500000 currency; Down payment: 25000 currency; Down-payment type: non-traditional; Contract nominal rate: 5 pct; Amortization: 25 count; Gross household annual income: 150000 currency; Annual property tax: 0 currency; Monthly heating cost: 0 currency; Monthly condominium fees: 0 currency; Other monthly debt payments: 0 currency | base_mortgage: 475000; Loan-to-value: 95 %; CMHC premium rate: 4.5 %; CMHC mortgage insurance premium: 21375; Mortgage including premium: 496375; Qualifying rate: 7 % (allowed numeric tolerance: 1.0E-6) |
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What this calculator answers
Canadian mortgage qualification uses a qualifying rate and debt-service ratios, while mortgage default insurance can increase the financed amount when down payment is below 20%.
Reproduce a transparent Canadian mortgage qualification worksheet without promising lender approval.
Method and calculation order
The model applies the current CMHC owner-occupied premium bands when LTV exceeds 80%, adds the premium to the mortgage, converts the qualifying nominal rate from semi-annual compounding and calculates GDS and TDS.
Worked reference example
A 500,000 purchase with 100,000 down has 80% LTV, so this worksheet adds no CMHC premium. Qualification still uses the greater of the contract rate plus 2% or 5.25%.
How to use the result
Use lender-confirmed income, debts, property tax, heating, condo treatment and premium eligibility. Lenders can apply stricter policies and different insured-mortgage requirements.
What the calculator cannot know
This tool does not determine approval, credit, insurer eligibility, minimum down payment, provincial premium tax, rental treatment, property eligibility or exceptions. Rules checked 2026-10-08.
Frequently asked questions
Does passing the displayed ratios guarantee approval?
No. Lender and insurer underwriting still apply.
Is provincial tax on the premium included?
No. CMHC states that applicable provincial sales tax cannot be added to the loan; enter it in cash-to-close separately.
Primary sources and review status
- CMHC — Mortgage loan insurance cost
- OSFI — Minimum qualifying rate for uninsured mortgages
- FCAC — Mortgage Qualifier Tool
Sources and model boundaries checked 2026-10-08. This new opportunity-map expansion has automated formula, fixture and source QA but has not been represented as human editorial review. Keep the route noindex until CalculatorGeek records a completed YMYL editorial review.