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Calculators




CMHC Calculator

Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than 80%. This insurance protects the lender against borrower default.

Note:
Provicial Sales Tax (8%) is applicable on mortgage insurance premiums, is due the date of closing, and is not rolled into a mortgage. Mortgage insurance premiums are exempt from the full Harmonized Sales Tax.


Purchase Price: $
Down Payment: $




Total CMHC: $
Total Provincial Sales Tax : $

Mortgage Insurance Premiums Explained

Mortgage loan insurance premiums are calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.

Loan-to-Value Premium on Total Loan Premium on Increase to Loan Amount for Portability and Refinance
Standard Premium Self-Employed without 3rd Party Income Validation Standard Premium Self-Employed without 3rd Party Income Validation**
Up to and including 65% 0.50% 0.80% 0.50% 1.50%
Up to and including 75% 0.65% 1.00% 2.25% 2.60%
Up to and including 80% 1.00% 1.64% 2.75% 3.85%
Up to and including 85% 1.75% 2.90% 3.50% 5.50%
Up to and including 90% 2.00% 4.75% 4.25% 7.00%*
Up to and including 95% 2.75% N/A 4.25%* *
Extended Amortization Surcharges
Greater than 25 years, up to and including 30 years: 0.20%
 

Direct: 647 964 5191
Email: hassan.treb@gmail.com
Tel: 905 896 3333, Fax: 905 848 5327
1528 Dundas St. W. Mississauga, ON L5C 1E4

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