QUÉBEC MORTGAGE GUIDE
CMHC mortgage insurance premium in Québec: down payment, rates and tax
An eligible home purchase with less than 20% down generally requires mortgage loan insurance. The premium depends on loan-to-value. For standard eligible loans, CMHC’s indicative premium is 4.00% above 90% through 95% LTV, 3.10% above 85% through 90%, and 2.80% above 80% through 85%. Surcharges may apply to some insured loans.
Use these explanations to compare scenarios in our calculator without registering. Estimates are not lending offers or binding mortgage terms.
How is CMHC mortgage insurance calculated?
An eligible home purchase with less than 20% down generally requires mortgage loan insurance. The premium depends on loan-to-value. For standard eligible loans, CMHC’s indicative premium is 4.00% above 90% through 95% LTV, 3.10% above 85% through 90%, and 2.80% above 80% through 85%. Surcharges may apply to some insured loans.
Minimum down payment rules
For purchases up to $500,000, the usual minimum is 5%. From $500,000 to under $1.5 million, the minimum is 5% of the first $500,000 and 10% of the remainder. At $1.5 million or above, this mortgage insurance is unavailable and at least 20% down is generally required.
Québec insurance premium tax: 2026 versus 2027
The provincial insurance premium tax is 9% for premiums paid before January 1, 2027, and 9.975% afterward. It is different from ordinary Québec sales tax and cannot be added to the mortgage balance. For a $12,000 premium, the separate tax is $1,080 in 2026 and $1,197 in 2027.
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A practical comparison to make
The insurance premium can generally be added to the mortgage; Québec’s tax on that premium cannot. The amount financed and the cash required at closing are therefore two different figures.
Check the free mortgage calculator with your own figures. Its optional homeownership-budget section also allows you to enter taxes, insurance and condo fees without sending data to a server.
Example: 5%, 10% or 20% down?
| Down payment | Estimated premium | Separate tax |
|---|---|---|
| 5% — $22,500 | $17,100.00 | $1,539.00 |
| 10% — $45,000 | $12,555.00 | $1,129.95 |
| 20% — $90,000 | $0.00 | $0.00 |
These are standard indicative insurance-premium figures for the stated scenario, not a commitment to approve a loan or waive lender-specific costs.
Computed with the same Canadian semiannual-compounding engine as Isabelle’s calculator; figures are rounded to cents.