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What is CMHC insurance?

CMHC stands for Canada Mortgage and Housing Corporation.

It's Canada’s national housing agency that helps make homeownership more accessible and one of its major roles is providing mortgage default insurance for buyers with a downpayment less than 20%. This one-time premium protects your lender and allows you to buy a home with a smaller down payment.

Use this calculator to estimate your CMHC insurance costs and see how it affects your overall mortgage amount.

Simply enter your purchase price, down payment, and mortgage rate to get an instant estimate.

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