CHMC Insurance...Explained
When Is CMHC Insurance Required?
In Canada, mortgage default insurance is usually a requirement when you put down less than 20% on your home. The premium will be charged to your lender who will pass the cost to you.
There are some requirements you will need to meet to qualify for mortgage insurance:
- Your insured mortgage will be amortized for no more than 25 years.
- You are making a minimum down payment of 5% on a loan of up to $500,000. A 10% down payment on any amount between $500,000 and $999,999 is required.
- Your home’s purchase price is less than $1 million.
Quick Possession Homes
Featured New Homes For Sale

Carson E – 53031
1549 Sq.Ft. | Bed | Bath
The Uplands at Riverview |
Availability:
Move In Ready!

Cooper D – 53022
1396 Sq.Ft. | Bed | Bath
The Uplands at Riverview |
Availability:
Move In Ready!

Carson D – 53021
1549 Sq.Ft. | Bed | Bath
The Uplands at Riverview |
Availability:
Move In Ready!

Wessex P – 8966
2464 Sq.Ft. | Bed | Bath
The Uplands at Riverview |
Availability:
Move In Ready!

Oasis M2 – 9079
Sq.Ft. | Bed | Bath
Cavanagh |
Availability:
Move In Ready!

Tanner B – 9237
1974 Sq.Ft. | Bed | Bath
Cy Becker |
Availability:
February

Thomas C- 9208
2547 Sq.Ft. | Bed | Bath
Springate, Spruce Grove |
Availability:
February

Trinity G – 9156
2239 Sq.Ft. | Bed | Bath
Sienna |
Availability:
Move In Ready!

Davinci B – 11013
1463 Sq.Ft. | Bed | Bath
Manning Village |
Availability:
Move In Ready!
Disclaimer: This calculator is for illustrative purposes only. Users should not rely on this calculator to make any financial decisions. While every effort is made to keep this tool up-to-date, CMHC does not guarantee the accuracy, reliability or completeness of any information or calculations provided by this calculator. Sterling Homes is not be liable for loss or damage of any kind arising from the use of this tool.