Depending on your mortgage down payment and property's value, Mortgage default insurance, also known as Canada Mortgage and Housing Corporation (CMHC) Insurance, may be required.
If your down payment is below 20%, CMHC insurance will protect your mortgage lender, who will include insurance cost in mortgage payments.
CMHC Insurance calculator will help you figure out the costs of your insurance premium, just fill the form below. If you want to find out how large of a mortgage you can afford, you can use Mortgage Affordability calculator.
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