CMHC & Genworth Mortgage Default Insurance Premiums
Purchases:
| Loan-to-Value Ratio | Premium Charged on Total Loan | |||
|---|---|---|---|---|
| Amortization: | 25-Year | 30-Year | ||
| Up to and including 85% | 1.75% | 1.95% | ||
| Up to and including 90% | 2.00% | 2.20% | ||
|
Up to and including 95%: Traditional Down Payment (from own resources) Flex Down Payment (borrowed funds) |
2.75% 2.90% |
2.95% 3.10% |
||
Refinances With No Increase to the Existing Amortization:
| Loan-to-Value Ratio | Premium Charged on the Increased Mortgage Amount |
|---|---|
| Up to and including 85% | 3.50% |
Self Employed Rates:
| Loan-to-Value Ratio | Purchase & Refinance |
|---|---|
| 85.01% to 90% | 4.75% |
| 80.01% to 85% | 2.90% |
Premium Surcharges For Extended Amortizations:
| Surcharges | |
|---|---|
| Greater than 25 years, up to and including 30 years | 0.20% |
For Portability Premiums, please refer to Insurer's website: www.cmhc.ca or www.genworth.ca