Mortgage Blog

New CMHC and Genworth Mortgage Loan premiums

March 17, 2017 | Posted by: Laurie Anne Faulkner

Increase in CMHC and Genworth Mortgage Loan Insurance Premiums MArch 17, 2017CMHC INSURANCE PREMIUM INCREASE

Increase in CMHC and Genworth Mortgage Loan Insurance Premiums

Key Facts

Mortgage loan insurance helps protect lenders against mortgage default and enables consumers to purchase homes with a minimum down payment of 5% with interest rates comparable to those with a 20% down payment. Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price.

Effective March 17, 2017, CMHC and Genworth are increasing their homeowner mortgage loan insurance premiums to reflect its increased capital targets. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including low-ratio refinance premiums.

Effective March 17th, 2017, Purchase (owner-occupied 1 – 4 unit properties) mortgage insurance premiums will be:

Loan-to-Value Ratio


Standard Premium

(Effective March 17th, 2017)


Up to and including 65%


Up to and including 75%



Up to and including 80%



Up to and including 85%



Up to and including 90%



Up to and including 95%



90.01% to 95% –Non-Traditional Down Payment




*Mortgage loan insurance premium is calculated as a percentage of the loan based on the loan-to-value ratio. The premium can be paid in a single lump sum but more frequently is added to the mortgage principal and amortized over the life of the mortgage as part of regular mortgage payments.

The new premium rates will be effective for new mortgage loan insurance requests submitted on or after March 17th , 2017.








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