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Glossary term

CMHC Insurance

Canadian mortgage default insurance

🇨🇦Canada · Tax Year 2026Reviewed Plain-English
Definition

What is CMHC Insurance?

CMHC insurance is required on Canadian mortgages with less than 20% down payment. Premium ranges from 2.8% to 4.0% of the loan and is typically rolled into the mortgage. Protects the lender (not you) if you default. Alternatives: Sagen, Canada Guaranty.

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