If you want to buy a home with a down payment of less than 20%, you’ll need mortgage loan insurance. This protects your lender in case you can’t make your payments. Mortgage default insurance, referred to as CMHC insurance, is mandatory in Canada for purchases with down payments between 5% and 19.99%. CMHC mortgage loan insurance lets you get a mortgage for up to 95% of the purchase price of a home with a great interest rate. Our calculator estimates your mortgage insurance premium.