What are Mortgage loan Insurance premiums?

Mortgage loan insurance premiums are calculated as a percentage of the loan and is based on 18 Sep 2013 Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than 80%. Mortgage loan insurance premiums are calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.   Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than 80%. This insurance protects the lender against borrower defaults  Mortgage Insurance Providers CMHC Canada Mortgage and Housing Corporation (CMHC) is Canada's national housing agency. Established as a government-owned corporation in 1946 to address Canada's post-war housing shortage, the agency has grown into a major national institution. CMHC is Canada's premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. More about CMHC can be found at http://www.cmhc.ca Genworth Financial GE Mortgage Insurance Canada together, with its related affiliates, is the largest private sector mortgage insurance company in the world and the only private sector supplier of mortgage insurance in Canada. http://www.genworth.ca Mortgage Insurance Premiums Explained     Loan-to-Value Premium on Total Loan Premium on Increase to Loan Amount for Portability and Refinance Standard Premium Self-Employed without 3rd Party Income Validation Standard Premium Self-Employed without 3rd Party Income Validation** Up to and including 65% 0.50% 0.80% 0.50% 1.50% Up to and including 75% 0.65% 1.00% 2.25% 2.60% Up to and including 80% 1.00% 1.64% 2.75% 3.85% Up to and including 85% 1.75% 2.90% 3.50% 5.50% Up to and including 90% 2.00% 4.75% 4.25% 7.00%* Up to and including 95% 2.75% N/A 4.25%* * Extended Amortization Surcharges Greater than 25 years, up to and including 30 years: 0.20%

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Purchase Price:	$
Down payment:	$
Total CMHC:	$
Total Provincial Sales Tax :	$

Note: Provicial Sales Tax (8%) is applicable on mortgage insurance premiums, is due the date of closing, and is not rolled into a mortgage. Mortgage insurance premiums are exempt from the full Harmonized Sales Tax.