Homeowner mortgage loan insurance premiums vary according to the loan-to-value ratio.

You can pay this premium in a single lump sum (saving interest on this charge), or add it to your mortgage and include it in your monthly payments.

Where can mortgage loan insurance be obtained?

See your lender, who can obtain mortgage loan insurance from CMHC or a private insurer.

CMHC will insure mortgages of up to 95% of the home's purchase price or the market value of the property, whichever is less. (Restrictions may apply. Contact your local lender.)

Both new and resale homes are eligible. Here are some of the criteria that must be met:

• The home must be in Canada and must be your principal residence.
• Housing payments, including principal, interest, property taxes, heating (P.I.T.H.), the annual site lease in the case of leasehold tenure and 50% of applicable condominium fees, can't be more than 32% of your gross household income (GDS ratio).
• Your total debt load can't be more than 40% of your gross household income (TDS ratio). Other criteria apply and are subject to change. For details, please contact CMHC or your local lender.

For additional information on calculating the Gross Debt Service (GDS) and the Total Debt Service (TDS), go to Step 3: Calculate Your Costs

CMHC mortgage loan insurance helped Ruth and Sidney obtain a mortgage.