Mortgage insurance is required for all home purchases with down payments that are less than 20 per cent of the value of the property.

The cost of the insurance is often rolled into your mortgage payments, but you should still know how much it costs-– you may be surprised to find that it may be worthwhile to save longer for a bigger down payment to avoid paying so much for insurance. Enter your down payment amount and the length of time you wish to repay your mortgage, and our mortgage insurance calculator will calculate the costs of your insurance premium for you.