Lower Sackville
Nova Scotia down payment and CMHC premium calculator
The least you can put down on any price, the mortgage insurance premium that comes with it, and why the premium is not a closing cost in Nova Scotia.
How much is the CMHC premium on a $450,000 home with 5% down?
$17,100. With $22,500 down the mortgage is $427,500, a 95% loan-to-value, and CMHC’s premium at that level is 4% of the loan. It is added to the mortgage, making it $444,600, not paid in cash. Nova Scotia charges no provincial sales tax on the premium.
Run it on your price
- Down payment $22,500
- Mortgage before the premium $427,500
- CMHC premium at 4% $17,100
CMHC premium schedule; the premium is added to the mortgage, so the total borrowed is $444,600. Deed transfer tax and legal fees are separate cash costs.
Below 80% loan-to-value no premium is charged to you. CMHC’s schedule still lists 0.6% to 2.4% for low-ratio mortgages a lender chooses to insure; the lender normally pays that.
First-time buyers and buyers of a newly built home can take a 30-year amortization under CMHC Home Start. CMHC applies a premium surcharge for it; that figure is not in this site’s verified data, so nothing is added here. Confirm it on your file.
Go deeper
The detail, if you want it
Worked examples at each down payment level
| Price | Down payment | Loan-to-value | Premium rate | Premium | Mortgage with premium |
|---|---|---|---|---|---|
| Nova Scotia average $467,585 | $23,379 (5%) | 95% | 4% | $17,768 | $461,974 |
| Nova Scotia average $467,585 | $46,759 (10%) | 90% | 3.1% | $13,046 | $433,872 |
| Nova Scotia average $467,585 | $70,138 (15%) | 85% | 2.8% | $11,129 | $408,576 |
| Nova Scotia average $467,585 | $93,517 (20%) | 80% | none | $0 | $374,068 |
| Halifax-Dartmouth average $592,675 | $34,268 (5.8%) | 94.2% | 4% | $22,336 | $580,744 |
| Halifax-Dartmouth average $592,675 | $59,268 (10%) | 90% | 3.1% | $16,536 | $549,943 |
| Halifax-Dartmouth average $592,675 | $88,901 (15%) | 85% | 2.8% | $14,106 | $517,879 |
| Halifax-Dartmouth average $592,675 | $118,535 (20%) | 80% | none | $0 | $474,140 |
The Halifax-Dartmouth row cannot start at 5%: above $500,000 the second tranche needs 10%, so the minimum is $34,268, 5.8% of the price.
The premium schedule
| Loan-to-value | Premium |
|---|---|
| Up to 65% | 0.6% |
| 65.01% – 75% | 1.7% |
| 75.01% – 80% | 2.4% |
| 80.01% – 85% | 2.8% |
| 85.01% – 90% | 3.1% |
| 90.01% – 95% | 4% |
| 90.01% – 95% (non-traditional down payment) | 4.5% |
Insurance is required below 20% down and is only available on a price under $1,500,000, with a minimum credit score of 600. Sagen and Canada Guaranty publish matching schedules. Nova Scotia charges no provincial sales tax on the premium.
What moves the number, and what does not
Moves it: every dollar of down payment that crosses a band. Going from 95% to 90% loan-to-value on the provincial average saves $4,723 of premium, more than the extra down payment costs in interest over the first term.
Moves it: a borrowed down payment above 90% loan-to-value, priced at 4.5% instead of 4%.
Does not move it here: being a first-time buyer. The ladder is the same. Home Start’s 30-year amortization carries a surcharge that this site does not state, because the figure is not in its verified data.
Insured purchase at $450,000
CMHC premium at 5% down, 4% of the $427,500 mortgage, added to the balance rather than paid in cash
- $22,500Minimum down payment5% of the first $500,000 and 10% of the remainder (1–2 units)
- $444,600Mortgage with the premium added$427,500 before the premium
- NoneProvincial sales tax on the premium in Nova ScotiaQuebec, Ontario and Saskatchewan charge one, in cash on closing
- $17,768Premium on the August 2026 provincial average$467,585 with the minimum $23,379 down, at 4%
CMHC mortgage loan insurance premium schedule; Nova Scotia Association of REALTORS® / CREA monthly statistics, August 2026. A borrowed (non-traditional) down payment above 90% loan-to-value is priced at 4.5%. Below 80% loan-to-value no premium is charged to the borrower.
Why a broker
Licensed, independent, paid by the lender
- Licensed in Nova Scotia Associate broker 3001134, verifiable on the provincial register
- $0 broker fee On a standard residential mortgage the lender pays, not you
- Banks, credit unions, monolines One application, one credit check, placed with the lender that reads your file best
- Every part of the province Bedford office, remote process: Yarmouth to Sydney, the same four steps
Questions people ask
What is the minimum down payment in Nova Scotia?
The federal rule: 5% of the first $500,000 and 10% of the remainder (1–2 units), and 20% on a price of $1,500,000 or more, where no insured mortgage exists. On the August 2026 provincial average of $467,585 that is $23,379; on the $592,675 Halifax-Dartmouth average, $34,268, because the part above $500,000 needs 10%.
Do I pay the CMHC premium in cash on closing?
No. The premium is added to the mortgage and repaid over the amortization, so a $17,100 premium on $427,500 makes the mortgage $444,600. Nova Scotia charges no provincial sales tax on it; CMHC lists Quebec, Ontario and Saskatchewan as the provinces that do, and there the tax is cash on closing.
How much does 10% down save compared with 5%?
On the $467,585 provincial average, 5% down ($23,379) carries a 4% premium of $17,768; 10% down ($46,759) drops the rate to 3.1% and the premium to $13,046. The extra $23,379 of down payment saves $4,723 of premium and lowers the mortgage by $28,102.
Is the premium different for a first-time buyer or a new build?
The rate ladder is the same. First-time buyers, and anyone buying a newly built home, can take a 30-year amortization under CMHC Home Start instead of 25; CMHC applies a premium surcharge for the longer amortization, and because that figure is not in this site’s verified data it is not added here. A borrowed or non-traditional down payment above 90% loan-to-value is priced at 4.5% rather than 4%.
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Send the listing and what you have saved; you get back the minimum down, the premium at each level, the deed transfer tax for that municipality and the income the file needs, within a business day.
(902) 298-0218 · Monday to Friday, 9:00 am to 5:00 pm Atlantic