Mortgage insurance can be paid on closing in cache, or added to the mortgage amount (“dissolved” in the mortgage). In the latter case, the insurance is included in the “Total Mortgage Required”:

Ontario Mortgage Default (CMHC) Insurance:

• Will compensate the lender if the borrower goes into default (normally by failing to make mortgage payments).
• Required when the down payment is less than 20%.
• The maximum amortization for insured mortgages is 25 years.
• If the purchase price is between $500,000 – $999,999 a higher down payment is required. The minimum down payment is 5% of the first $500,000, and 10% of the remaining amount.
• Mortgage default insurance is not available on homes purchased for more than $1 million; this means that a 20% down payment is required on these homes.