Three insurers, same rates, different flexibility. We know which one fits your file.
Premiums are identical across all three (regulated). The differences: Sagen has the flexible BFS stated-income program; Canada Guaranty is often faster on complex files; CMHC has the deepest lender network.
Down payment under 20% (mandatory), or 20%+ down if you want the lower "insurable" rate tier under the $1.5M ceiling.
The insurable maximum rose from $1M to $1.5M in 2024 and remains at $1.5M in 2026 — a meaningful discount for Toronto and Vancouver borrowers.
Searches for cmhc reddit mostly complain about the premium. Most Redditors don't realize (a) two other insurers exist with identical rates, and (b) Sagen's BFS program can approve files CMHC rejects.
Ready to see your numbers?
No — your lender chooses the insurer. Sagen and Canada Guaranty offer identical premiums with different underwriting flexibility.
2.8%–4.0% of the mortgage amount depending on down payment. Calculate the exact premium on our /cmhc-calculator.
Yes, with 20% down and a purchase price under $1.5M (uninsured) — but you'll pay a slightly higher rate.
Reddit sentiment is negative on the cost — but Sagen and Canada Guaranty offer identical pricing with sometimes-better underwriting flexibility.
Pick a time that works best for you
