The Canada Mortgage and Housing Corporation (CMHC) is a Canadian Crown corporation responsible for administering the National Housing Act. It operates as the primary provider of mortgage insurance, ensuring Canadians have access to housing finance options, particularly those with less than a 20% down payment for a home purchase.

CMHC insurance protects lenders, such as banks and credit unions, in case borrowers default on their mortgage payments. This insurance allows lenders to offer mortgages with lower down payment requirements and at lower interest rates since the risk of default is mitigated by CMHC.

A CMHC Calculator is a tool designed to help prospective homebuyers understand the costs associated with purchasing a home and obtaining a mortgage that requires CMHC insurance. These calculators typically allow users to input various parameters such as the purchase price of the home, down payment amount, interest rate, and amortization period. Using this information, the calculator can estimate the mortgage insurance premium that would be required by CMHC, as well as the total monthly mortgage payment including principal, interest, property taxes, and insurance.