# What You Pay for Mortgage Insurance in Ontario — Average Prices & Breakdown _Last updated: 2026-10-05T07:43:17Z_ > In Ontario, mortgage insurance tends to run from $8,844 to $30,953 per year, with a mid-market job near $16,545. ## Typical cost at a glance | Level | Price | | --- | --- | | Low | ~$8,844 | | Typical | ~$16,545 | | High | ~$30,953 | _Currency: USD, per year._ ## Cost by type | Type | Low | Typical | High | | --- | --- | --- | --- | | Baseline cost at the advertised rate | ~$8,844 | ~$19,899 | ~$30,953 | | Best-qualified applicant scenario | ~$7,252 | ~$18,019 | ~$28,786 | | Weaker-credit scenario | ~$9,552 | ~$24,896 | ~$40,239 | | Origination and third-party fees | ~$1,061 | ~$4,709 | ~$8,357 | | Shorter term with higher payment | ~$9,021 | ~$22,773 | ~$36,525 | ## How mortgage insurance pricing varies around Ontario Ontario is not one market for mortgage insurance. Neighbourhood access, parking and building age can each shift the quote, even for identical work. ## Getting quotes for mortgage insurance For mortgage insurance, three quotes is the practical minimum and five is rarely necessary. The goal is to see the market range, not to collect paperwork. ## What Mortgage Insurance typically costs Most buyers in Ontario see mortgage insurance quoted between $8,844 and $30,953 per year. The typical figure is close to $16,545, and that is the number worth writing into a budget before you request quotes. ## How to compare quotes for mortgage insurance Cheapest is not the same as best value for mortgage insurance. A slightly higher quote with a complete scope and no open-ended extras is often safer than the lowest figure with caveats. ## Timing your mortgage insurance For mortgage insurance, same-day and after-hours call-outs sit at the top of the range. A standard appointment booked in advance gives you the best chance of the typical figure. ## What moves the price of mortgage insurance The scope you agree drives most of the cost of mortgage insurance. Every extra task, upgraded material or access complication adds labour and risk, and the provider prices that risk into the quote. ## Frequently asked questions ### How much does mortgage insurance cost? Most mortgage insurance falls between $8,844 and $30,953, with a typical figure near $16,545 per year. The low end is a straightforward job with no surprises; the high end covers complex scope, premium materials or urgent timing. It is worth testing that against a couple of quotes in Ontario. ### What affects the price of mortgage insurance? Providers price risk as well as work. A job with unknowns costs more to guarantee, which is why two quotes for the same request can differ so much. Local providers in Ontario can confirm how that applies to your area. ### Is Mortgage Insurance cheaper in smaller cities? Often, but not always. Smaller markets can carry a travel or availability premium that offsets a lower local rate, so it is worth checking a nearby city before assuming the lowest published figure applies to you. In Ontario, that is worth confirming with a local provider before you commit. ### How many quotes should I get for mortgage insurance? Two or three written quotes are enough to see the real market range. Compare the same scope side by side, and ask each provider what is excluded and what would change the price after the quote is accepted. The answer can shift with the Ontario market, so check locally. ## Keep comparing - [Finance](/category/finance/) - [Tax Preparation](/ontario/tax-preparation/) - [Personal Loans](/ontario/personal-loans/) - [Auto Loans](/ontario/auto-loans/) - [Student Loans](/ontario/student-loans/) - [Business Loans](/ontario/business-loans/) - [Mortgages](/ontario/mortgages/) - [Alabama](/alabama/mortgage-insurance/) - [Alaska](/alaska/mortgage-insurance/) - [Arizona](/arizona/mortgage-insurance/) - [Arkansas](/arkansas/mortgage-insurance/) - [California](/california/mortgage-insurance/) - [Colorado](/colorado/mortgage-insurance/) - [Connecticut](/connecticut/mortgage-insurance/) - [Delaware](/delaware/mortgage-insurance/) - [District of Columbia](/district-of-columbia/mortgage-insurance/) - [Florida](/florida/mortgage-insurance/) - [Georgia](/georgia/mortgage-insurance/) - [Hawaii](/hawaii/mortgage-insurance/) - [Idaho](/idaho/mortgage-insurance/) - [Illinois](/illinois/mortgage-insurance/) - [Indiana](/indiana/mortgage-insurance/) - [Iowa](/iowa/mortgage-insurance/) - [Kansas](/kansas/mortgage-insurance/) - [Kentucky](/kentucky/mortgage-insurance/) - [Louisiana](/louisiana/mortgage-insurance/) - [Maine](/maine/mortgage-insurance/) - [Maryland](/maryland/mortgage-insurance/) - [Massachusetts](/massachusetts/mortgage-insurance/) - [Michigan](/michigan/mortgage-insurance/) - [Minnesota](/minnesota/mortgage-insurance/) - [Mississippi](/mississippi/mortgage-insurance/) - [Missouri](/missouri/mortgage-insurance/) - [Montana](/montana/mortgage-insurance/) - [Nebraska](/nebraska/mortgage-insurance/) - [Nevada](/nevada/mortgage-insurance/) - [New Hampshire](/new-hampshire/mortgage-insurance/) - [New Jersey](/new-jersey/mortgage-insurance/) - [New Mexico](/new-mexico/mortgage-insurance/) - [New York](/new-york/mortgage-insurance/) - [North Carolina](/north-carolina/mortgage-insurance/) - [North Dakota](/north-dakota/mortgage-insurance/) - [Ohio](/ohio/mortgage-insurance/) - [Oklahoma](/oklahoma/mortgage-insurance/) - [Oregon](/oregon/mortgage-insurance/) - [Pennsylvania](/pennsylvania/mortgage-insurance/) - [Rhode Island](/rhode-island/mortgage-insurance/) - [South Carolina](/south-carolina/mortgage-insurance/) - [South Dakota](/south-dakota/mortgage-insurance/) - [Tennessee](/tennessee/mortgage-insurance/) - [Texas](/texas/mortgage-insurance/) - [Utah](/utah/mortgage-insurance/) - [Vermont](/vermont/mortgage-insurance/) - [Virginia](/virginia/mortgage-insurance/) - [Washington](/washington/mortgage-insurance/) - [West Virginia](/west-virginia/mortgage-insurance/) - [Wisconsin](/wisconsin/mortgage-insurance/) - [Wyoming](/wyoming/mortgage-insurance/) - [Ontario](/ontario/mortgage-insurance/) - [Quebec](/quebec/mortgage-insurance/) - [British Columbia](/british-columbia/mortgage-insurance/) - [Alberta](/alberta/mortgage-insurance/) - [Saskatchewan](/saskatchewan/mortgage-insurance/) - [Manitoba](/manitoba/mortgage-insurance/) - [Nova Scotia](/nova-scotia/mortgage-insurance/) - [New Brunswick](/new-brunswick/mortgage-insurance/) - [Newfoundland and Labrador](/newfoundland-and-labrador/mortgage-insurance/) - [Prince Edward Island](/prince-edward-island/mortgage-insurance/) - [Hamilton](/hamilton/) - [Kitchener](/kitchener/) - [London](/london/) - [Ottawa](/ottawa/) - [Sudbury](/sudbury/) - [Thunder Bay](/thunder-bay/) - [Toronto](/toronto/) - [Windsor](/windsor/) --- These are planning ranges drawn from public price data and market research. They are not a quote, an offer or financial advice, and your actual price depends on the provider, the location and the scope of the work.