Are you taking full advantage of CMHC’s 25% Green Home Refund Offer?
CMHC Green Home offers a premium refund of up to 25% to borrowers who either buy, build or renovate for energy efficiency using CMHC-insured financing.
Energy-efficient homes can be linked to increased comfort and healthier living while improving energy efficiency reduces greenhouse gas emissions and lowers the cost of owning and maintaining your home.
CMHC Mortgage Loan Insurance helps lenders offer borrowers more affordable financing choices when purchasing an energyefficient home or purchasing an existing home and making energy-efficient improvements.
- The loan insurance features A 2-level premium refund structure that recognizes different levels of energy efficiency: – Level 1: 15% of the total premium paid – Level 2: 25% of the total premium paid
- It is available for the construction or purchase of an energy-efficient home or the purchase of an existing home where energy-efficient improvements are being made and CMHC-insured financing is being used.
- Most new homes built under a CMHC-eligible energy-efficient building standard automatically qualify for a premium refund. For all other homes, eligibility will be assessed using Natural Resources Canada’s (NRCan) EnerGuide Rating System (ERS), either the 0-100 scale or the gigajoule scale.
- Premium refund applications are accepted from the borrower within 2 years of the closing date of the mortgage.
Here is some more info about the program, in the meantime, if I can help you answer questions about this, or any other mortgage or real estate related issue, please feel free to contact me anytime.