Did you know you can get up to 25% of your mortgage insurance premium back when you buy an energy-efficient home or when you buy a home and make energy-efficient improvements?
Purchasing or building an energy-efficient home
New homes built under one of the energy-efficient building standards set out by the Canada Mortgage and Housing Corporation (CMHC) are eligible for a 15% or 25% refund of mortgage insurance premiums.
|
15% premium refund |
25% premium refund |
|
© Built Green Canada |
R-2000
|
Homes not built under an eligible building standard must be assessed by a Natural Resources Canada qualified energy advisor. The eligible premium refund will be based on the efficiency rating they assign.
|
|
15% premium refund |
25% premium refund |
|
EnerGuide Rating 0-100 scale |
Rating of 82 to 85 |
Rating of 86 to 100 |
Buying a condo
Condominium units in high-rise buildings built to the LEED Canada standard are eligible for a 15% premium refund.
You could also get a refund if the building meets certain criteria.
|
15% premium refund |
25% premium refund |
|
The building is designed to be 20% more energy-efficient than required by the Quebec Construction Code. |
The building is designed to be 40% more energy-efficient than required by the Quebec Construction Code. |
Renovating your home
If you purchase a home and make energy-efficient improvements, you may also be eligible for a premium refund. To qualify, you must have your home assessed by a Natural Resources Canada qualified energy advisor before and after the renovations.
|
|
15% premium refund |
25% premium refund |
|
If Pre-retrofit rating ≤ 55 |
Increase rating by 10 points |
Increase rating by 20 points |
|
If Pre-retrofit rating ˃ 55 |
Increase rating by 5 points |
Increase rating by 10 points |
In conclusion, note that you must apply for the premium refund within 24 months from the date the notarized purchase agreement is signed.
It pays to live in an energy-efficient home!
The content of this website is protected by copyright which is the exclusive property of Mortgage Planners – Mortgage Agency .
