CMHC Mortgage Loan Insurance Refund
Province/Territory:
National
Rebate Amount:
10% of the cost of CMHC mortgage insurance
Description:
Get a 10% refund on the cost of your mortgage loan insurance when you buy an energy efficient home, purchase a home and make energy-saving renovations, or renovate your existing home to make it more energy efficient. You could also have the added flexibility of an extended amortization (up to a maximum of 30 years) without a premium surcharge.
For home buyers and builders, the refund and extended amortization are available for houses that:
- Are energy-efficient R-2000 models;
- Has been assessed by a Natural Resources Canada (NRCan) qualified energy advisor and it has an energy efficiency rating of 80* or above;
- Were or will be built under a CMHC-eligible energy-efficient building program (list of programs is here); or
- the building in which the condominium unit you're buying (on or after July 27th, 2005) is 25% more energy efficient, than if constructed to meet the requirements of the Model National Energy Code for Buildings (MNECB)
For home renovators, the refund is available for:
- Renovations to the house must increase the house's rating by at least 5 points and to a value of at least 40.
Steps to Get This Rebate:
- Find out how energy efficient your house will be when it's built, or will be after it's renovated. Find this out from your builder or an NRCan qualified energy advisor
- If the house doesn't meet the required energy efficiency rating (a rating of 80 or above), do the necessary renovations to increase the rating by at least 5 points, and to a minimum rating of 40
- Arrange for a CMHC-insured mortgage through your bank or mortgage broker
- Do another energy assessment to confirm the increase in energy efficiency
- Fill out the mortgage insurance refund application
- Send the application to:
CMHC
700 Montreal Road (Suite 1000)
Ottawa, Ontario, K1A 0P7
For more information
http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_008.cfm
SEE ALSO information on the Government of Canada’s ecoEnergy initiatives, at the NRCan website. http://oee.nrcan.gc.ca/residential/personal/new-homes/upgrade-packages/rating.cfm?attr=0
Due to regular changes in government programs, OMDREB doesn't guarantee that this is the most recent data. Please see individual websites for the most up-to-date information.
