Take Advantage of the Energy-Efficient Housing Program for Green Mortgage Rebates
As a mortgage broker in BC, Canada, I am always looking for ways to help my clients save money and live more sustainably. I’m excited to share information about the Energy Efficient programs, an initiative designed to encourage the construction and purchase of eco-friendly homes.
What is this Green Program about ?
The mortgage insurance companies CMHC, Sagen and Canada Guaranty program offers a 25% rebate on mortgage insurance premiums for homes that meet certain energy efficiency standards. This program is a great opportunity for those interested in reducing their environmental impact while saving money on their mortgages.
Who Qualifies for the Program?
To qualify for the rebate, your home must meet one of the following energy efficiency standards:
- ENERGY STAR®: An internationally recognized mark of energy efficiency for products and practices.
- R-2000: A Canadian standard for energy-efficient home construction that exceeds regular building codes.
- Net Zero Home: A home that produces as much energy as it consumes on an annual basis.
How Does It Work? Example with CMHC
- Purchase or Build an Energy-Efficient Home: Ensure your home meets one of the qualifying energy efficiency standards.
- Apply for CMHC Mortgage Insurance: When securing your mortgage, apply for CMHC mortgage insurance.
- Submit Your Application for the Rebate: Once your home meets the required standards, submit your application for the 25% rebate on your mortgage insurance premium.
Benefits of the CMHC Eco Plus Program
- Cost Savings: Save 25% on your mortgage insurance premium, which can translate into significant savings over the life of your mortgage.
- Environmental Impact: Contribute to a greener environment by living in a home that meets high energy efficiency standards.
- Increased Home Value: Energy-efficient homes often have higher resale values and are more attractive to potential buyers.
If you’re considering purchasing or building an energy-efficient home, the CMHC Eco Plus program is an excellent way to save money and support sustainable living. Feel free to reach out to me for more details on how to take advantage of this fantastic opportunity!
Contact me for more information:
Isabel Medina – Mortgage Broker DLC National
isabel.medina@dominionlending.ca
778 513 0169
Source:
CMHC (2022). CMHC Eco Plus. https://www.cmhc-schl.gc.ca/consumers/home-buying/mortgage-loan-insurance-for-consumers/cmhc-eco-programs/cmhc-eco-plus