When you are looking for a home, how important is it that the property be energy efficient? It should be a factor on your list of “must haves,”since an energy-efficient home will be much more economical to run once you move in. It’s always a good idea to ask about the home’s construction and any special building materials which have been used to make it use less energy. This information is important for your financing because CMHC offers an incentive for Canadians who want to buy an energy-efficient home.
Go Green, and Save Some Green
If you take out a CMHC-insured mortgage to buy your energy-efficient home, you can qualify for a 10% refund on the Mortgage Loan Insurance premium. The Canadian government wants to promote conservation among Canadians , and this program is part of that initiative.
How to Qualify for the CMHC Energy Efficient Homes Refund
- Find out how energy efficient the house or unit is. You will also need to collect supporting documentation about how your home was built or have it assessed by an energy advisor and have an EnerGuide rating of 82. Eligible Energy-Efficient Building Programs include Energy Star, R-2000, and GreenHouse.
- Arrange a CMHC-insured mortgage through your lender.
- Apply for the premium refund online. You also have the option of filling out the application form in PDF and mailing it to CMHC with a copy of your supporting documentation to 700 Montreal Road, Suite 1000, Ottawa, Ontario, K1A 0P7.
If you want to find a home that fits your needs, including being energy-efficient, call on Daniel and Bonnie Wan. They know the GTA market and can help you find one that is just the right fit.