Help the Planet, Help Your Wallet
CMHC Green Home
Energy-Efficient Housing Made More Affordable with Mortgage Loan Insurance
Did you know, more than 17 percent of the energy consumed in Canada is used to run our homes? Buying an energy-efficient home or making energy-saving renovations can offer big savings. A 10% CMHC mortgage loan insurance premium refund, and a premium refund for a longer amortization period (if applicable) may be available when you use CMHC insured financing to purchase an energy-efficient home or make energy-saving renovations.
CMHC has added environmentally friendly features to the Mortgage Loan Insurance it offers. If you use CMHC insured financing to buy an energy-efficient home, purchase a house and make energy-saving renovations or renovate your existing home to make it more energy-efficient, a 10% refund on the Mortgage Loan Insurance premium, and a premium refund for a longer amortization period (if applicable) may be available.
The Government of Canada actively promotes energy conservation and initiatives to reduce greenhouse gas emissions that contribute to climate change.
CMHC Green Home flexibilities were originally introduced in 2004 to encourage consumers to consider energy efficiency in their housing choices and make the purchase of energy-efficient homes or energy-saving renovations more affordable. Since this began, more than six million dollars in premiums have been refunded to Canadians.
For most people, the hardest part of buying a home — especially a first home — is saving the necessary down payment. To help, CMHC offers lenders Mortgage Loan Insurance, which allows you to buy a house with a minimum down payment of 5%. Offered through most financial institutions, this simple solution has enabled millions of Canadians to realize the dream of homeownership.
CMHC made dreams of homeownership easier to obtain by allowing qualified home buyers to use additional sources of funds for down payments such as a loan or lenders’ cash back incentives.
Thinking of Buying or Building Green? Maybe you already have a home and want to renovation to make your home Energy-Efficient. For all the details on how this can apply to you, visit CMHC’s website: http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_008.cfm
For the BEST Rates in town to finance your mortgage, visit our website mortgagenowinc.ca, or Call us today! (306) 244-7755 – We can help you get into a new home, conserve energy and make a difference for our planet, and along the way, WE HELP SAVE YOU MONEY!
