Canada Mortgage and Housing Corporation is introducing enhancements to its Green Home program for Canadians who purchase an energy-efficient home or make energy-saving renovations to an existing home using CMHC-insured financing.
Effective immediately, the premium refund will increase from 10% to as much as 25% depending on the level of energy efficiency achieved.
CMHC is also modifying the program eligibility requirements to reflect changes to standards in the industry for sustainable and energy-efficient housing.
Most new homes built under a CMHC-eligible energy-efficient building standard automatically qualify for a premium refund. For all other homes, eligibility will continue to be assessed using Natural Resources Canada’s EnerGuide Rating System (ERS). Natural Resources Canada is currently transitioning to a new version of the ERS. CMHC is prepared to accept applications for homes assessed using either the current 0-100 scale or the new gigajoule scale.
The residential sector is one of the largest contributors to energy consumption and related greenhouse gas emissions in Canada. The changes introduced today, demonstrate CMHC’s commitment and leadership in fostering energy-efficient housing in Canada, influencing housing affordability and quality, and supporting federal efforts to reduce greenhouse gas emissions.
The average premium refund to date is just over $1,000, and the enhancement provides for an even bigger savings opportunity. Highlighting this program to homebuyers and homeowners is an excellent way to pass on valuable savings and support green housing. To get a refund homeowners simply apply directly on CMHC’s website.
For further details on the new premium refund and eligibility requirements visit cmhc.ca/greenhome.