CMHC hikes premium refund for energy efficient homes

Mortgage borrowers who buy, build or renovate for energy efficiency have been given a boost from the Canada Mortgage and Housing Corporation.

The Green Home Premium has been increased from 10 per cent to as much as 25 per cent for eligible energy-efficiency projects with CMHC-insured financing.

“CMHC is committed to fostering energy-efficient housing in Canada. Improving energy efficiency not only reduces greenhouse gas emissions but also lowers the cost of owning and maintaining a home,” commented Steven Mennill, CMHC’s Senior Vice President, Insurance.

The agency is also updating the eligibility requirements to reflect changes to the EnerGuide Rating System. CMHC is Canada’s only mortgage insurer prepared to accept applications for homes assessed using either the current 0-100 scale or the new gigajoule scale.

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