Canada Mortgage and Housing Corporation (CMHC) has recently increased the incentive they offer to borrowers buying, building, or renovating energy efficient homes, demonstrating their commitment to making energy efficient homes more affordable. Moving away from a 10% refund on mortgage loan insurance for achieving a minimum EnerGuide (EG) rating of 82, borrowers can now receive up to a 25% refund for achieving higher energy efficiency standards.
CMHC provides a 25% refund for achieving R-2000, or 15% for achieving other building standards, such as Built Green Canada©, ENERGY STAR®, LEED Canada for Homes, or other provincial standards. Borrowers can also receive the refund if the home complies with the following:
- 15% refund for EG rating of 82-85 (or at least 15% lower than “A Typical New House” under the Gigajoules per year Scale)
- 25% refund for EG rating of 86-100 (or at least 40% lower than “A Typical New House” under the Gigajoules per year Scale)
Those interested in applying for the incentive can do so online.