CMHC boosts green home fund

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The Canada Mortgage and Housing Corporation (CMHC) is increasing its CMHC Green Home premium refund from 10 percent to as much as 25 percent depending on the level of energy-efficiency achieved. Introduced in 2004, CMHC Green Home offers a partial premium refund to borrowers who buy, build or renovate for energy efficiency using 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,” said Steven Mennill, senior vice president, Insurance Canada Mortgage and Housing Corporation.

As well, CMHC is updating the eligibility requirements to reflect changes to the EnerGuide Rating System. CMHC is Canada’s only mortgage insurer. It will accept applications for homes assessed using either the current 0-100 scale or the new gigajoule scale. For more information, visit www.cmhc.ca/greenhome.

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