Saving money on your mortgage starts here—get up to 25% of your CMHC premium back.
When purchasing a home with less than a 20% down payment, most buyers are required to pay mortgage insurance premiums—a significant expense that can add thousands to the cost of homeownership. But did you know you might be eligible to get up to 25% of your mortgage insurance premium refunded? Unlike the First-Time Home Buyer Rebate, this rebate is available to anyone who qualifies—not just first-time buyers.
Who Qualifies?
To be eligible for the rebate, you must meet these key criteria:
✔ Property Purchase Timeline: The home must have been purchased within the last 24 months. ✔ Energy Efficiency Requirements: The property must meet specific energy efficiency standards, which can only be determined through an energy assessment.
How Much Can You Get?
Let’s break it down with an example:
- If you purchased a home for $800,000 and put down less than 20%, your CMHC mortgage insurance premium would be around $29,800.
- With the 25% rebate, you could receive up to $7,450 back!
Does Your Home Qualify?
Your home must meet one of the following criteria:
ENERGY RATING: The home’s energy use is at least 20% lower than that of a typical home.
GREENHOUSE GAS EMISSIONS: The home is in the top 15% of energy-efficient properties in terms of greenhouse gas emissions (tonnes/year).
ENERGY EFFICIENCY CERTIFICATE: The home has a recognized energy-efficient certification from the builder (such as ENERGY STAR, R-2000, LEED, etc.).
ENERGY EFFICIENT UPGRADES: The homeowner has spent at least $20,000 on eligible energy-efficient renovations.
What Makes This Program Unique?
No Upfront Fees: There’s no cost to apply or determine if you qualify.
No Renovations Required: If your home was built to energy-efficient standards, you could qualify without spending a dime on upgrades.
Direct Payment to Mortgage Holder: Once approved, the rebate is sent directly to the mortgage holder.
How to Apply
Get an Energy Assessment – An EnerGuide evaluation will determine your home’s eligibility.
Get your application submitted – Along with your mortgage insurance certificate and proof of energy efficiency.
Receive Your Rebate – Once approved, you will receive the refund.
If you think you might qualify, don’t miss out on this opportunity to save thousands!
contact me today to check your eligibility and start your application.