12 Oct Go Green, Get Green With CMHC
The Cedarglen Homes vision is to revolutionize the home building process. So it seemed like a natural fit when we introduced our EnerGuide initiative in early 2016. This initiative includes energy efficient standards for our home buyers to invest in efficiency, health, and value within their new home. Click here for a list of these standards. Now, thanks to Canada Mortgage and Housing Corporation (CMHC) our EnerGuide initiative can offer even more value to our homeowners.
Canada Mortgage and Housing Corporation helps facilitate access to housing and contribute to financial stability in order to assist Canadians in meeting their housing needs. Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price. If you are looking to buy a home, but do not have a large enough down payment, CMHC provides mortgage insurance to protect the lender against mortgage default.
Where a homebuyer obtains Canada Mortgage and Housing Corporation (CMHC) insured mortgage financing to purchase their energy-efficient home, the homebuyer may be eligible for a partial premium refund, up to 25% of the CMHC mortgage loan insurance premium based on the level of energy efficiency the home has achieved. Homes built under specific building standards, such as R-2000, Built Green and Energy Star, are automatically eligible for a partial mortgage loan insurance premium refund. The percentage of that premium refund can vary depending on the level of the home’s efficiency rating. How can Cedarglen Homes’ homebuyers determine whether they are eligible for a partial premium refund under CMHC Green Home? Please visit their webpage or call 1-800-668-2642 for more information including how to apply. CMHC Green Home may be subject to change in the future.
If we all work together to improve energy efficiency and reduce greenhouse gas emissions, it’s amazing what we can accomplish and how we can benefit.
Have a great weekend,