Let AmeriSpec Help You Get a Reduction on Your CMHC Mortgage Insurance

Canada Mortgage and Housing Corporation encourages the development of more energy-efficient homes by provding incentives to homeowners on their CMHC mortgage insurance.

 

Certain homes in Canada may qualify for a 10 per cent premium refund and extended amortization periods without a premium surcharge when CMHC Mortgage Loan Insurance is used to finance their purchase or construction.

 

There are two ways to access the refund:

 

1.  Homeowners who have purchased their home after April 1, 2010, and have achieved a Natural Resources Canada Energy Efficiency rating of at least 80 can get a 10% reduction on their mortgage insurance.

 

2. For older homes your AmeriSpecc energy advisor will assess your home before and after energy-saving renovations are finished. If this test shows that the house's energy rating has improved by at least 5 points and has achieved an overall rating of at least 40, the 10% premium refund on the CMHC mortgage insurance may be available.

 

For example, this can add up to savings of $1,688 for a typical $250,000 mortgage with a 5 per cent down payment amortized over 35 years.

 

The first step is to have an AmeriSpec home energy advisor conduct an energy audit on your home in order to determine if energy upgrades to your home can be made to meet the target.

 

For a limited time, the Province of Ontario will provide homeowners with a rebate on their home energy audit as well as financial incentives for specific energy upgrades.

 

Call us today at 1-800-794-5880 to get started.