New Home Rebate Programs
EAEA customers are currently able to apply for new home rebates. See below for more information on available programs that you may be eligible for.
Mortgage Insurance Rebates
Mortgage Insurance Rebates
Many new home buyers require home owner’s mortgage insurance to be able to obtain financing for their purchase. However, most people are unaware that they are eligible for up to a 25% reduction in the mortgage fees for purchasing an energy-efficient new home, or for improving the energy efficiency of an older home. These savings are often referred to as "Green Mortgages".
Example: On a $750,000 purchase 5% down, the CMHC premium is $19,594. With the 25% discount there is a savings of $4898.
For a “new-build home” the criteria is typically a verification that the home exceeds the energy efficiency of a “code-built” home by a specified amount. A single energy assessment is required, which will verify if the home will qualify.
For an "existing home", upgrades are required to show the home has been made more energy efficient - using either a percentage factor, or by a specific GigaJoule (GJ) amount. This will require 2 energy assessments - a pre retrofit & a post retrofit assessment.
*(GJ is a measure of energy- 1 GJ equals approximately 27 litre of fuel oil, 39 litres of propane, 25 cubic meters of Natural Gas)
**Upgrades made to the home may also qualify for the Enbridge HER+ Rebate program
The three (3) most common companies providing mortgage insurance are:
**conditions apply
**details of the Green Mortgages are often shuffled within the websites - which may make it difficult to find - but keep searching - the result can be very rewarding.