Langley Realtor information - Canada Mortgage and Housing Corporation (CMHC) Mortgage Loan Insurance Refund (Home purchase/construction).

CMHC offers a 10% premium refund on its mortgage loan insurance premiums, as well as extended amortizations to a maximum of 40 years (subject to lender availability) without regular premium surcharges, to individuals who use CMHC-insured financing to purchase an energy efficient home, purchase a home and make energy-saving renovations, or renovate their existing home to make it more energy efficient. The refund is a one-time payment.

For homebuyers/homeowners, the refund and extended amortization are available:

When a house meets the requirements of a CMHC-Eligible Energy-Efficient Building program;

When a house has an energy rating of 77 or above, as determined through an NRCan residential energy assessment;

When a house with an energy rating of less than 77 is renovated to increase the rating by at least five points and to a rating of at least 40; or

When, for a highrise condominium unit, the building is constructed to be 25% more energy efficient than the Model National Energy Code for Buildings (MNECB) (in which case a letter attesting to this must be obtained from Natural Resources Canada or the project engineer).

Courtesy of Andrew Szalontai - It's all about service

Langley Realtor

andrew@yourperfecthome.ca