CHMC and Federal Government Refunds on Eco-Friendly Homes

CMHC (Canadian Mortgage and Housing Corporation) is now offering a 10% refund on the Mortgage Insurance Premium when purchasing a energy-efficient property. There are several green projects in the market right now, we’ve talked about Square Benny being one of them, and now with the explosion of eco-friendly developments, you have more options in finding an energy-efficient home in Montreal.

The CMHC discount is also extended to home-buyers or Home-Builders and existing home-owners who are planning on making energy-saving renovations.

Bonus: Longer Amortization

You could also have the added flexibility of a longer amortization (the period of time required to repay your mortgage) from 25 years to a maximum of 35 years for loan-to-value ratios in excess of 80% (or 40 years for loan-to-value ratios of 80% or less), significantly reducing your monthly payments.

To get the details of this program: How it works, who can apply for it, etc. Visit the CMHC website

Other Discounts by the Federal Government

“The Government of Canada actively promotes energy conservation and initiatives to reduce greenhouse gas emissions that contribute to climate change.”

This is another program I found through the CMCH website, the refunds are offered by the Federal Government. I’m not really sure if they’re both available at once, or if you get the refund from one entity you can’t get it from the other. Something to find out. In any case, here are the details:

Eco-Energy RetroFit (Homes): is available to owners of single family homes including detached, semi-detached and low rise multi-unit residential buildings. The maximum grant you can receive per home or multi-unit residential building is $5,000; whereas the total grant amount available to one individual or entity for eligible properties over the life of the program is $500,000. It also helps home buyers choose an energy efficient new home. Visit their website for more info.

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Posted by:  Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889


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Comments

  1. VidyaNo Gravatar says:

    House is a good living beings. Under the right conditions they become homes. They protect their inhabitants from nature's elements. They expand and contract. They breathe. They care for you. In turn, from time to time in gentle repayment, you must care for them.

  2. Corey ChapmanNo Gravatar says:

    we should always look for eco-friendly products out there to help the environment.

  3. Stomach Gas BloatingNo Gravatar says:

    nowadays we would always use eco-friendly stuffs like, eco friendly foods, shoes and bags `~”

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