Energy efficient renovations are not only good for the environment, they can also be good for your wallet. CMHC’s Eco Improvements program, launched on September 7, 2023, offers a golden opportunity for homeowners.
How it works ?
If you have a CMHC-insured mortgage and have invested or plan to invest in energy-efficient renovations, you could benefit from a 25% refund on your mortgage insurance premium. The condition ? Have carried out work worth a minimum of $20,000.
Eligibility Criteria:
Be an owner-occupant with a CMHC-insured loan.
Own a single-family home, a condominium, or a plex of 2 to 4 units.
Have invested at least $20,000 in qualified energy efficiency improvements.
Have a mortgage of up to $999,000 (or equivalent to the value of the property).
Eligible Energy Efficiency Improvements:
Building envelope, including insulation, windows, and more.
Mechanical systems such as heating or heat pump.
Renewable energy systems, including solar and wind.
Application Process:
Simple and convenient, the process involves submitting the application form online along with relevant invoices less than 5 years old. You have up to 2 years after purchasing your property to make this request.
For more information and to submit your request, visit the CMHC website.
