Discounted Mortgage Loan Insurance for Energy-Efficient Homes
For most people, the hardest part of buying a home — especially the first home — is saving the necessary down payment. Mortgage Loan Insurance helps you buy a house with little or no down payment. CMHC or Canada Mortgage and Housing Corporation is one of the big three mortgage loan insurance providers in Canada.
Canada Mortgage and Housing Corporation now offers a 10% mortgage loan insurance premium refund and extended amortization periods of up to 40 years without surcharge when you use CMHC insured financing to purchase an energy-efficient home or make energy-saving renovations.
You mortgage broker can provide more information about this program. Ask about this discount especially when purchasing a new home as new homes are more likely to qualify as energy efficient homes.