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FIRST-TIME HOME BUYERS
To support initiatives that promote environmental consciousness and its ongoing protection, we are pleased to offer a 25% premium refund on the Canada Guaranty mortgage insurance premium paid for qualified borrowers purchasing an energy-efficient home or making energy-efficient upgrades.
Please note that the updated eligibility criteria are effective for all mortgage insurance applications submitted on or after June 20, 2022. If the loan was received by Canada prior to June 20, 2022, the loan may be eligible under the previous program criteria.
Qualified borrowers who purchase an energy-efficient home or make energy-efficient home improvements may be eligible to receive a 25% premium refund.
All applicable and required documentation must be submitted together with the completed premium refund application form. In addition to satisfying all borrower qualifications, to be eligible for a 25% premium refund, the insured property must meet one of the following three energy-efficient and/or greenhouse gas emissions verification requirements.
Note: Eligibility for the Greenhouse Gas Emissions or Energy Consumption requirements will need to be assessed using the Natural Resources Canada (NRCan) or EnerGuide Rating System.
A new construction, existing home, or condominium property that has received a certification from one of the following programs is eligible for the 25% premium refund.
A new construction or existing home that falls within the top 15% of the housing inventory with the lowest NRCan EnerGuide tonnes/year GHG emissions rating for the Heating Degree Day (HDD) zone is eligible for the 25% premium refund.
To determine this, the Heating Degree Day (HDD) zone in which the building is located, is required. The HDD zone can be determined using NRCan’s HOT2000 Climate Map as follows:
GHG (tonnes/year) Top 15th Percentile Thresholds
A new construction or existing home property with an NRCan EnerGuide gigajoules/year rating that is at least 20% lower than “A Typical New House” is eligible for the 25% premium refund.
Purchasing a new or existing home
To apply for a partial premium refund, the homeowner must download, complete, and mail, e-mail or fax the refund application form, together with all required documentation, to the appropriate address/fax number listed below:
Once all of the required criteria are met, Canada Guaranty will refund the homeowner the approved percentage of the standard mortgage insurance premium (including applicable provincial sales tax).
Refunds are processed and mailed directly to the homeowner within 30 business days after receiving the partial premium refund application.