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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 a newly constructed, energy-efficient home.
Qualified borrowers who purchase a newly constructed energy-efficient home 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 qualify for the 25% premium refund, the insured property must be a newly constructed home and meet one of the following criteria:
Note: Eligibility for the Energy Consumption requirement will need to be assessed using the Natural Resources Canada (NRCan) EnerGuide Rating System.
A new construction property that has received a certification from one of the following programs is eligible for the 25% premium refund.
A new construction 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 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 issued directly to the homeowner within 8-12 weeks after receiving the partial premium refund application.