Home » Mortgage Brokers

Mortgage Brokers

Green Homes Refund

CMHC/Genworth/Canada Guaranty: Green Homes Refund

Up to 25% refund of mortgage insurance premium
Differentiate your company from the competition
Get more referrals from customers

How it works

Your customers may receive a 15% or 25% refund on the mortgage insurance premium they paid by upgrading the efficiency of their home within 2 years after the closing date of their mortgage.

4 Steps

  1. Initial home assessment by a Ridge Energy Advisor – An EnerGuide label and reports will be provided.
  2. Completion of upgrades to the home that meet the targets listed below.
  3. Second qualifying assessment by a Ridge Energy Advisor.
  4. The homeowner completes and submits an application to mortgage insurer with the energy audit documentation.
  5. If your customer has an existing energy audit file, Ridge Energy can obtain the file from the Federal Government, re-issue the reports and submit the application for a small fee.

A standard $1,000,000 mortgage with 7.5% down costs $37,000 insurance premium, your customer will receive up to 25% refund of the premium they paid, once upgrades have been completed, along with the second Energy Assessment and application completion. Other types of mortgages may require higher mortgage insurance.

The cost for the first audit is $400 plus tax.

The Targets

Energy Audit Measurement15% Premium Refund25% Premium Refund
If the pre-retrofit rating is 200 GJ/year or higher (the post-retrofit must be no higher than 250)Decrease by 45 GJ/YearDecrease by 90 GJ/Year
If pre-retrofit rating is lower than 200 GJ/yearDecrease by 20 GJ/YearDecrease by 45 GJ/Year

Prices and conditions are subject to change without notice. Customer must sign the NRCan ERS Evaluation Authorization Form. Ridge Energy makes no warranty, expressed or implied, with respect to the energy consumption figures, cost estimates or energy efficiency recommendations included in the Energy Assessment. Actual energy consumption and costs depend on a host of factors beyond the control of Ridge Energy. Personal information collected will be protected under PIPEDA and the Privacy Act. Homeowners may be eligible for more than one rebate program, in this case, the terms and conditions of different programs may or may not directly affect the eligibility of other programs, the homeowner must be aware of each program’s terms and conditions of eligibility. Ridge Energy makes no warranty expressed or implied for the eligibility of multiple programs.

Scroll to Top