Mortgage Intelligence

Oshawa's Mortgage News Desk!

The Green House. Look to your mortgage for energy savings.

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Image by courtesy of fsb1879.com

If you buy an energy-efficient home or make energy-saving renovations you may be able to get a savings boost from your mortgage!  Canadian mortgage insurers have a program that helps homeowners save when they buy energy-efficient homes.

Homeowners purchasing a qualifying energy-efficient home are eligible for up to a 25 per cent mortgage insurance premium refund. If you purchase a qualifying $400,000 home with 5 per cent down, you are eligible for up to a 25 percent refund of your $15,200 in mortgage insurance premiums. That’s $3,800, a substantial savings!

Existing homeowners who make retrofits to improve energy efficiency can also apply for this refund. You’ll be required to complete an NRCan energy assessment evaluation pre and post retrofit, and you’ll need to improve your home’s energy efficiency by the required amount. Of course, your home’s energy improvements will also reduce your costs for years to come!

To find out more information about energy savings improvements and how it can benefit you, speak to an expert at MiMortgage.ca. Contact us at 1 866 452-1100 or apply online now!

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Author: mimortgage.ca

David Hetti is a full time Mortgage Broker with Mortgage Intelligence (FSCO Lic MO8002434) David is the Director of Operations at Mortgage Intelligence Oshawa and heads a team of full time licensed Mortgage Agents serving all of Ontario. David is also a licensed Insurance Consultant.

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