Mortgage Loan Insurance
Mortgages with less than 20% down are required to have mortgage loan insurance added.This insurance protects the lender in case the borrower defaults on the loan. Onthe plus side, there is a CMHC Green Home Refund that can refund up to 25% of themortgage loan insurance amount.
CMHC Green Home Mortgage Loan Refund
A mortgage loan insurance refund of 15% or 25% is available to customers who buya new, energy efficient home and have their mortgage insured with CMHC. Our attachedgarage homes, detached garage homes, duplexes and townhomes are eligible for a 15%refund on the CMHC mortgage loan insurance because of the energy efficient featureswe include*. If you choose to boost the energy efficiency of your Landmark homeor make it Net Zero, the refund would be 25% of your mortgage loan insurance.
Here’s an example of what you could save:
$400,000 home
5% down payment
CMHC mortgage loan insurance $15,200v
15% refund - save $2,280
25% refund - save $3,800
Find out more about our energy efficient homes.
Energy Efficiency *Some conditions apply. Subject to change without notice. Visit a sales centrefor details.