Are you looking for ways to save money on your next construction project or home build? Did you know you can take advantage of nationally approved incentives with the Canadian Mortgage and Housing Corporation (CMHC)?
The CMHC Green Home Program offers refunds of 15% or 25% of the cost of your mortgage insurance when you build or buy following eligible energy-saving building standards. Building with Greenstone ICE Panels can achieve up to 35-40% better energy efficiency than a traditionally built home, which will help you reach the highest insurance premium refund offered by CMHC. ICE Panel construction also has the added bonus of continued energy cost savings over the lifetime of the building.
To give you a real-life example, say you want to purchase a home for $500,000 and you make the minimum 5% down payment of $25,000, making the borrowed mortgage amount $475,000. With an average insurance premium rate of 4% you can expect to pay $19,000 over the course of your mortgage. If your home qualifies for the highest refund rate (25%) you would receive a refund of $4,750.
Not only can you save money by leveraging Canada-wide refunds like CMHC’s Green Home Program, but you can stack them with Provincial incentives such as Efficiency Manitoba’s New Homes Program (MB), and FortisBC’s New Home Program (BC).
Multi-unit developments are a great way to invest but can be costly due to growing energy consumption rates. To meet the demands of the energy sector, these developers have made the shift to ICE Panel construction. This allows tenants to live more comfortably in their homes while also reducing their energy consumption, making ICE Panel multi-unit buildings highly energy efficient.
Greenstone’s building partners are seeing the return on their ICE Panel investment. Keller Developments in Brandon, Manitoba has had major success achieving high energy efficiency and qualifying for rebates under Efficiency Manitoba’s New Home Program. ICE Panels greatly contributed to the energy efficiency success of their recent multi-unit buildings, achieving 26% greater energy efficiency than traditional new builds of their size. With high energy performance and great indoor air quality, the ICE Panel building envelope provides a draft-free environment and reduces overall energy costs for its occupants. By achieving Efficiency Manitoba building standards, builders or homeowners that have mortgage insurance through CMHC can apply for the CMHC Green Home Program.
Not only can you save money by leveraging Canada-wide refunds like CMHC’s Green Home Program, but you can stack them with Provincial incentives such as Efficiency Manitoba’s New Homes Program (MB), and FortisBC’s New Home Program (BC). Take advantage of these additional savings! Find out if your new mortgage qualifies by submitting your CMHC Green Home Program – Partial Premium Refund Application.
If you are a developer, builder, or designer looking to capitalize on the largest return on investment available, reach out to our sales team to learn more. Connect with us at sales@gsbp.ca or by calling 204-726-1426.
