If your Saskatoon mortgage is insured by CMHC, Sagen or Canada Guaranty and your home meets that insurer’s energy-efficiency requirements, you may qualify for a refund of 25% of the mortgage default insurance premium you paid.
This is not a home-insurance rebate. Approval depends on your mortgage insurer, the property, when the mortgage closed and the supporting documents you submit.
What is the energy-efficient mortgage insurance rebate?
Canada’s three mortgage default insurers offer programs that may refund part of the mortgage insurance premium paid by eligible borrowers:
- CMHC offers Eco Plus for qualifying newly built homes and Eco Improvement for eligible energy-efficient renovations.
- Sagen offers its Energy-Efficient Housing Program for qualifying newly constructed homes.
- Canada Guaranty offers its Energy-Efficient Advantage Program for qualifying newly constructed homes.
Each insurer currently describes a 25% premium refund for qualifying borrowers. The programs have different property, documentation and application requirements.
Who may qualify in Saskatoon?
Eligibility starts with having an insured mortgage from the same insurer whose rebate program you apply to.
A newly built Saskatoon home may qualify through an accepted energy-efficiency certification or a qualifying energy-consumption result. Depending on the insurer, accepted documentation may include:
- An EnerGuide label
- ENERGY STAR certification
- R-2000 certification
- Built Green certification
- Passive House certification
- Net Zero certification
- Another certification accepted by the insurer
Having energy-efficient features does not automatically make a home eligible. The mortgage insurer must confirm that the property and documents meet its program requirements.
Can renovations qualify for a rebate?
CMHC also offers Eco Improvement for eligible energy-efficient renovations completed after purchasing a home.
CMHC currently states that a borrower must:
- Have CMHC mortgage loan insurance
- Spend at least $20,000 on eligible energy-efficient improvements
- Submit the refund request within two years of the mortgage closing
- Provide invoices and supporting documents for the qualifying work
These are CMHC requirements. Do not assume they apply to a mortgage insured by Sagen or Canada Guaranty.
What is an EnerGuide home evaluation?
EnerGuide is Natural Resources Canada’s home-energy rating system.
A registered energy advisor evaluates the property and provides an EnerGuide label showing the home’s estimated annual energy consumption. Generally, a lower energy-use rating indicates a more efficient home.
An EnerGuide evaluation may support your application, but the mortgage insurer ultimately decides whether the evaluation and results meet its requirements.
What documents should you collect?
Before applying, gather:
- The name of your mortgage insurer
- The insurer’s mortgage or reference number, if required
- Your EnerGuide label or qualifying energy-efficiency certification
- The insurer’s current application form
- The property and borrower information requested by the insurer
- Paid invoices and supporting documents for an eligible CMHC renovation application
- A copy of everything submitted
- Proof showing when and how the application was submitted
If you do not know whether CMHC, Sagen or Canada Guaranty insured your mortgage, ask your lender or mortgage broker before beginning the application.
How do the three programs differ?
CMHC
CMHC Eco Plus applies to qualifying newly built energy-efficient homes. Eco Improvement provides a separate option for certain energy-efficient renovations completed after purchasing a home.
Both programs currently describe a 25% partial mortgage insurance premium refund for borrowers who satisfy the applicable requirements.
Sagen
Sagen’s Energy-Efficient Housing Program currently describes a 25% refund of the Sagen mortgage insurance premium for eligible borrowers purchasing newly constructed energy-efficient homes.
Applicants must provide the documentation Sagen accepts, such as a qualifying certification or EnerGuide information. The application must be submitted within 24 months of the mortgage closing date.
Canada Guaranty
Canada Guaranty’s Energy-Efficient Advantage Program currently describes a 25% mortgage insurance premium refund for qualified borrowers purchasing eligible newly constructed energy-efficient homes.
Its current product information says the refund request must be submitted within 24 months of the mortgage closing.
How do you apply?
- Confirm which company insured your mortgage.
- Open that insurer’s current energy-efficiency program page.
- Check the property, documentation and timing requirements.
- Gather the EnerGuide label, certification, invoices or other required records.
- Complete the insurer’s application.
- Submit it using the method specified by the insurer.
- Keep a complete copy and proof of submission.
- Follow up directly with the insurer if its expected processing period passes.
Program terms can change, so review the current insurer requirements before spending money or submitting an application.
What is confirmed, and what still requires approval?
Confirmed:
- CMHC, Sagen and Canada Guaranty currently publish energy-efficient mortgage insurance refund programs.
- Each insurer currently describes a 25% refund for eligible borrowers.
- The rebate concerns mortgage default insurance—not regular home insurance.
Requires insurer confirmation:
- Which company insured your mortgage
- Whether your property qualifies
- Whether your certification or EnerGuide results are acceptable
- Whether renovations qualify
- Whether your application is complete and submitted on time
- The final refund amount and approval
A mortgage broker can help identify the likely insurer and organize financing documents, but cannot approve the rebate.
Frequently asked questions
Is this a rebate on my home insurance?
No. It is a potential refund of part of the mortgage default insurance premium paid on an eligible insured mortgage.
How much could I receive?
CMHC, Sagen and Canada Guaranty currently describe a 25% refund for qualifying borrowers. The actual approval is subject to the applicable insurer’s rules.
Do all energy-efficient renovations qualify?
No. CMHC Eco Improvement has specific mortgage-insurance, spending, improvement, documentation and timing requirements. Other insurers may have different rules.
What if I do not know who insured my mortgage?
Contact your lender or mortgage broker and ask whether the mortgage was insured by CMHC, Sagen or Canada Guaranty.
Is an EnerGuide evaluation always required?
Not necessarily. Some applications may use an approved certification instead. Follow the current document requirements for your insurer and property type.
Ready to check your eligibility?
If you are purchasing or improving an energy-efficient home in Saskatoon, Ramin can help you identify your mortgage insurer and organize the relevant financing documents.
The insurer will make the final decision about eligibility and the refund.
Official sources
This article provides general information only. Program requirements can change, and eligibility is subject to the applicable mortgage insurer’s review and approval. It is not individualized financial, legal or tax advice.