What are the eligibility criteria for CMHC Eco Plus?
Homeowners must provide an EnerGuide evaluation (Level 1 and Level 2) showing the home meets specific energy targets or has been improved to achieve a reduction in energy consumption of at least 20%.
Applications for the 25% refund must be submitted within 24 months of the mortgage closing date. The property must be insured by CMHC, Sagen, or Canada Guaranty.
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Related Questions
What's the difference between a co-signer and a guarantor?
A co-signer is on title and equally liable from day one; a guarantor stays off title and is only pursued after the primary borrower defaults.
How do lenders assess the creditworthiness of co-signers and guarantors?
Lenders thoroughly evaluate the financial stability of co-signers and guarantors to mitigate mortgage default risks.
What are the key debt service ratios and qualifying rates lenders use?
Debt service ratios (GDS/TDS) and qualifying rates are key to determining mortgage affordability.
Income Verification Standards: Renewal Hill Adherence
Self-employed borrowers have multiple paths to prove income:.