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Energy-Efficient Housing Program

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At Genworth Financial Canada, we want to help protect the environment and support consumers as they make environmentally friendly choices. Through our Energy-Efficient Housing Program, home buyers purchasing an energy-efficient home or refinancing an existing home to make energy-saving renovations are now eligible for significant premium savings.

Consumer Benefits

  • A 10% refund of the Genworth mortgage insurance premium 
  • Refund of any extended amortization insurance premium surcharge (Loans with amortizations >25-years) 
  • Access to Genworth’s Homebuyer Privileges™, an exclusive on-line discount program for commonly purchased household items 
  • Enhanced qualifying: Debt Servicing Ratios can be calculated using the estimated reduced heating costs as per the energy efficiency evaluation report 
  • Available on all Genworth mortgage insurance products 
Mortgage Insurance Premium Refund Example:


 $300,000 mortgage @ 95% LTV with 35-year amortization

 Premium Payable*RefundEnergy-Efficient Premium Refund
Standard Premium$8,25010%$825
Amortization Surcharge$1,200Full$1,200
Total Premium$9,450Total Refund$2,025


*Mortgage Insurance Premium does not include any applicable provincial sales tax.

Loan Purpose

  • Purchase
  • Purchase or Refinance with improvements (Where the improvements are being made to make the home more energy-efficient and are funded through a Genworth insured mortgage)

How to get your Refund

Getting your energy-efficient refund is as easy as 1-2-3:

1) Satisfy our eligibility requirements below:

    Purchasing a new or existing home*:
    • EnerGuide Rated 77+ or R-2000, R-3000 compliant; or
    • Built under a Genworth qualifying energy efficient building program  (to view the current list click here)

For high-rise condominium units, the building in which the unit is being purchased must be;

    • Registered with the Canada Green Building Council or LEED® certified or
    • 25% more energy efficient than Canada’s Model National Energy Code for Buildings

Renovating an existing home*:

    • Certify that energy-efficient improvements have been made to increase its EnerGuide rating by at least five points to a minimum rating of 40.

* The home being purchased or renovated must be Genworth-insured and funded on or after January 1, 2005

2) Apply by downloading the application form.

To get a copy of the application form, choose your mortgage provider from the list and click "Download"
download

3) Submit by mailing or faxing your completed application, along with the following documentation (see below) to:

      Genworth Financial Canada
      2060 Winston Park Drive
      Suite 300
      Oakville, ON L6H 5R7

      Fax: 1 877 246.5509
      Attention: Finance Department - Energy Efficient Group

      Documentation requirements to accompany application form:

Purchasing a new or existing home:

  • Provide a copy of the first page of your energy efficiency evaluation report or R-2000 certification or
  • Provide documentation certifying your home was built under a Genworth qualifying energy efficient building program

For high-rise condominiums, provide a copy of the building’s LEED ® - Certification or confirmation that the project has been registered** with the Canada Green Building Council or
Confirmation from the builder that the condominium is 25% more energy efficient than Canada’s Model National Energy Code for Buildings
 
**For a list of projects registered with the Canada Green Building Council click here

Renovated existing homes:

  • Provide a copy of both the pre-improvement and the post-improvement energy efficiency evaluation report (For an EnerGuide rating please refer to a licensed energy advisor) 

    To contact an Energy Advisor click here.

Refunds are processed and mailed within 7 business days of receipt of application. Genworth must receive all mortgage insurance premiums and fees prior to issuing the premium refund.

How to get your Homebuyer Privileges™

Along with the refund, you'll receive a password and instructions, enabling you to register as a new member of Homebuyer Privileges™ on our website. There you'll get access to great savings on home-related products and services including major appliances, moving services and rentals, security systems, home services, computers and more.

* Available to customers of participating Financial Institutions. For further information, contact us toll free at 1 800 511.8888.

Genworth Eligible Energy-Efficient Building Programs

Homes built under the following programs will qualify for the eligible premium refund without the requirement for an individual energy efficiency evaluation report: 

 

 

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