Energy Efficient Housing Program

Sagen wants to help protect the environment and support consumers as they make environmentally friendly choices.  Through the Sagen Energy-Efficient Housing Program, homebuyers purchasing a newly constructed energy-efficient home are eligible for premium savings when Sagen mortgage insurance is obtained.

Consumer Benefits

• A refund of 25% of the Sagen mortgage insurance premium (including applicable provincial sales tax).
• Available on all Sagen mortgage insurance products.

Mortgage Insurance Premium Refund Example :

*Mortgage insurance premium does not include any applicable provincial sales tax.

Loan Purpose

• Purchase of a new construction property

Eligibility Requirements

To be eligible for the premium refund of 25%, the level of energy efficiency can be determined via one of the following options:

• The newly built home meets one of the following criteria:
  • Certified Energy Efficient: holds a certification from an eligible program. (Refer to “eligible certifications” section below)
  • Lower Energy Consumption: uses at least 20% less energy (in gigajoules/year) than “A Typical New House” based on NRCan’s EnerGuide Rating System. (Refer to “Energy Consumption” section below)

Eligible Certifications:

• A newly constructed property that has received a certification from one of the following programs is eligible for the 25% premium refund:

Energy Consumption:

• A new construction property that has an NRCan EnerGuide (gigajoules/year) rating at least 20% lower than “A Typical New House” is eligible for the 25% premium refund.

Additional Criteria:

• Sagen must receive all mortgage insurance premiums prior to issuing the partial premium refund.
• The partial premium refund is based on the amount of premium paid on the Sagen insured loan at the time of funding. In the event a borrower is utilizing Sagen’s Portability Program to port an existing mortgage to a new energy efficient home, the premium refund would only be applicable to the increase in loan amount.
• The date of the premium refund application cannot be greater than 24 months from the closing date of the mortgage.
• All supporting energy-efficient documentation cannot be greater than 5 years old.

To apply for the Energy-Efficient Rebate:

Please complete the online application and upload the required documentation electronically or download and complete the PDF version. Submit the document by mailing your completed application, along with the required documentation to:

Sagen
2060 Winston Park Drive
Suite 300
Oakville, ON L6H 5R7

Attention: Finance Department – Energy Efficient Group

Documentation requirements to accompany application form

• Documentation confirming your home was built under a certified program.

OR

• A copy your EnerGuide Label confirming the energy consumption rating meets the Energy Efficient Housing Program requirements.

Refunds are processed and mailed within 8-12 weeks of receipt of application.

Please Note: If you are submitting an Energy Efficient application, Sagen reserves the right to request additional information or documentation beyond what is outlined above in order to complete the application process.