Process: Mortgage Insurance Rebates for Your Homebuyers
Certification Packages: Is the Right Person Receiving This?
Hot Water Heating Units: Educate Your Homebuyer
25% Mortgage Insurance Rebate for Homebuyers
For those of you achieving BUILT GREEN® Gold or higher, you know you’re able to offer your homebuyers a rebate on their premium mortgage insurance—you pass along savings to your homebuyers and put money back into their pockets!
To ensure you are familiar with the process, we’ve outlined some important information.
1. The Rebate Application Process & Documentation
In your BUILT GREEN® certification package (shown above), you receive a letter for the homebuyer. This is an important document as it directs them to Built Green Canada for their Certificate of Authenticity (shown below), a key requirement for their application.
Homebuyers are then able to apply with their provider of choice (Canada Mortgage & Housing Company, Sagen, Canada Guaranty Mortgage Insurance Company, Royal Bank of Canada, etc.). Find links to rebate programs.
2. Frequently Asked Questions about the Process
How long does it take Built Green to issue a Certificate of Authenticity to the homebuyer?
1 to 2 business days.
How long does it take the mortgage provider to approve the rebate application?
4 to 6 weeks.
How long does it take to receive the rebate from the mortgage provider?
8 to 12 weeks.
3. Your Certification Packages: Is the Right Person Receiving This?
We prioritize remaining up to date on key contacts at your company; however, we want to again check in to ensure we are sending our packages to the correct person. If you would like to make any changes, would you let us know?
Hot Water Heating Units: Educate Your Homebuyer
Are you incorporating tankless units in your builds? Do you ever receive complaints from homebuyers / renters about how long it takes for hot water to come? Whatever you decide, take the opportunity to educate your homebuyer:
- Time Difference: hot water delivery to the faucet will range from 5-6 seconds faster for hot water tanks—it varies based on the product line.
- Energy Savings: the advantage of the tankless is more about the energy savings that are otherwise lost with a hot water tank, which on average, is 70% efficient, while a tankless on average is 93-96%.
- Water Usage: a hot water tank uses 1.5 gallons per minute. For the five seconds it takes to heat up the tankless water: 1.5 gallons ÷ 60 seconds x 5 seconds = 0.125 gallons of water.
Note: there are some models, for example the Navion, that feature a recirculation pump, which ensures that hot water is readily available, reducing the wait time for hot water and minimizing water waste. And some models have a logic circuit that will learn the user’s behaviour to reduce hot water wait time.