Making a decision on which bank/financial company to use for your mortgage can be very overwhelming to say the least. Nearly half of all Canadians are planning energy efficient upgrades to their homes in the next year as utility costs are a big part of home ownership so reducing costs is the smart thing to do. BMO wants to reward homeowners who have done things to reduce their energy costs with a special mortgage rate.
BMO is introducing the Eco Smart Mortgage for Canadians who meet their energy efficiency criteria. The Eco Smart Mortgage has a five-year fixed rate of 3.89% (subject to change) which is lower than other comparable green mortgage products. What the homeowner does is download the checklist for house or condo from the BMO. After reviewing the checklist if the homeowner thinks that they qualify then they contact BMO and talk to a mortgage specialist.
I went through the checklist for our house and it's really easy to do. To qualify your house has to have 6 out of 7 energy efficient features that are listed. The list includes things such as appliances, window, doors, hot water tanks and furnaces. Our house has 2 out of 7 and part of the appliance category which is a fail. Our house isn't very energy efficient at all. Coincidentally though our current mortgage rate is the same or lower than the 3.89% offered anyway without giving away the actual number. We would love to have all the energy efficient features listed but the biggest thing holding us back is money! Windows can get very expensive when there's a house full of them to replace. We're just going to start small such as with doors and if the furnace kicks the bucket then we'll look at replacing that too. For more information visit the website here.
I get the opportunity to give one of my readers a $50 Rona gift card! For a mandatory entry you must comment about your efforts or future plans to make your home more energy efficient. Contest is open to Canadians only and ends on May 15th.
For bonus entries:
1. Follow with GFC and comment that you did
2. Follow my facebook page and comment that you did
3. Follow with networked blogs and comment that you did
4. Subscribe by email and comment that you did
Disclosure – I am participating in the BMO Eco Smart Mortgage program by Mom Central Canada on behalf of BMO - Bank of Montreal. I received a gift card as a thank you for my participation. The opinions on this blog are my own.
We are putting in a new furnace this year. It will definitely help our home be more energy efficient.
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I follow your facebook page. (Amy M)
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We are having are windows re-caulked.
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we are going to get a on demand water heater you know the ones that have no tank
ReplyDeleteI've replaced all of the household lights with energy efficient bulbs and am working to reduce the total amount of energy consumed by; turning off "energy ghosts" ,turning down the thermostat in winter and setting the aircon higher in summer. The next thing we are considering is the purchase of an on-demand water heater.
ReplyDeleteWe ( hubby and I ) bought energy efficient appliances, we have replaced all our old bulbs with new energy efficient ones throughout our house. We recycle paper, cardboard, cans, plastic, newspapers etc at our local recycling depot. We turn off the furnace at night and put a sweater on instead to save energy. we unplug appliances, computer, printer etc when not in use!
ReplyDeleteWe are renovating an old log ranch house. Filling in the spaces between the logs and reinsulating the attic are top priorities. Window sills will need some silicon fill and insulating curtains will be installed. It gets to 30 below here often, so it's essential that the house is heat efficient!!!
ReplyDeleteWe went to Rona (like to support Canadian stores) looking for some insulation and wood/moldings/trim etc. since we were doing some work in the basement. I wanted to buy "green" but it's funny, there aren't many "wood type" products that are green out there yet. Anyway, we bought what we could in the "green" area, even though they were more expensive, but I really want to lower my carbon footprint on this world! We put in a high efficiency furnace and new air conditioner unit as well. The hydro bills were down quite a bit this winter.
ReplyDeleteI follow your facebook page. :)
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We are having are windows re-caulked.
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follow in gfc
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i follow on facebook
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all our appliances are being replaced by enery star appliances
ReplyDeleteall our appliances are being replace by energy star appliances nrobak101@hotmail.com
ReplyDeleteI just had someone come on Monday to measure and give a quote on new windows. I'm scared but know that I need to replace two for sure as they have had the cold winter air blowing in for months. He measured for all windows. I'm hoping I don't have a heart attack when I read the quote!
ReplyDeleteI'd like to get an induction stove to save energy while cooking
ReplyDeleteI switched to all energy-saving light bulbs. I wash in cold water. And I bake in a little toaster oven to save energy : )
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ReplyDeleteOur future plan to make our home more efficient is to replace our old dishwasher with a newer model which uses less electricity and less water.
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We have repleaced our furnace and hot water tank with energy efficent ones and half the bulbs in our house so far!
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We added draft-cutters and low-flow showerheads!
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I follow on GFC as MommyKat
ReplyDeleteWe're planning to upgrade attic's insulation
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GFC Follower
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we have already converted to low flow taps and shower heads and energy effiecinet light bulbs, i am also on a big unplug campaign in my home, what we do need though is ENERGY STAR qualified windows, that will be a big one, but soo needs to be done
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i follow you on GFC (roswell)
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i subscribed by email
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i like your facebook page stacey dempsey
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I plan to make my home more energy efficient by switching all the light bulbs
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This summer we're replacing both the old furnace and water tank. Plus, we're renovating the attic and re-insulating it. Please accept this as my mandatory entry. Thank you!
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I like your blog on Facebook under the below name. Thank you!
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I follow your blog via GFC under Swedish Mamas. Thank you!
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I subscribe to your blog via email under the below address. Thank you!
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I use energy saving light bulbs.
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Since our house is newer all of our appliances and house is energy star, thus energy efficient. We have changed some of our bulbs over.
ReplyDelete(btw I am having the same giveaway on my blog http://www.theknitwitbyshair.com)
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We just recently purchased an energy efficient front loading washer and dryer and hoping to replace our freezer with an energy efficient very soon
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We recently bought new energy efficient washer and dryer.
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I am following on google friend connect as Anne-Marie T.
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I liked your Facebook page (Anne-Marie T)
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Following on Networked blogs (Anne-Marie T)
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I plan to purchase energy efficient appliances
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I like you on FB - Carrie M
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I plan to replace my drafty front door with an Eco friendly one.
ReplyDeleteWe have replaced all our windows with triple thermopane glass and we are currently finishing the basement and installing proper insallation with vapor barrier and then it will be sheeted in with drywall.
ReplyDeleteI follow you on twitter
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ReplyDeleteWe have recently replaced all of our windows and toilets, our washer and dryer and insulated our basement and crawl space. We plan on replacing our hot water heater soon.
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we are planning to instal solar pannels on the roof
ReplyDeleteWe plan on redoing the caulking around our windows this summer
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I follow on google friend connect
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I like you on facebook - Belinda M
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We plan on replacing our basement windows before the next winter.
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I will be switching to all energy saving bulbs and lighting in my home;)
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following on GFC (Tasha W)
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liked your FB page (Tasha W)
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We have replaced all our bulbs in our home, and recently replaced our furnace and A/C. Our appliances are all energy efficient. I have really noticed the savings
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I follow you on GFC (Cathy M)
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In the very near future we are looking to replace our mid-efficiency (~80%) furnace with a high-efficiency (up to 98%) furnace.
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I'm your confirmed email subscriber.
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I'm your public GFC follower
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doing home reno this summer new floors
renos this summer new floors, painting the whole house.
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we've developed our basement with "green" insulation and a high efficiency shower/toilet.
ReplyDeleteMandatory entry: All of our large appliances and most of our light bulbs are energy efficient. Our home was built in 2007 so as a whole it is well insulated, however there does appear to be an issue with draftiness from the garage and front hall closet which we plan to look into.
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New GFC follower! (Kristy AC / Manager to Mom)
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Following with GFC loriagalbraith@gmail.com
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ReplyDeleteI switched out all my lightbulbs and wash using cold water. The building I am in needs work, and so I will be leaving in the next couple of months. My potential new place has energy efficient appliances, and new windows already. Once I get settled, I will look at other things that I can do.
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GFC-Christine Davis
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I want to get some energy efficient appliances!
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We are hoping to replace our old dishwasher with an energy-efficient one soon!
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Following with GFC.
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We just bought our home and are making it more energy efficient by replacing the old windows, and also replacing the old appliances with new ones.
ReplyDeleteThanks for the chance :)
meangreenmom[at]gmail[dot]com
I'm a gfc follower
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I'm an e-mail subscriber too :D
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I have just installed a new furnace but I could use the gift cards to purchase new filters to keep it running efficiently.
ReplyDeleteI am a gfc follower
That is indeed a brilliant idea.there is a growing need to save the earth from the pollution levels that exist and help it breathe better.
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