Improve your home’s energy efficiency with a Canada Greener Homes Loan
The Canada Greener Homes Loan helps Canadians make their homes more energy efficient and comfortable. It offers interest-free financing in addition to the Canada Greener Homes Grant to help you complete some of the more major retrofits recommended by your energy advisor.
To begin work in your home, a portion of the loan can be delivered to you up front. Contractors often require a down payment for these types of projects. The balance of the loan will be delivered upon successful completion of the retrofits, and verification through a post-retrofit evaluation.
All loan applicants
June 17, 2022 - The Canada Greener Homes Loan is now open to:
Eligible applicants who are applying to Canada Greener Homes Grant.
Active applicants at the pre-retrofit EnerGuide evaluation stage with the Canada Greener Homes Grant.
By August 31, 2022, The Canada Greener Homes Loan will open to:
Homeowners who have already received a grant or requested a post-retrofit EnerGuide evaluation under the Canada Greener Homes Grant and want to apply for any remaining eligible retrofits they are interested in pursuing and have not yet commenced.
There are a few eligibility requirements to meet before applying for the loan:
New Brunswick and British Columbia (West Kootenay) Residents
New Brunswick and British Columbia (West Kootenay) have requested that we direct residents in those provinces to go through the provincial program first to ensure homeowners can take advantage of the network of energy advisors already established in those provinces.
A service organization will reach out to schedule a pre-retrofit EnerGuide evaluation of your home with an energy advisor. They will evaluate your home and make recommendations on how to make it more energy efficient and resistant to climate change.
3. Plan your retrofits and get quotes from contractors
Review the report’s recommendations and decide which retrofits work best for your budget and renovation plans. Speak with contractors and get at least 1-3 quotes for each of the retrofits in your plan.
You can’t ask for a bigger loan if you decide to do more retrofits later, so it’s important to plan your work in advance before applying for the loan.
4. Submit an application to the loan
Log in to your Canada Greener Homes Grant account and click on the button to access the loan portal. To submit your application, you will have to upload documentation to the loan portal, such as:
your property tax statement
your driver's license or other government issued ID together with a utility bill
a confirmation of income and employment (for example, a job letter or a T4 slip)
your quotes from contractors
Based on your application, the program will calculate the maximum loan amount you are approved for. To activate your loan offer, you will be asked to carefully review the information and accept the Loan Agreement. Please note: a portion of the loan can be delivered to you up front in order to pay applicable down payments to contractors. The balance of the loan will be delivered upon successful completion of the retrofits, and verification through a post-retrofit evaluation.
You can access a portion* of your loan funds in advance to pay for upfront costs, such as paying a deposit to your contractor. You can request the advance on your loan during your application by demonstrating that an upfront payment is required. You can do that by uploading the quotes you received from contractors and by entering the deposit amounts required to do the retrofit.
* Up to a maximum of 15% of the eligible cost of retrofits requiring an upfront payment. This amount is increased to 25% if your property is located in the North or off-grid.
5. Complete your retrofits and keep receipts and invoices
Start your work and make sure to keep copies of all your receipts and invoices along the way.
6. Get a post-retrofit EnerGuide evaluation
Once the retrofits are complete, contact your service organization to request a Post-Retrofit EnerGuide evaluation. An energy advisor will evaluate the impact of your improvements and provide you with an updated EnerGuide label and a new report that estimates how much you can receive for your grants.
7. Receive your loan amount
The energy advisor will update the information related to your final evaluation in the grant portal including the estimates of your final grant amount. You will also have to upload all your final invoices/receipts to the grant portal and receipts for the retrofits to the loan portal. The loan amount will be reviewed again based on the actual cost of the completed retrofits, less the recommended grant amount.
If the actual costs of the completed retrofits are lower than the initial cost estimates, it will be adjusted downwards.
If the actual costs are higher than the initial cost estimate, it will not increase.
The final approved loan amount will be deposited into your bank account (less the initial advance, if you received one) within 10 days.
8. Repay your loan over time
You will receive detailed information on the repayment of your loan over the 10-year period.
Apply for the Greener Homes Grant or the Greener Homes Loan
Remember, before you can apply for the loan, you must:
Be approved for the Greener Homes Grant
Have a pre-retrofit evaluation done and have your renovation upgrade report
Receive quotes from contractors for the retrofits you plan to do
Please note: You will only receive your final loan amount after your completed work has been verified through a post-retrofit evaluation
You can always view your application by logging in your Greener Homes profile.
What is the difference between the grant and the loan?
The grant provides:
up to $5,000 of the eligible, recommended retrofits that you complete
up to $600 towards your eligible evaluations
The grant is available once the:
retrofit and post-retrofit evaluation is complete
final invoices have been provided
Natural Resources Canada has completed the final assessment of the grant amount
Loan funds are also available once:
retrofit and post-retrofit evaluation is complete
final invoices have been provided
Natural Resources Canada has completed the final assessment of the loan amount
You may be eligible to receive a portion of your loan funds in advance to pay for eligible up-front costs.
The loan can be up to $40,000, has a 10 year repayment term and is interest free.
If I've already applied for the grant, how do I apply for the loan?
Apply for and be eligible for the grant.
Book a pre-retrofit evaluation of your home.
Decide which retrofits you’d like to complete from your Energy Advisor’s Renovation Upgrade Report.
Seek out quotes from contractors for the recommended retrofits you plan to complete (at least one quote is mandatory, 3 quotes is optimal).
Submit an application for the loan, including your quotes, through the Greener Homes portal (or your Greener Homes Account).
I've already started or completed my retrofits, how do I apply for the loan?
You must be approved for the loan before you start your retrofits.
You won't be able to submit an application for the loan if you’ve already started or completed your retrofits. Even if you started or completed retrofits that were included in your pre-retrofit evaluation report.
To be eligible for a loan, you must apply, upload 1-3 quotes from contractors, and be approved through the Canada Greener Homes portal before you start any retrofits.
Can I get the loan without applying for the grant?
No, only homeowners who are eligible for the Greener Homes Grant can apply for the Canada Greener Homes Loan.
Will this loan appear on my credit bureau?
Yes, the loan and it’s performance will be reported to Equifax.
How do I apply for a loan if I’m a resident of Quebec or Nova Scotia?
First, you need to enroll through your provincial program. You will need to schedule a pre-retrofit evaluation of your home and obtain a Renovation Upgrade Report detailing the Energy Advisor’s recommendations for your home.
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