Greener Homes Loan Program

The Federal Government has rolled out the Greener Homes Loan Program, an interest-free loan program providing Canadian Homeowners with up to $40,000 to make energy-efficient upgrades to their home. The program is an extension of the existing Canada Greener Homes Grant, which offers Canadian homeowners up to $5,600 for energy-efficient upgrades including solar panels, heat pumps, insulation, windows, and more.

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Interested in a Home Energy Assessment?

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Top Available Upgrades

heat pumps

air sealing

renewable energy

hot water

windows + doors

insulation

Commonly Asked Questions

Can I use the same pre-retrofit evaluation for my grant and loan application?

Yes you can use the same evaluation for both your grant and loan applications, so long as it’s dated on or after April 1, 2020 and you have not commenced your retrofits. Loan applications must be completed before any retrofit work commences.

Is the loan secured against my home?

Thanks for reaching out! And, no. The loan is an unsecured personal debt obligation, which means we don’t require any collateral.

Why can’t I see the button to apply to the loan in my grant portal?

You’ll only see the button to apply to the loan once the reports from your pre-retrofit EnerGuide home evaluation have been uploaded to the portal. You can log in to the portal to view the status of your application or retrieve documents at any time:

canada.ca/greener-homes-portal

How much money can I get through a loan?

The minimum loan available is $5000, and up to a maximum of $40,000 interest-free. The actual amount will depend on the retrofits you plan to undertake on your home.

What if the loan doesn’t cover all of my expenses?

There’s a chance that not all of your expenses will be covered by the loan, and you’ll be responsible for paying these costs yourself. Before you apply, we suggest you take a look at what’s eligible so you can plan accordingly: canada.ca/greener-homes-eligible-products

Who is eligible for the loan?

To apply for the loan, you’ll need to apply and get approved for the grant, first. You’ll also need to meet some additional borrower and property eligibility criteria to make sure you’re able to repay the loan. It’s important that you haven’t started the work until you’ve been approved for the loan, otherwise, you will no longer qualify.

Can I add new retrofits to my application if I’ve already signed a loan offer?

Once your loan agreement has been signed, the amount cannot be increased. That’s why we suggest you take your time to review the recommendations from your Homesol Energy Advisor and plan your retrofits carefully before submitting an application.

Can I apply for the loan more than once?

Yes, If you sell your primary residence, you can apply for the loan one additional time on your new primary residence, so long as your previous loan has been paid in full and you have re-applied and been approved for the grant program.

If part of my primary residence is used for business, can I still apply for the loan?

The answer is yes, so long as 50% of the space is deemed residential. However, the loan will only cover eligible costs for retrofits completed on the residential portion of your property.

If I own several properties, can I obtain a loan for each property?

The answer is, no. You can only receive a loan for your primary residence and you’ll need to show proof of ownership as part of your application.

What costs are eligible for the loan?

You can only receive funding through the loan for costs directly associated with the retrofits recommended by your Homesol Energy Advisor.

How would I repay the loan?

You’ll need to start repaying the loan in equal monthly installments, starting on the 1st of the second month after you get the money. For example, if you get your loan on January 10th, your first payment is due on March 1st.

Can I repay my loan faster?

Absolutely! Once you start repaying your loan, you’ll have the ability to make full or partial payments at any time without penalty.

When will I get my loan money?

You can only receive the funds from your loan after you’ve completed your retrofits, received a post-retrofit EnerGuide evaluation, uploaded all your documentation, and requested your loan disbursement through the online portal.

Can I get an advance payment for my loan?

You can receive an initial loan advance up to a maximum of 15% of your eligible costs, so long as it’s used to cover upfront expenses, such as your contractors’ deposits. You’ll need to upload proof of these expenses in your request for an advance. For properties located in northern and off-grid communities and for Indigenous group applicants, this amount is increased to 25%.

If I do the work myself, is it still eligible for the loan?

In short, it depends. Specific retrofits, such as installing mechanical and electrical systems, need to be done by a licensed professional. However, there are other eligible retrofits, like a thermostat, that you can install yourself.

How much time do I have to complete the work once I have been approved for the loan?

You have 12 months, following the date of the loan agreement, to complete the retrofits, obtain the results of the post-retrofit evaluation and request your final loan advance. For homeowners in Northern or off-grid communities, the timeline to complete the work is extended to 24 months.

How long do I have to repay the loan?

You have 120 months to repay the loan once you’ve been approved and signed an agreement.

learn more at nrcan’s website