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.
Top Available Upgrades
windows + doors
Commonly Asked Questions
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.
Thanks for reaching out! And, no. The loan is an unsecured personal debt obligation, which means we don’t require any collateral.
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:
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.
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.
You can only receive funding through the loan for costs directly associated with the retrofits recommended by your Homesol Energy Advisor.
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%.
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.
You have 120 months to repay the loan once you’ve been approved and signed an agreement.
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