Canada Greener Homes Loan

The Canada Greener Homes Loan

Canada Greener Homes Loan

Up to $40,000, the Canada Greener Homes Loan helps you finance eligible retrofits that are recommended by an energy advisor. The Loan offers interest-free financing to help you make your home more energy efficient and comfortable. The minimum loan is $5,000 and the maximum loan amount is $40,000, repayment term is 10 year, Interest-Free! We guide customers through the loan application process, providing consultation to maximize their approval chances and optimize rebates.

Call us today for a free consultation.

(647)725 - 2555

Loan Details

Maximum: $40,000

Minimum: $5,000

Repayment term: 10 years, interest-free

Loan type: Unsecured personal loan on approved credit

A maximum of one loan is available per eligible property and homeowner.

The maximum eligible loan amount is calculated based on the retrofits selected in the application and the quotes for this work. The eligible amount is capped based on industry standards and market norms. The maximum eligible loan amount may be less than your quoted cost, in which case you will be responsible for funding any difference.

Once approved, a portion of the loan can be delivered up front to assist in paying any deposits required by your contractor. The balance of the loan will be delivered after the retrofits have been completed and verified through a post-retrofit evaluation.

Eligibility

All loan applicants

There are some eligibility requirements to meet before applying for the loan:

You must be a Canadian citizen, permanent resident, or non-permanent resident who is legally authorized to work in Canada

You must own the home and it must be your primary residence

You have a pre-retrofit evaluation and have not yet had a post-retrofit evaluation

Your pre-retrofit evaluation was completed on or after April 1, 2020

You have not started the retrofits for which you are seeking a loan

You have a good credit history and are not in:

A consumer proposal

An orderly payment of debt program a bankruptcy or equivalent insolvency proceeding

This is for guidance purposes only. For complete details, please visit Canada Greener Home Loans.

MEASURES

DESCRIPTIONS

REBATE AMOUNT

Attic Insulation - The maximum grant amount for any combination of attic, cathedral ceiling, and flat roof insulation is $1,500.

Upgrade attic insulation to at least R50 from the current R26 to R35

A minimum of 20% insulation is necessary

$900

Upgrade attic insulation to a minimum of R50 from the current range of R13 to R25

A minimum of 20% insulation is necessary

$1,200

Upgrade insulation to at least R50 from R12 or lower

A minimum of 20% insulation is necessary

$1,500

Cathedral or Flat Roof Insulation - Prorated based on a minimum completion of 20% and applies if there are multiple attics.

Upgrade insulation to at least R20 or higher from R12 or lower

$780

Upgrade insulation to at least R28 or higher from R13 or R25

$780

Exterior Wall Insulation - Prorated based on achieving a minimum of 20% completion - applies to semi-detached and row homes

Add at least R7.5 to R12 to 100%

$1,200

Add at least R13 to R20 to 100%

$2,100

Add at least R20 & above to 100%

$3,600

Exposed Floor Insulation - Minimum area required is 11 square meters or 120 square feet, applicable to overhangs or floors above garages

Add at least R20

$300

All Foundations - When both a basement and crawlspace are present, grants are adjusted proportionally up to a maximum of $1,500, determined by the total wall area. Any combination of foundation wall and header upgrade counts as one measure.

Basement Header - Add at least R20 to 80%