Canada Greener Homes Loan

Canada Greener Homes Loan & Canada Greener Homes Grant:

The Canada Greener Homes Loan provides interest-free loans between $5,000 and $40,000 with a repayment term of 10 years to help finance major home retrofits. For information on the Home Efficiency Rebate Program Plus (HER+), the co-delivered rebate program from Enbridge Gas and Natural Resources Canada that offers up to $10,000 in rebates for home insulation upgrades, click here.

Launched on June 17, 2022, the Canada Greener Homes Loan offers interest-free financing up to a maximum of $40,000 to make Canadian homes more energy efficient. The Canada Greener Homes Loan is a program in addition to the Canada Greener Homes Grant, offered to help homeowners complete larger home retrofits as recommended in the required EnerGuide home energy assessment.

As of June 17, 2022, the Canada Greener Homes Loan is available for applicants who plan to apply for the Canada Greener Homes Grant, or those who are at the pre-retrofit EnerGuide evaluation stage of the Canada Greener Homes Grant. Later this summer, the Canada Greener Homes Loan will be available to homeowners who have already received a Canada Greener Homes Grant reimbursement, or those who have completed work under the Canada Greener Homes Grant and are awaiting a post-work EnerGuide energy assessment.

Eligibility

The below eligibility criteria is taken from the official Canada Greener Homes Loan program page on the Natural Resources Canada website. For full, official eligibility requirements, click here.

The Canada Greener Homes Loan is available to Canadian homeowners who:

• Apply for and are eligible for the Canada Greener Homes Grant in Ontario.
• Reside in their home as their primary residence
• Have completed a pre-retrofit EnerGuide evaluation dated April 1, 2020 or later
• Have good credit history (not under a consumer proposal, orderly payment of debt program, or bankruptcy or equivalent insolvency proceeding).

The Canada Greener Homes Loan does not apply for home retrofits that:

• Have already been started or completed
• Haven’t been recommended by a registered energy advisor
• Are not eligible for a Canada Greener Homes Grant
• Are not included in your application for the Canada Greener Homes Loan

Important Program Notes

• The same pre-work energy assessment utilized for the Canada Greener Homes Grant can be utilized for the Canada Greener Homes Loan, as long as it is dated after April 1, 2020 and work has not begun on any retrofit projects.
• The Canada Greener Homes Loan only applies to work that is applicable for the Canada Greener Homes Grant.
• The Canada Greener Homes Loan provides an unsecured personal debt obligation and does not require collateral.
• The minimum loan amount is $5,000, and the maximum loan amount is $40,000. The Canada Greener Homes Loan is interest-free, and the amount you are eligible for is dependent on the planned retrofits for your home.
• The Canada Greener Homes Loan is applicable for primary residences used for business purposes, so long as at least 50% of the space is deemed residential. The loan can only be utilized to cover costs for eligible retrofits completed on the residential portion of the property.
• The Canada Greener Homes Loan can only be utilized on your primary residence. If you own more than one property, only your primary residence is eligible to obtain a loan through the Canada Greener Homes Loan.

Great Northern Insulation is Your Contractor of Choice

Once you have applied for the Canada Greener Homes Loan and completed your pre-work EnerGuide energy assessment, the next step is getting quotes from reputable contractors to complete your retrofit upgrades.

Great Northern Insulation will provide you with a free quote for your Canada Greener Homes Loan project, enabling you to move forward with your application.

If you have completed your pre-retrofit EnerGuide energy assessment and are looking to obtain quotes for your Canada Greener Homes Loan application, click here to contact us today.