Canada Greener Homes Loan

The Canada Greener Homes Loan offers interest-free financing in addition to the Canada Greener Homes Grant to help homeowners complete some of the more major retrofits recommended by your ecostep energy advisor.

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 loan will only finance eligible products and installations that are part of a retrofit that is both recommended by an energy advisor.

To begin work in your home, a portion of the loan can be delivered to you up front which can be used towards contractors requiring a down-payment. The balance of the loan will be delivered upon successful completion of the retrofits, and verification through a post-retrofit assessment.

Eligibility

The Canada Greener Homes Loan is open to:

• You have completed pre-retrofit assessment of your home dated April 01, 2020 or later
• You must be a Canadian homeowner and your home must be your primary residence
• You have a good credit history
• You will be asked to share financial information to demonstrate that you have the financial capacity to repay the loan.

This loan does not apply to the following work:

• work that you’ve already started or completed
• retrofits that haven’t been recommended by an energy advisor
• retrofits that aren’t included in your application

Important Program Notes

• 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.

Process

Qualifying for the loan requires a pre-work energy assessment, the completion of at least one energy efficiency retrofit upgrade, and a post-work energy assessment following the upgrade(s). The loan is applied during the pre-work application process

ecostep recommends the following path for our Ontario customers looking to apply for a loan:

1. Contact ecostep to discuss your project and schedule an energy assessment
2. Complete your online registration on the Greener Homes Grant Portal. The homeowner is responsible for this step and only the homeowner can register the project
3. Complete a “pre” home energy assessment with ecostep. The cost of the “pre” and “post” energy assessment, up to $600, will be reimbursed as part of the grant finalization
4. Customer will receive a Homeowner Information Sheet with an EnerGuide rating and Renovation Upgrade Report and ecostep Rebate Report. These can be used to help make decisions about retrofits and see what rebates are available before the renovation project begins.
5. When you’ve decided on you retrofit project(s), apply for loan by logging in and using the same Natural Resources Canada application portal that was used to submit your initial application. 
6. Complete at least one energy efficiency retrofit (two retrofits if combining with the Enbridge Home Efficiency Rebate) that is both eligible and recommended in the report you will from ecostep. Be sure to keep copies of all your receipts and invoices along the way.
7. Complete a “post” home energy assessment with ecostep.
8. Upload all documents online via the to complete all requirements
9. Receive your loan amount
10. Repay your loan overtime
11. Keep all documentation until March 31, 2028.