The Canada Greener Homes Loan helps Canadians make their homes more energy-efficient and comfortable. It offers interest-free financing in addition to the Canada Greener Homes Grant to help you complete some of the more major retrofits recommended by your energy advisor.
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.
A maximum of one loan is available per eligible property and homeowner.
The loan can only help you finance eligible products and installations that are part of a retrofit that is both recommended by an energy advisor and eligible for the grant.
To begin work in your home, a portion of the loan can be delivered to you up front. Contractors often require a down payment for these types of projects. The balance of the loan will be delivered upon successful completion of the retrofits and verification through a post-retrofit evaluation.
There are a few eligibility requirements to meet before applying for the loan:
You must be eligible for and apply for the Canada Greener Homes Grant or the equivalent provincial program
You must be a Canadian homeowner, and your home must be your primary residence
You have completed a pre-retrofit evaluation of your home dated April 1, 2020, or later
You have a good credit history and aren’t under:
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding
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 are not eligible for a Canada Greener Homes Grant
Retrofits that aren’t included in your application
The Canada Greener Homes Loan is now open to homeowners who wish to apply or have an active application (at the pre-retrofit stage) with the Canada Greener Homes Grant.
Starting August 31, 2022, homeowners who have already requested a post-retrofit evaluation or received a grant payment will be eligible to apply to the Canada Greener Homes Loan for any remaining eligible retrofits they wish to pursue, but have not yet started.
Homeowners who have completed all their retrofits are not eligible to apply for the Canada Greener Homes Loan. However, homeowners may be eligible to apply to the loan for any remaining recommended retrofits that have not yet started.
In order to apply for the loan, you must first apply and be eligible for the Canada Greener Homes Grant. CLICK HERE
A service organization will reach out to schedule a pre-retrofit EnerGuide evaluation of your home with an energy advisor. They will evaluate your home and make recommendations on how to make it more energy-efficient and resistant to climate change.
Only retrofits that have been recommended by an energy advisor and are from the grant’s list of eligible retrofits and installations are eligible for the loan.
Review the report’s recommendations and decide which retrofits work best for your budget and renovation plans.
You can’t ask for a bigger loan if you decide to do more retrofits later, so it’s important to plan your work in advance before applying for the loan.
Log in (CLICK HERE) to your Canada Greener Homes account, and click the button to access the loan portal. To submit your application, you will have to upload documentation to the loan portal, such as:
- Your property tax statement
- Your driver’s licence or other government-issued ID, together with a utility bill
- A confirmation of income and employment (for example, a job letter or a T4 slip)
- Your quotes from us
Based on your application, the program will calculate the maximum loan amount you are approved for. To activate your loan offer, you will be asked to carefully review the information and accept the loan agreement.
Please note: a portion of the loan can be delivered to you up front in order to pay applicable down payments to contractors. The balance of the loan will be delivered once the retrofits have been successfully completed and verified through a post-retrofit evaluation.
Upfront costs
You can access a portion* of your loan funds in advance to pay for upfront costs, such as paying a deposit to us. You can request the advance on your loan during your application by demonstrating that an upfront payment is required. You can do that by uploading the quotes you received from us and by entering the deposit amounts required to do the retrofit.
* Up to a maximum of 15% of the eligible cost of retrofits requiring an upfront payment.
Start your work, and make sure to keep copies of all your receipts and invoices along the way.
Once the retrofits are complete, contact your service organization to request a post-retrofit EnerGuide evaluation. An energy advisor will evaluate the impact of your improvements and provide you with an updated EnerGuide label and a new report that estimates how much you can receive for your grants.
The energy advisor will update the information related to your final evaluation in the Canada Greener Homes portal, including the estimates of your final grant amount. You will also have to upload all your final invoices and receipts to the Canada Greener Homes portal, and receipts for the retrofits to the loan portal. The loan amount will be reviewed again based on the actual cost of the completed retrofits.
- If the actual costs of the completed retrofits are lower than the initial cost estimates, the loan amount will be decreased
- If the actual costs are higher than the initial cost estimate, the loan amount will not be increased
The final approved loan amount will be deposited into your bank account (less the initial advance, if you received one) within 10 days.
You will receive detailed information on the repayment of your loan over the 10-year period.
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