CANADA GREENER HOMES $40,000 Interest-Free Loan
LOAN DETAILS
- Maximum: $40,000
- Minimum: $5,000
- Repayment term: 10 years, interest-free
- Loan type: Unsecured personal loan on approved credit
- Only upgrades eligible under Canada Greener Homes Qualify for a loan
- Can request up to 15% of the loan for contractor deposit. The balance of the loan will be delivered upon successful completion of the retrofits, and verification through a post-retrofit evaluation
- A maximum of one loan is available per eligible property and homeowner
ELIGIBILITY
There are a few eligibility requirements to meet before applying for the loan:
- You must apply and be eligible for the Canada Greener Homes Grant or provincial program for Nova Scotia and Quebec
- You must be a Canadian homeowner and your home must be your primary residence
(Ontario Landlords NOT Eligible) - You have completed pre-retrofit evaluation of your home dated April 01, 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
STEPS TO FOLLOW:
Step 1: Complete a 1st Energy Audit
Step 1: Secure a quote for a contractor(s) for any eligible upgrades under the Canada Greener Homes Grant
Step 1: Once your report has been uploaded by The Home Inspectors Group. Visit www.cghli.ca
You will have to upload the following documentation:
- 1st Audit File ID – (on your report)
- your property tax statement
- your driver’s license 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 contractors
Step 1: Wait for pre-approval
Step 1: Complete and pay for all upgrades that are being applied for
Step 1: Complete final audit
Step 1: Homeowner to submit final documents as requested by Canada Greener Homes
Step 1: Receive Final Loan amount into bank account
