Canada’s Greener Homes Loan is a government program that was introduced to promote consumers to complete energy-efficient upgrades for residential properties. Through this program consumers can get affordable financing to help them upgrade their homes.
Benefits of Energy-Efficient Windows and Doors
- Energy-Efficient Windows and Doors: Upgrade your home’s windows and doors to improve insulation and reduce drafts. Our high-quality products are designed to keep your home comfortable year-round.
- Lower Utility Bills: Energy-efficient windows and doors help regulate indoor temperatures, reducing the need for consumers to turn on air conditioning and heaters.
- Environmental Impact: By going with energy-efficient products, you are reducing energy consumption which helps reduce greenhouse gas emissions.
- Increased Home Value: Energy-efficient upgrades increase your property’s value. If you ever choose to sell your house; potential buyers value, the added benefits of efficient windows and doors.
- Comfort and Aesthetics: Our windows and doors not only save energy but also enhance your home’s look and feel.
What is Canada’s Greener Homes Loan?
Canada’s Greener Homes Loan is a financing option provided by the Canadian government to encourage homeowners to invest in energy-efficient upgrades. This loan offers up to $40,000 in interest free loans which are repayable over 10 years.
This program is designed to:
- Reduce greenhouse gas emissions
- Improve home comfort
- Lower utility bills
Loan Details
- Minimum of $5,000 loan to a maximum: $40,000
- Interest-free for 10 years
- Classified as an unsecured personal loan on approved credit
- Only one loan is available per eligible property and homeowner
The Greener Homes Loan will only finance eligible products and installations that are part of a retrofit that is both recommended by the energy advisor and eligible for rebates.
To begin the retrofit work, a portion of the loan can be provided 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 work, and verification through a post-retrofit assessment.
Eligibility
The Loan is available to the following customers:
- Must have completed pre-retrofit assessment of your home on or after April 1, 2020
- Must be a Canadian homeowner and your home must be your primary residence
- Have a good credit history
- Customers 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 has already started or been completed
- Retrofits that haven’t been recommended by an energy advisor
- Retrofits that aren’t included in the loan application
See here for additional requirements.
How to Apply for Canada’s Greener Homes Loan
To qualify for a Greener Homes Loan requires a pre-retrofit EnerGuide audit, the completion of at least one energy efficiency retrofit upgrade, and a post-work EnerGuide audit following the upgrade. The loan is applied during the pre-retrofit application process.
Here is a summary of the recommended steps to apply the loan:
- Complete a Pre-retrofit Audit: Find a certified energy advisor to assess your home’s energy performance. They’ll recommend suitable upgrades, including windows and doors. Click here for a list of NRCan certified organizations that conduct energy audits.
- Contact Us: Reach out to us and mention you are interested in participating in Canada’s Greener Homes Loan. Our team can guide you in selecting energy-efficient windows and doors that meet your needs and style preferences.
- Apply for the interest-free loan: Once a energy advisor has performed the pre-retrofit EnerGuide audit recommending energy efficiency improvements and you have received a cost to retrofit with qualified windows and doors, you are ready to apply for a loan. Click here to go to the Canada Greener Homes Loan Portal.
- Upgrade with Confidence: Once you have been approved, we can proceed with the installation of your new windows and doors. You’ll receive 15% of the total value of the project as part of a deposit to initiate the work.
- Schedule a post-retrofit EnerGuide evaluation: Book a follow-up appointment with your energy advisor to submit the required documents online.
We hope find this information on the Canada’s Greener Homes Loan useful. If you require more information regarding this program, please contact us at customerhelp@pollardwindows.com
Disclaimer: This blog post provides general information about Canada’s Greener Homes Loan. For full details and eligibility criteria, go to the Canada Greener Homes Loan Site.