Renewable Energy Support
Canada Greener Homes Loan
Eligibility
All loan applicants
There are some eligibility requirements to meet before applying for the loan:
- You must be a Canadian citizen, permanent resident, or non-permanent resident who is legally authorized to work in Canada
- You must own the home and it must be your primary residence
- You have a pre-retrofit evaluation and have not yet had a post-retrofit evaluation
- Your pre-retrofit evaluation was completed on or after April 1, 2020
- You have not started the retrofits for which you are seeking a loan
- You have a good credit history and are not in:
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding
Low-rise multi-unit residential buildings
Individual homeowners living in a low-rise multi-unit residential building (MURB) must meet the additional eligibility criteria for MURBs.
Northern and off-grid communities
Canadians living in northern and off-grid communities face specific challenges when it comes to completing home retrofits, including higher equipment and labour costs. To help with this, all retrofit amounts have been adjusted to provide an additional 30% for northern and off-grid communities.
Additionally, homeowners living in northern and off-grid communities are eligible for replacements of existing fossil-fuel burning equipment. Further, homeowners living in a northern community are eligible for additional insulation measures (attic, ceiling, and exposed floor insulation).
You cannot apply for a loan for the following:
- work that has already been started or completed
- retrofits that were not recommended in your pre-retrofit evaluation
- retrofits that are not included in your application (that is, you must not add additional retrofits to your loan application after it has been approved)
- retrofits that are not eligible for a Canada Greener Homes Grant
Application Process
Eight steps to follow
Step 1
Contact Rénoclimat and schedule a pre-retrofit evaluation of your home
Before undertaking any work, call us at 1-866-266-0008 to register. You can also register by filling in the web application form. (Please note that the form is only available in French).
Step 2
Plan your retrofits and obtain quotes from contractors
Review your pre-retrofit evaluation and decide which retrofits work best for you. Make sure to plan all your work in advance before applying for the loan.
Make sure that the quotes clearly show the itemized cost of eligible retrofits. All quotes must be clear and legible and must:
- provide a detailed summary of the costs of the work to be completed
- identify any deposits required by the contractor
- include the name and contact details for the contractors completing the work
Only costs directly related to retrofits recommended in your pre-retrofit evaluation are eligible for the loan. The maximum eligible loan amount may be less than your quoted costs in which case you will be responsible for paying any difference.
Step 3
Submit your loan application before starting any work
To submit your loan application, you will require:
- Pre-retrofit evaluation file number
- Government issued photo identification (ID) with your address (for example, a driver’s license). If the photo ID does not show your address, you must also provide a utility bill that shows your current address
- Property tax bill or assessment
- Detailed quotes from contractors or a complete material and rental estimate from suppliers
- Proof of income and employment. Two of the following documents are required:
- Most recent pay stub(s) dated within 60 days
- Letter of employment dated within 60 days
- Bank statement(s) showing direct deposit for the most recent two-month period
- Most recent T4 or Notice of Assessment
Upfront costs
Once approved, up to 15%* of the loan can be delivered up front if a deposit is required by your contractor. The initial advance is only available for retrofits that require a deposit. The balance of the loan will be delivered once the retrofits have been completed and verified through a post-retrofit evaluation.
You can request the initial advance during your application by uploading the quotes from contractors and entering the deposit amounts required to do the retrofit.
*The initial advance is increased to 25% if your property is located in the North or off-grid.
Step 4
Complete your retrofits
Make sure to keep copies of all your receipts and invoices along the way.
Step 5
Get a post-retrofit evaluation
Once all planned retrofits are complete, contact your service organization to request a post-retrofit evaluation. An energy advisor will visit your home and provide you with a new report showing the impact of your retrofits.
Your service organization will upload the results of your post-retrofit evaluation confirming which retrofits have been completed. This can take up to 30 days.
Step 6
Request final loan advance
After your service organization submits the results of the post-retrofit evaluation, you must sign back into the loan application portal and choose “Request Funding”. You will be asked to upload all final invoices for the completed work.
The loan will be reviewed again based on the actual completed retrofits. If the final costs are higher than the initial estimate, the loan amount will not increase.
Step 7
Receive your loan amount
You will receive an email confirming the final loan amount after your funding request has been approved.
The final approved loan amount (less the initial advance if you received one) will be deposited into your bank account within approximately 10 days of funding request approval.
Step 8
Repay your loan over time
Shortly after your loan is funded, you will receive detailed information on the repayment of your loan over the 10-year period.
Important Reminder
Important reminder All information above is sourced from Canada Greener Homes Loan. We recommend that you thoroughly review the official requirements before commencing your loan application.
