Canada Greener Homes Initiative: Up to $40k Interest Free

This one we can personally vouch for - one of our Boyle team members accessed this and was able to obtain nearly $20,000 in interest free money termed out over 10 years.

What did this mean to him... well, sure we gave him a deal on the HVAC side of things, but he added new windows to leverage the efficiency of his new heating and cooling system. It's a great program - and we know first-hand that it works!

Details are summarized below, contact us for more info or click below to start the application process!

https://www.cghli.ca/home  

The loan program offers an unsecured personal loan with a maximum amount of $40,000 and a minimum of $5,000, available with a 10-year repayment term and no interest. This loan is based on approved credit, and only one loan is permitted per eligible property and homeowner. The loan amount is determined by the selected retrofits and their associated quotes, with a cap based on industry standards. If the maximum eligible loan amount is less than your quoted retrofit costs, you must cover the difference yourself.

Once approved, part of the loan can be disbursed upfront to cover contractor deposits, with the remaining balance provided after the retrofits are completed and verified. However, you cannot apply for a loan for work that has already started or been completed, retrofits not recommended in your pre-retrofit evaluation, or additional retrofits not included in the original application.

Eligibility criteria include being a Canadian citizen or legally authorized resident who owns and occupies the home, having a good credit history, and having a completed pre-retrofit evaluation since April 1, 2020. For Indigenous groups, the loan can be applied to multiple homes and does not require the home to be the primary residence, but it must be occupied by an Indigenous household. Northern and off-grid community residents are eligible for increased loan amounts and additional support for equipment replacements and insulation.

To apply, you must complete a pre-retrofit evaluation, plan your retrofits, and obtain quotes from contractors. Retrofits should not begin until after the loan application is submitted. For DIY retrofits, only material costs are eligible, and all products must be purchased from Canadian vendors. Your application needs to include identification, proof of home ownership, detailed quotes, and proof of income. Ensure that all application information is accurate and complete to avoid delays.

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