Canada’s New Greener Homes Loan Program Encourages Deep Renovations

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The federal government has announced a new interest-free loan program to help homeowners and affordable housing providers with major renovations.

The Canada Loan for Greener Homes is designed to help up to 175,000 eligible homeowners undertake deeper, more expensive renovations that will have a significant impact on reducing a home’s environmental footprint and energy bills and improving the house resilience. Interest-free loans of up to $40,000 will be available per household.

The first phase, starting June 17, 2022, will be open to eligible homeowners who are applying or have an open application (pre-renovation stage) for the Canada Greener Homes Grant. The second phase, which will begin in early September 2022, will expand eligibility to homeowners who have closed their application (those who have applied for their post-renovation assessment or grant), but still have qualifying renovations they wish to pursue, who haven’t started yet.

Click here for more details on eligibility and how to apply for the Canada Greener Homes Loan.

The Canada Greener Homes Loan is part of the Canada Greener Homes Initiative. The program builds on the Canadian Greener Homes Grant offered by Natural Resources Canada (NRCan) to help Canadian homeowners across Canada improve the energy efficiency of their homes.

canada.ca

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