Canada Greener Homes Loan in Toronto

  • February 22, 2021

The Canada Greener Homes Initiative encourages homeowners to make energy-efficient heat pump upgrades to their homes, and part of the initiative is the Canada Greener Homes Loan. The interest-free loan offers financing to help with eligible retrofits that are recommended by an energy advisor.

Loan Details

Maximum: $40,000

Minimum: $5,000

Repayment term: 10 years, interest-free

Loan type: Unsecured personal loan on approved credit

A maximum of one loan is available per eligible property and homeowner.

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Steps to Apply for a Canada Greener Homes Loan

1. Initiating Your Application with Hoerner

Before you submit your loan application, it’s a good idea to reach out to a service organization or contractors. You’ll be able to obtain quotes and they’ll help you decide which retrofits work best for you. 

Start your journey by reaching out to Hoerner; we are a certified service provider well-versed in navigating the Canada Greener Homes Grant initiative. The experts at Hoerner will guide you through the application process, ensuring a seamless experience.

2. Conducting a Pre-Retrofit Evaluation

Once registered, schedule a pre-retrofit EnerGuide evaluation with an energy advisor. The energy advisor is registered with Natural Resources Canada and will assess your home’s current energy efficiency. This evaluation is a crucial step to determine the baseline and identify potential upgrades that align with the Canada Greener Homes Loan requirements.

3. Strategizing Retrofits With Hoerner

Collaborate with Hoerner to develop a retrofit plan tailored to your home’s unique characteristics and your energy efficiency goals. This strategic approach ensures that the upgrades you choose will make the most significant impact on your home’s environmental performance.

In order to be eligible for the Canada Greener Homes Loan, you must obtain quotes for each of the retrofits in your plan. These quotes 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

4. Submitting Your Loan Application

Before any work begins, you must submit your loan application. To submit your application, you’ll need:

  • Pre-retrofit evaluation file number
  • Photo ID
  • Property tax statement or assessment
  • Detailed quotes from your contractor/service provider
  • Proof of income and employment

5. Executing Retrofits with Hoerner

Upon approval of your loan application, Hoerner will work to implement the planned retrofits. Be sure to keep any receipts and invoices along the way.

6. Undertaking a Post-Retrofit Evaluation

After the retrofits are completed, schedule a post-retrofit EnerGuide evaluation. This step is crucial to assess the effectiveness of the upgrades and confirm that they meet the required energy efficiency standards. The post-retrofit evaluation is a key component of the loan application process.

An energy advisor will visit your home and provide you with a new report that shows the impact of your retrofits. Hoerner will submit the results of the post-retrofit EnerGuide evaluation confirming which retrofits have been completed.

7. Receiving and Repaying Your Loan

Once the post-retrofit evaluation is successfully submitted, you’ll sign back into the loan application portal and Request Funding. Your uploaded invoices will be used in the review process, and you will receive an email confirming the final loan payment amount after approval. 

Shortly after your loan is funded, you will get detailed information on the repayment of your loan over the 10-year period.

Are You Eligible For The Greener Homes Loan?

To be eligible for the Canada Greener Homes program, you must meet the following criteria:

Residency and Ownership:

  • You must be a Canadian homeowner
  • Proof of ownership and residency is required

Home Type:

  • The grant is applicable to various types of homes, including single-family homes, semi-detached homes, row townhouses, and low-rise multi-unit residential buildings (up to three stories)
  • The home must be your primary residence

Participation in EnerGuide Evaluation:

  • You must complete an EnerGuide home evaluation before and after the retrofit process. This evaluation assesses your home’s energy efficiency and provides recommendations for improvements

Grant vs. Loan – What’s the Difference?

While the Canada Greener Homes Grant provides direct financial support, the Canada Greener Homes Loan complements the grant by offering additional financing for retrofit measures beyond the grant coverage. 

The grant is a direct contribution, while the loan allows homeowners to implement more extensive upgrades, creating a holistic approach to green home transformations. Unlike the grant, the Canada Greener Homes Loan must be paid back.

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