Toronto Home Loan start from 3.14% up t0 $125000/5-20 years
Toronto Home Energy Loan Program
https://thehomeinspectorsgroup.com/toronto-home-energy-loan-program-2/
Making a home more energy efficient is one of the most substantial actions homeowners can take to reduce the emissions contributing to climate change. Through the Home Energy Loan Program (HELP), Toronto homeowners can borrow up to $125,000 to cover the cost of home energy improvements, such as:
- Air-source heat pumps
- Window/door replacements
- Insulation: basement/attic/exterior wall
- Air sealing (e.g. weather stripping or caulking)
- Geothermal systems
- High-efficiency water heaters
- High-efficiency furnaces/boilers/air conditioners
- Tankless water heaters
- Drain-water heat recovery systems
- Toilet replacements
- Solar hot water systems
- Rooftop solar PV panels
- Electric vehicle charging stations (Level 2)
- Battery storage
HELP makes it easy and affordable for homeowners to pay for home improvements over time and access rebates offered by utility companies and the Federal government. Once funding is approved, homeowners can hire the contractor of their choice and complete their renovations.
| Terms | Fixed Interest Rate |
|---|---|
| 5 years | 3.14% |
| 10 years | 3.90% |
| 15 years | 4.35% |
| 20 years** | 4.54% |
- An administrative charge of two percent (2 per cent), which reflects the City’s cost of administering the program, will be added.
- The loan’s value, which will include the funding amount, interest, and an administrative charge, cannot exceed 10 percent of the current value assessment (CVA) for your property or $125,000, whichever is less.
- Interest rates are fixed and will not fluctuate over the term.
- Homeowners will repay the loan via their property tax bill and can pay it off anytime.
https://www.toronto.ca/services-payments/water-environment/environmental-grants-incentives/home-energy-loan-program-help/