THE BETTER HOMES LOAN program will make it easier and more affordable for homeowners to pay for home improvements over time as they save on their energy bills. Through the proposed Better Homes Loan program, Ottawa homeowners could get a low-interest loan of up to 10% of the current value of their home to cover the cost of home energy improvements. The loan would be tied to the property instead of the owner. This means that if the home is sold before the loan is repaid, the new owner will assume the balance of the loan.
Measures eligible for financing under the proposed Better Homes Loan Program include:
Thermal envelope upgrades
Renewable energy, energy storage and electric vehicle chargers:
Health and safety measures:
Climate adaptation improvements
Additional dwellings(Rental apartments up to 30% of loan value)
Other related costs such as Administrative costs