Home Energy Loan Program (HELP)
City of Toronto
Get a low interest loan of up to $75,000
to cover the cost of home energy improvements such as:
- High-efficiency furnaces / boilers / air conditioners
- Air source heat pumps
- Window / door replacements
- Basement/attic/exterior wall insulation
- Air sealing (e.g. weather stripping or caulking)
- Geothermal systems
- High-efficiency water heaters
- 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
With low fixed interest rates, and terms of up to 20-years amortization on qualifying measures*, HELP makes it easy and affordable for homeowners to pay for these home improvements over time, and access rebates offered by utility companies. Once funding is approved, homeowners can hire the contractor of their choice and complete their renovations.
*Projects that include any of the following measures, solar, windows, geothermal and/or heat pumps are eligible for a 20-year term.
The HELP Advantage
- HELP allows you to avoid the large upfront cost of home energy improvements and pay for them over time.
- HELP financing is attached to the property, not to the property owner. If you sell the property before the loan is repaid, the new owner will assume the balance of the loan and continue to repay it through the property tax bill.
- You may pay off your HELP loan at any time, without penalty.
- You benefit from low interest rates and longer repayment terms, compared to conventional financing.
Even more help is available
Combine a HELP loan with an energy-saving incentive program and get money back for your home energy upgrades
ELIGIBILITY
You may qualify for a low-interest loan through HELP if:
- you own a detached, semi-detached, or row house;
- all of the property owners on title consent to participate in the program;
- your property tax and utility payments to the City are in good standing; and
- you obtain written consent from your mortgage lender, if applicable*.
*If your property is subject to a mortgage, you will be sent a customized Lender Consent Form.
6 STEPS TO HOME ENERGY SAVINGS
Submit your Application
Download and submit your application to the City of Toronto. They will confirm your eligibility and send you a funding offer that states the maximum amount that your property is eligible to receive. If your home is subject to a mortgage, They will provide a letter and form for you to give to your mortgage lender. Your mortgage lender's consent is required before the City can send you a funding offer.
Book an EnerGuide Home Energy Evaluation
If you have received your funding offer from the City of Toronto and are ready to get started:
Book your home energy evaluation
When the evaluation is complete, you will receive:
- A Renovation Upgrade Report with recommendations for specific improvements
- An EnerGuide rating based on your home's current energy performance
- information on available incentives and rebates
Submit your Funding Request
Determine which improvements you wish to make and get quotes from the contractor(s) of your choice, based on your goals, budget and recommendations of the Energy Advisor. Be sure to check what incentive programs may currently be available to you
Your funding request will include:
- A list of the improvements you intend to undertake
- Details and cost estimates based on contractor quote(s)
- The estimated incentive and rebate amounts available to you.
Sign and return your Property Owner Agreement
Once the City has approved your Funding Request, we will send you a Property Owner Agreement (POA), which is the funding agreement between the property owner(s) and the City.
You must sign the POA and return to the City. Once the POA is approved by the City, they can provide, if requested, up to 30 per cent of the funds to help you get your project underway.
Complete your energy saving upgrades
Homeowners assume full responsibility for the work performed, which includes selecting, hiring and paying contractors, and obtaining all required municipal and/or provincial permits, if applicable.
When your project is complete, book your post-retrofit home energy evaluation with your Energy Advisor. The Advisor will verify the improvements and provide a new EnerGuide Rating for your home.
Submit a Project Completion Report, signed by your Energy Advisor, along with your contractor's invoices and your new EnerGuide rating label. The City will then provide you with the remaining funds for your project.
Repay the loan over time via your property tax bill
Once your project is complete, the City will notify you when your loan payments will begin. You will be enrolled in the City's Pre-authorized Tax Payment plan and repay the City via eleven monthly installments per year over the term of your loan. Loan payments made via the property tax bill are treated in the same manner, and subject to the same penalties, remedies and lien priorities, as property taxes.
At any time during the term of the loan, you may pay the outstanding balance, without penalty, to clear the loan from your property.
If you have any questions, call us toll free at:
1.866.280.4431
or
or
email us at:
energy@windfallcentre.ca
TERMS and RATES
the Toronto HELP program offers low-interest rates and flexible terms to fit your budget. Interest rates are fixed and will not fluctuate over the term.
The following rates and terms are valid until December 31, 2019.
| Terms | Fixed Interest Rate |
|---|---|
| 5 years | 3.7% |
| 10 years | 4.1% |
| 15 years | 4.3% |
| 20 years** | 4.4% |
- An administrative charge of two per cent (2 per cent), which reflects the City's cost of administering the program will be added.
- The value of the loan, which will include the funding amount, interest, and an administrative charge, cannot exceed 10 per cent of the current value assessment (CVA) for your property, or $75,000, whichever is less.
- Homeowners will repay the loan via their property tax bill and can pay off the loan at any time without penalty.
Affordability table
This chart estimates the monthly payments, based on specific funding amounts.
| Estimated Monthly Payment (11 per year) | ||||
|---|---|---|---|---|
| Funding Amount | 5 years | 10 years | 15 years | 20 years** |
| $5,000 | $91 | $46 | $31 | $24 |
| $10,000 | $182 | $91 | $61 | $45 |
| $15,000 | $272 | $137 | $91 | $68 |
| $20,000 | $364 | $182 | $122 | $90 |
| $25,000 | $455 | $227 | $151 | $114 |
| $30,000 | $570 | $315 | $235 | $136 |
| $35,000 | $637 | $319 | $213 | $159 |
| $40,000 | $728 | $364 | $340 | $182 |
| $45,000 | $818 | $410 | $273 | $204 |
| $50,000 | $910 | $455 | $304 | $227 |
| $55,000 | $1,000 | $500 | $334 | $250 |
| $60,000 | $1,091 | $546 | $364 | $273 |
| $65,000 | $1,182 | $591 | $394 | $295 |
| $70,000 | $1,273 | $637 | $424 | $318 |
| $75,000 | $1,364 | $682 | $455 | $341 |
** 20-year amortization is only available for projects that include solar PV, geothermal installation, new windows and/or heat pumps.
