All across the state, homeowners have realized greater health and safety protections, energy and money savings, and improved comfort through Michigan Saves’ Home Energy Loan Program.
We offer eligible homeowners unsecured, personal loans for prequalified energy measures or improvements recommended by a whole-home energy assessment. We partner with the authorized residential lenders listed in the table below to offer competitive, low-interest financing up to $40,000. Homeowners are eligible for interest rates ranging from 4.25% to 7% APR, though most customers finance at 5.50% APR. Flexible terms up to twelve years are available with no penalty for early repayment. Actual rates, terms, and loans amounts are dependent on the lender selected and the borrower’s creditworthiness.
The only cost to you is a 1.99% fee assessed on any loan, which is less than what you would pay if your customers used credit cards or other forms of financing.