Residential Financing

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.

Our residential loan process is easy. Simply:

  1. Provide your estimate to the customer
  2. Contact our loan application center with the customer; open 24/7 online or via phone at 877-867-8522
  3. Execute the project after approval
  4. Log in to your account and fill out a quick closeout and project summary


The lender will then close the loan with the customer and pay you directly for the work!

Available Rates, Terms, Loan Amounts, and Lenders

Select the county where you live (primary residence), work, or worship.

Oakland Wayne Lapeer St. Clair Sanilac Tuscola Huron Genesee Eaton Barry Allegan Van Buren Calhoun St. Joseph Berrien Cass Branch Hillsdale Lenawee Monroe Washtenaw Jackson Clinton Ionia Kent Saginaw Montcalm Gratiot Muskegon Bay Midland Isabella Mecosta Newaygo Ottawa Chippewa Luce Schoolcraft Ingham Delta Alger Menom- inee Marquette Iron Gogebic Ontonagon Baraga Houghton Oceana Mason Lake Osceola Clare Gladwin Arenac Iosco Wexford Benzie Grand Traverse Crawford Oscoda Alcona Alpena Mont- morency Otsego Antrim Leelanau Presque Isle Emmet Charlevoix Kalama- zoo Ogemaw Kalkaska Shiaw- assee Roscommon Missawkee Manistee Dickin- son Keweenaw Mackinac Macomb Cheboygan Living- ston

Available Lenders and Offerings

Loan terms are one year for every $1,000 up to $4,999. For loans $5,000 and higher, customer may select term up to ten
years (or higher if applicable). There are no annual or early repayment fees.

Lender FICO Credit Score Minimum Maximum Fixed Rate Terms (months) Counties Served
FreeStar Financial Credit Union + 640+ $1,000 $4,999 4.99% APR 60 Genesee, Lapeer, Leelanau, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, Wayne
640-719 $5,000 $30,000 5.49% APR 120
720+ $5,000 $30,000 4.49% APR 120
Genisys Credit Union + 600-639 $1,000 $7,500 7.00% APR 120 All Michigan Counties
640-719 $1,000 $30,000 5.44% APR 120
720+ $1,000 $40,000 4.44% APR 120
720+ $15,000 $40,000 5.20% APR 180
LAFCU + 600-639 $1,000 $7,500 7.00% APR 60 Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm, Shiawassee
640+ $1,000 $30,000 5.49% APR 120
Lake Michigan Credit Union + 640+ $1,000 $30,000 5.49% APR 120 All Lower Peninsula Counties
720+ $1,000 $40,000 4.49% APR 120
720+ $15,000 $40,000 5.25% APR 180
MSU Federal Credit Union* + 600-639 $1,000 $7,500 7.90% APR 120

Entire lower peninsula for MSUFCU preferred contractor network

640+ $1,000 $50,000 4.90% APR 120
640+ $30,000 $50,000 5.90% APR 180
Washtenaw Federal Credit Union + 640-699 $1,000 $30,000 4.99% APR 120 Washtenaw
640-699 $30,001 $40,000 5.24% APR 180
700+ $1,000 $30,000 4.25% APR 120
700+ $30,001 $40,000 4.50% APR 180

*Lender does not participate in the centralized loan
center. Please contact your contractor
to apply.

Brad Bartholomew and team

“Working with Michigan Saves has been an incredible experience. Their stellar customer service is always there for us, and their amazing financing options have really helped our business financially. It’s not only easy and convenient to use, but it is extremely satisfying helping folks find solutions to their energy needs while helping them save money and the environment.”

Brad Bartholomew
Bartholomew Heating & Cooling