Residential Contractor Requirements | Michigan Saves

Residential Financing for Contractors

Through our residential program, tens of thousands of Michigan homeowners have been able to make clean energy improvements that support their well-being and save them energy and money.

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So, how do we make it work?

We offer eligible homeowners unsecured, personal loans for prequalified energy measures or improvements recommended by a whole-home energy assessment. We do this by partnering with authorized residential lenders to offer competitive, low-interest financing up to $50,000. Homeowners are eligible for below-market interest rates with flexible terms up to ten to 15 years with no penalty for early repayment. Actual rates, terms, and loan amounts depend on the selected lender and the borrower’s creditworthiness.

The only cost to you is a low fee assessed on any loan, which is less than what you would pay if your customers used credit cards or other forms of financing. Michigan Saves makes this process easy.

Residential Loan Process

1

Provide your estimate to the customer

2

Instruct the customer to contact our loan application center online or by phone at 877-867-8522

Phone hours:

  • Monday–Thursday: 8:30 AM–11:00 PM
  • Friday: 8:30 AM–9:00 PM
  • Saturday: 9:00 AM–5:30 PM
  • Sunday: Closed

3

Schedule and install the project after lender approval

4

Log in to your NGEN account and fill out a quick project closeout

Participating Residential Lenders and Offerings

Free Star Financial Genisys CU lafcu Lake MichiganCU MSU FCU Washtenaw CU Dort Financial

What county do you live in?

How much do you want to borrow?

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.

Calculate Rate

Amounts Fixed Rate Terms (months)
$1,000—$30,000 4.49%—5.49% APR Up to 120
Genesee, Lapeer, Leelanau, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, Wayne
Amounts Fixed Rate Terms (months)
$1,000—$50,000 4.44%—7.00% APR Up to 180
All Michigan Counties
Amounts Fixed Rate Terms (months)
$1,000—$40,000 5.49%—7.00% APR Up to 120
Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm, Shiawassee

*All Michigan Saves authorized lenders offer programs for “good” credit and above. These lenders consider lower credit scores.
**Actual rates, terms, and loan amounts vary and depend on market conditions, the lender you choose, and your creditworthiness.