Home Energy Loan Program Highlights

Already authorized? Explore links in the box to the left.

Why should you become an authorized contractor? 

Affordable rates and terms:

  • Personal unsecured loans of $1,000 to $20,000 at fixed APR not to exceed 7%
  • Extended loan terms of one year per $1,000 up to $4,999; customer can pick term up to 10 years for loans $5,000 and higher (e.g., sample monthly payment for 3-year, $3,000 loan at 7% APR is $92.63; a 7-year, $6,000 loan at 7% APR is $90.56)

Easy process:

  • No home equity required (unsecured loans)
  • Web and phone-based loan application system with quick decisions (within minutes) to facilitate "dinner table" sales

Eligibility:

  • Available for owner-occupied, single-family (1–4 unit) homes (primary residence only)
  • Qualifying energy efficiency improvements must be recommended by a comprehensive, whole-home energy assessment conducted by a certified auditor, or selected from the Eligible Measures List, a list of improvements pre-qualified by Michigan Saves.

Michigan Saves will assess a 1.99 percent per-loan fee to support quality assurance and sustain program operations.

Click here to download information regarding program highlights.

Contractor Enrollment Open

Michigan Saves is enrolling energy auditors and installation contractors for the Michigan Saves Home Energy Loan Program, which makes energy improvements easy and affordable. Training sessions will be held online.  Get started now!   

Who: Installation contractors and energy auditors.  Whether or not you have one of the third-party certificates we recognize, you can participate in Michigan Saves.

What: Contractor enrollment and training for Michigan Saves Home Energy Loan Program. 

When: Contractor enrollment is now open on a rolling basis for all Michigan-based contractors. After application is approved, contractors must attend a half-day training session, conducted online generally on the 4th Friday of each month (check schedule to confirm). 

Where:  The Michigan Saves Home Energy Loan Program is now available in all counties in the state of Michigan.

Questions? Contact Todd Parker with Michigan Saves at (517) 484-6474 or send an e-mail to registration@michigansaves.org.