Home Energy Loan Program

Michigan Saves believes comfortable homes and low energy costs should go hand in hand. That’s why we created the Home Energy Loan Program, one of the most powerful tools in the country, designed to help you take control of your energy costs. With available financing up to $30,000 over ten years at standard rates as low 4.25% APR, there’s never been a better time to join thousands of Michigan families by making easy, affordable, smart choices to make your house an efficient home.

What is Michigan Saves financing?

Michigan Saves financing is financial capital made available to customers through a network of lenders that offer favorable terms based on a negotiated contract. This program helps Michigan families reduce costs by financing air sealing, heating and cooling systems, insulation, appliances, and more. Homeowners make the upgrades with the help of our authorized contractors and we provide affordable financing up to $30,000 through an authorized lending partner.

What finance rates and terms are available?

All homeowners are eligible for rates ranging from 4.25% to 7% APR, though most customers finance at 4.99% APR. Actual rates are dependent on the lender you choose and your creditworthiness. Terms are available up to ten years with loan amounts accessible from $1,000 to $30,000.

What can I use the financing for?

Most energy improvements can be financed, including renewable energy sources, but a full list of eligible improvements is available here. The most common residential improvements include insulation, air sealing, furnace or boiler replacement, windows, energy-efficient roofs, and appliances. Non-energy related improvements can be included in the financing if the improvement is necessary to complete an energy project.