Last Updated July 21, 2022
Program Overview
Category:
Financial Incentive
State:
Michigan
Incentive Type:
Loan Program
Administrator:
Michigan Saves
Start Date:
N/A
Expiration Date:
N/A
Applicable Sectors:
Residential
Eligible Renewable/Other Technologies:
Windows
Summary
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 and households reduce costs by financing air sealing, heating and cooling systems, insulation, appliances, and more. Homeowners make the upgrades with the help of authorized contractors through an authorized lending partner.
Homeowners are eligible for rates ranging from 4.44% to 7.90% APR, though most customers finance at 5.50% APR. Terms are available up to 15 years with loan amounts ranging from $1,000 to $50,000. Actual rates, terms, and loan amounts vary and depend on the lender you choose and your creditworthiness.