Definition
Several government programs help homeowners finance renovations, particularly energy-efficiency renovations:
**Federal — CMHC Eco+ Mortgage Loan Insurance**: 25% refund on CMHC insurance premium for properties meeting energy efficiency standards (NRCan score 80+). Accessible at purchase (with premium) or refinancing for energy-efficiency renovations.
**Quebec — Rénoclimat Program (Transition énergétique Québec)**: grants and low-rate loans for energy-efficiency renovations (insulation, windows, heat pumps, heating systems). The homeowner must have their home evaluated before and after by an accredited advisor.
**Federal — Canada Greener Homes Loan**: interest-free loan of up to $40,000 for major energy-efficiency renovations (solar panels, insulation, heat pump).
**Renovation refinancing**: beyond government programs, a homeowner can refinance their mortgage to finance major renovations, up to 80% of post-renovation value (with appraisal). CMHC allows insured refinancing for renovations up to 95% in certain cases.