How Better Homes Peterborough works
OpenBetter Homes Peterborough helps city homeowners and landlords plan and pay for energy retrofits such as air sealing, insulation, windows, doors, heat pumps and solar. You can finance the work with a City local improvement charge loan of $10,000 to $50,000 at 4.50% fixed over 15 years, repaid on your tax bill, or with a five-year Kawartha Credit Union loan of up to $50,000 at a variable rate (4.95% for those who qualify). Non-energy work can be financed up to 30% of the cost of the energy upgrades.
- What it pays
- Up to $50,000 · Loan
- City local improvement charge loan$10,000 to $50,000 at 4.50% fixed, 15 years
- Kawartha Credit Union loanUp to $50,000 at 4.95% variable, 5 years
- Performance incentive (first 26 applicants)$1,500 (30-59% reduction) or $3,600 (60% or more)
- Performance incentive (standard)$1,000 (30-59% reduction) or $2,000 (60% or more)
- EnerGuide assessment rebate$600
- Who qualifies
- Detached, semi-detached, townhouse or multi-unit building (up to 3 storeys) in the City of Peterborough with a City property tax account.
- Owner-occupied or rental; all owners must agree. No income test.
- Taxes and City accounts in good standing for 5 years, or a credit score of at least 600 for newer owners. Not in CMHC's mortgage deferral or the City's tax deferral program.
- Up to $50,000 per property in total, across up to two applications.
- Steps, in order
- Complete the application form at betterhomesptbo.ca (City review takes about 10 business days), or call 1-888-284-9417.
- After the introduction call and Notice to Proceed, book a pre-retrofit EnerGuide assessment and an energy coaching session.
- Submit a funding request with contractor quotes and choose the City loan or the Kawartha Credit Union loan.
- Complete the work (only costs after you sign the program agreement count), then book the post-retrofit assessment and submit the Project Completion Report.
- Energy assessment
- Yes, before work starts
- Run by
- City of Peterborough (with EnviroCentre and Kawartha Credit Union)