Michigan Saves Residential Financing
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Loan application
Apply online at michigansaves.org/loancenter
Michigan Saves Contractor ID# 204350
Please select the lender of your choice.
Loan decision in minutes
Approved: An approval email is sent to the homeowner. Work with the lender to complete membership and loan documents. Work can begin once the lender receives the completed documents.
Declined: Add a co-borrower or choose another method of payment.
Pending review: The lender needs additional information and will contact you directly.
Certificate of completion
Once the job is completed to your satisfaction, sign the certificate of completion. This releases the project funds to your contractor.
Residential
financing facts
Loan type
Unsecured, personal loan
Eligible improvements
Measures prequalified by Michigan Saves, or those recommended by a whole-home energy assessment
Amounts
$1,000 up to $75,000
Terms
Flexible between one and 15 years. The 15-year term requires at least $15,000 financed.
Rates
Fixed. See this month’s rate sheet below, or ask us for current rates.*
Who’s eligible?
Owners of most primary and secondary residences
*Rates and further details also available at michigansaves.org
What your monthly payment could look like
Rates effective September 1–30, 2026| Amount financed | 10-year term | 15-year term |
|---|---|---|
| $5,000 | about $56/mo | Not available |
| $7,500 | about $84/mo | Not available |
| $10,000 | about $111/mo | Not available |
| $15,000 | about $167/mo | about $133/mo |
| $20,000 | about $222/mo | about $177/mo |
Estimates only, for qualified buyers on approved credit. Based on the lowest rates on the Michigan Saves residential rate sheet effective September 1–30, 2026, each of which requires top-tier credit: 5.99% APR over 120 months and 6.74% APR over 180 months. Every lender on the current sheet requires at least $15,000 financed for a 15-year term, so it is not an option on smaller projects. Your actual rate, term and payment depend on the lender you select, your credit, and the amount financed — rates on the current sheet range from 5.99% to 7.75% APR. Loans under $5,000 are limited to one year of term per $1,000 financed, so shorter-term payments will be higher. Financing available from $1,000 up to $75,000. Lender availability varies by county. There are no annual or early repayment fees. Rates change monthly — ask us for the current sheet. Wade’s Heating & Cooling is a Michigan Saves authorized contractor, not a lender, and does not make credit decisions.
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