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Michigan Saves home energy loans open
Administered by Michigan Saves, a nonprofit green bank, through partner credit unions and authorized contractors.
Michigan Saves arranges unsecured loans from $1,000 for heat pumps, furnaces, insulation, windows, water heaters, solar and more, through credit unions at rates from 6.24% for good credit, for up to 180 months. Owner-occupied homes of fewer than four units, cottages, rentals and manufactured homes qualify; the work is done by authorized contractors.
source · verified 2 October 2026 · amounts in US dollars
What it pays
| Lender | Amounts | Rates as low as | Term |
|---|---|---|---|
| Christian Financial Credit Union | $1,000 to $50,000 | 6.24% | Up to 180 months; all counties |
| Genisys Credit Union | $1,000 to $50,000 | 6.49% | Up to 180 months |
| LAFCU | $1,000 to $75,000 | 6.49% | Up to 180 months |
| TBA Credit Union | $1,000 to $60,000 | 6.49% | Up to 180 months |
| TRUE Community Credit Union | $1,000 to $75,000 | 6.49% | Up to 180 months |
| One Detroit Credit Union | $1,000 to $30,000 | 6.75% | Up to 120 months; Macomb, Oakland, Washtenaw, Wayne |
| Lake Michigan Credit Union | $1,000 to $40,000 | 6.99% | Up to 180 months; Lower Peninsula |
| MSU Federal Credit Union | $1,000 to $100,000 | Through its contractor network | Up to 180 months |
Michigan Saves says loan terms are one year for every $1,000 up to $4,999, and up to ten years or more from $5,000; there are no annual or early repayment fees. Actual rates depend on the lender and your credit.
Who is eligible
- homes
- Owner-occupied single-family homes of fewer than four attached units; cottages, second homes and rentals if the owner applies; manufactured homes you own, even on a rented lot.
- income
- No income limit; you state your gross income and the lender may ask for proof.
- what
- More than 150 improvements: HVAC and heat pumps, insulation, air sealing, windows, water heaters, appliances, solar, batteries, EV chargers and lead, mold, radon or asbestos remediation.
What disqualifies you
The rules people find out about after the work is done.
- Occupants buying on a land contract.
- Work by a contractor not authorized by Michigan Saves.
Where the application goes
Choose an authorized contractor, then apply through Michigan Saves' loan center or the lender.
| If this is you | Apply here |
|---|---|
| Lenders and rates | michigansaves.org |
The thing most pages get wrong
These are not low-interest public loans. The published rates are 'as low as' figures for good credit, between 6.24% and 6.99% depending on the credit union, and Michigan Saves says the lenders also consider lower credit scores at higher rates. Compare the offer with a utility's own on-bill or rebate programs before signing.
A rebate first, then the loan
Utility rebates from DTE, Consumers Energy or a city utility, and MiHER's rebates where a district is open, reduce what needs borrowing. Michigan Saves finances the remainder through the same authorized contractors.
Where the money comes from
Michigan Saves negotiates the terms and runs the contractor network; the loans are personal unsecured loans from the credit unions, so the credit union, not Michigan Saves, is the lender.
Sources
- https://michigansaves.org/home-energy-improvements/ — primary source, read 2 October 2026