There are so many benefits to renovating your home, not just being able to appreciate its beauty and comfort. Many of the renovations you may be considering will also improve the efficiency of your home. That means enjoying savings on your utility bills. Renovating your home will also increase your resale value; Remodelling Magazine shows us that home renovations see about 48%-101% return on investment.  

In this article, we’re taking a look at some of the best financing options available to Winnipeg homeowners. We’ll also discuss the advantages of financing your home upgrades. 


Even though improvements to your home’s energy efficiency will lower your monthly utility payments, Hydro Manitoba still wants you to make these upgrades. They offer a Home Energy Efficiency Loan that allows you to pay them back with a low monthly payment added to your energy bill. They do not require a downpayment, and the loan can be used for a number of upgrades, including:

  • Windows and doors
  • Insulated vinyl siding
  • Residential space heating equipment
  • Geothermal and cold climate air source heat pumps (perfect for our Winnipeg winters) 
  • Insulation
  • Air leakage sealing
  • Ventilation
  • Residential water heating equipment
  • Electric vehicle chargers
  • Solar photovoltaic systems

That’s quite the list of upgrades available… of course, you don’t need to make all those improvements, just a few will greatly impact your comfort in your home as well as your utility bill.

To be eligible for the loan you must be the homeowner and have an account in good standing with Manitoba Hydro. You can learn more about the program here.

Nisby has partnered with FinanceIt, to offer our customers fast and easy financing for their upgrades. We recommend FinanceIt because of their lower interest rates of 8.99% to 12.99%, much lower than credit cards. Their longer amortization periods are usually appreciated as well; up to 180 months (15 years). If you don’t need that much time and are able to pay off your loan sooner than expected, FinanceIt doesn’t charge penalties for that. Those are some great reasons to consider FinanceIt, but knowing that they can approve you for a loan up to $100,000 in just seconds is icing on the cake.

Home equity loans are somewhat comparable to a mortgage. With most of these loans you can expect:

  • To make a downpayment or a lump sum payment when the loan is signed.
  • You’ll have a fixed payback period (selected by you, to fit your budget).
  • The interest rate will also be fixed for the duration of the loan.
  • Interest begins accruing as soon as the loan is funded.
  • The loan will be secured by your home. 

Lower interest rates are one of the benefits of securing a home equity loan. The payback period will fit your budget and schedule. Plus, you may be able to deduct the interest on your taxes. 


Rebates from provincial and federal governments are always coming and going. Keeping up to date with their offers is a good idea – as soon as you start considering upgrades. Organizations like the CHMC and Energy Star also offer grants and refunds. 

The CMHC Green Home offers a refund of up to 25% on eligible upgrades. Energy Star has several programs for Winnipeg homeowners including a ground source heat pump program, a pool pump program, and the Save More program that provides rebates on Energy Star products such as smart thermostats, fridges, dishwashers, and laundry machines. They also have programs available for small businesses. 

Efficiency Manitoba is a crown corporation dedicated to conserving energy. They offer Manitobans ways to save energy and reduce your energy bills. Programs are available for appliances, insulation, advanced HRV controls, and more.  

Natural Resources Canada is also currently offering almost two dozen loan and rebate programs in Manitoba, including a home insulation rebate and a New Homes Program.