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Multifamily Energy Retrofit Loan Program
Montana — state programMinimum loan amount: $100,000; Maximum loan amount: $1,000,000; 2026 interest rate: 2 percent, fixed for the term of the loan, 2.055% APR; Maximum loan term: 15 years; $0 down payment; no early-payment penalty; Closing costs include origination fee of $3,000; and other fees of approximately $200
The MERL Program provides low-interest loans to existing multifamily affordable housing facilities for energy efficiency improvements such as air sealing, insulation, windows, and efficient heating and cooling systems. All measures must be recommended via a qualifying energy audit and must be life cycle cost effective. The program aims to lower energy costs, improve comfort, and reduce energy intensity of multifamily housing facilities.
Program details
- Type
- loan
- Amount
- Minimum loan amount: $100,000; Maximum loan amount: $1,000,000; 2026 interest rate: 2 percent, fixed for the term of the loan, 2.055% APR; Maximum loan term: 15 years; $0 down payment; no early-payment penalty; Closing costs include origination fee of $3,000; and other fees of approximately $200
- Status
- open
- Administrator
- Montana Department of Environmental Quality (DEQ)
Source: Montana — state program. Confirm current terms with the administering agency before applying.