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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 or the useful life of the measures, whichever comes first; $0 down payment; no early-payment penalty; Closing costs include originati
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. Funds are disbursed on a reimbursement basis as project milestones are completed.
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 or the useful life of the measures, whichever comes first; $0 down payment; no early-payment penalty; Closing costs include originati
- Eligibility
- A business, public entity, non-profit, or individual that owns or operates an affordable multifamily housing facility. Multifamily means a property with four or more units intended for residential use. The facility must be designated as, or the occupants must be recipients of at least one of: Housing Choice Voucher Program (Section 8), Public Housing, Low-Income Housing Tax Credit (LIHTC), HOME Investment Partnerships Program, National Housing Trust Fund, 50% or more occupants participate in LIHEAP or Weatherization Assistance Program, 50% or more occupants receive SNAP, TANF, or SSI benefits,
- Status
- open
- Administrator
- Montana Department of Environmental Quality (DEQ)
Source: Montana — state program. Confirm current terms with the administering agency before applying.