Financing, on approved credit
Renovation financing for Edmonton homeowners
Spread a renovation over monthly payments for up to 48 months. Rates run from 0% to 9.99% through iFinance Canada, on approved credit.
Call (587) 327-0144- Rates from, on approved credit
- 0%
- Longest repayment term
- 48 months
- Most you can borrow
- $50,000
What would my payment be?
Set the amount and the term, then try a few rates. It opens at 9.99%, the top of the range.
How do I apply?
Get a free written quote
Book a site visit. Your fixed price follows within 48 hours of the visit.
Apply with iFinance
Apply online, and iFinance sends its decision and your rate.
Book the work
Once you're approved and sign with us, we set a start date.
Finance up to $50,000 of work
Residential projects up to $50,000 can be financed, on approved credit. These are the common ones.
Basement suite kitchenLegal basement suites
A second home under your main floor, with zoning checked first.
- Up to $50,000
- Up to 48 months
- On approved credit
- Written quote first
Basement suiteBasement development
Bedrooms and a bathroom in bare concrete, with permits pulled by us.
Bathroom renovationBathroom renovation
A walk-in shower or a full redo, waterproofed behind the tile.
Kitchen renovation
Open a wall or keep the layout, with one fixed price.
Detached garageAdditions and garages
More room on the house, or a detached garage with permits pulled.
Roof replacement
Stripped to the deck with new shingles, at one fixed price.
Siding and exteriors
New siding for worn or hail-hit walls, priced in writing.
How iFinance sets your rate
iFinance decides, within 0% to 9.99% on approved credit.
iFinance Canada decides who's approved and at what rate. Inside the program's range of 0% to 9.99% on approved credit, your rate depends on the plan and your credit profile, so two households financing the same kitchen can get different payments.
Apply once you have our written quote, since it tells you how much to borrow, or how much to finance if you're paying part from savings. The estimator gives a rough monthly figure, and the rate in your iFinance approval is the one that counts.
Can I pay another way?
Yes. Six other programs, and who each one is for.
Home renovation loans and programs in Alberta, with their status as of September 2026.
| Option | Who it is for | What it offers | Status |
|---|---|---|---|
| iFinance Canada, through Meadow | Homeowners with a quote from us | 0% to 9.99% on approved credit, terms up to 48 months, up to $50,000 | Available |
| CMHC Refinance for secondary suites | Owners adding a self-contained suite | Insured refinancing up to 90% of the property value, including the value the suite adds, where the as-improved value is under $2,000,000 | Available through lenders; CMHC must approve it before construction or at an early stage |
| Seniors Home Adaptation and Repair Program (SHARP) | Alberta seniors with total annual income of $75,000 or less and at least 25% equity in their home | A low-interest home equity loan of up to $40,000 | Open |
| Residential Access Modification Program (RAMP) | Low-income Albertans who meet one of its mobility criteria, such as using a wheelchair | Grants of up to $12,000 per person each benefit year, and up to $24,000 within 10 years | Open |
| Multigenerational home renovation tax credit | Households creating a self-contained unit so a senior, or an adult eligible for the disability tax credit, can live with a qualifying relative | A refundable federal credit at the lowest federal tax rate on up to $50,000 of eligible expenses; financing costs don't count | Claimed on your tax return |
| EPCOR Backwater Valve Subsidy | Edmonton homes without a backwater valve, aimed at houses built before 1989 and homes or neighbourhoods that have flooded before | Up to $800 toward installing one | Open while funding lasts, first come, first served |
| Clean Energy Improvement Program (CEIP) | Edmonton property owners making energy upgrades | Financing repaid through your property tax bill | New pre-qualification submissions go on a waitlist |
The $80,000 suite loan never opened
Budget 2025 cancelled the program before it took applications.
The 2024 Fall Economic Statement proposed Canada Secondary Suite Loan Program loans of up to $80,000 at 2% over 15 years. Budget 2025 cancelled the program before it opened. If you're adding a suite, CMHC Refinance for secondary suites, in the table above, is the insured option lenders offer as of September 2026.
What homeowners ask about financing
Is Meadow the lender?
No. Meadow is the contractor and iFinance Canada is the lender. iFinance reviews your application, decides whether to approve it and sets the rate, from 0% to 9.99% on approved credit. Our part is the fixed-price quote the loan is based on, and then the work itself.
What rates, terms and amounts are available?
0% to 9.99% on approved credit, for terms up to 48 months and amounts up to $50,000, through Meadow's iFinance Canada program. Where you land in that range depends on the plan and your credit profile. The estimator on this page opens at 9.99%, the top of the range.
Can I pay for a renovation in monthly instalments?
Yes. Through Meadow, iFinance lets you repay the project in monthly payments over a term of up to 48 months, on approved credit. A shorter term means a higher payment but less interest overall. At a 0% rate, the payment is simply the amount divided by the number of months.
What is the best way to finance a renovation?
For projects up to $50,000, our iFinance Canada program spreads the cost over monthly payments, on approved credit, without refinancing your home. For a suite, CMHC Refinance for secondary suites can reach 90% of the property value, including the value the suite adds. Paying from savings avoids interest altogether.
What grants does Alberta offer for home renovations?
As of September 2026, Alberta has one renovation grant, the Residential Access Modification Program: up to $12,000 per person each benefit year for low-income Albertans who meet its mobility criteria, and we build the grab bars and wheel-in showers it helps pay for. The Seniors Home Adaptation and Repair Program is a low-interest loan of up to $40,000, not a grant. The City's Clean Energy Improvement Program page says no City residential rebates are currently available.
Does loan interest count toward the multigenerational home renovation tax credit?
No. The Canada Revenue Agency lists financing costs among the expenses that don't qualify, so interest on a Meadow project loan can't be claimed. The credit covers eligible costs of creating a self-contained unit so a senior, or an adult eligible for the disability tax credit, can live with a qualifying relative. Our guide to the credit explains who qualifies and how to claim.
Can I finance more than $50,000?
No, not through this program: Meadow's iFinance financing goes up to $50,000 on approved credit. For a bigger job, combine it with savings or other borrowing, or phase the work. For a suite, CMHC Refinance through your lender can reach 90% of the property value, including the value the suite adds, and CMHC has to approve it before construction starts or at an early stage.
Does the payment estimator check my credit?
No. Meadow's estimator is a calculator that runs in your browser, and it doesn't ask for your name. Nothing you enter goes to iFinance or counts as an application. Your credit is only reviewed if you apply with iFinance Canada, because every rate in the program is on approved credit.
Have your written quote? Apply online, and iFinance replies with its decision.
Apply with iFinanceOn approved credit (OAC). Rates from 0% to 9.99% depending on plan and credit profile. Financing provided by iFinance Canada. Meadow Contracting is not a lender.