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Home Energy
Improvement Financing
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Energy improvements are unique
because they reduce energy bills
thereby increasing disposable
income.
Financing energy efficiency
improvements as part of your
home mortgage is the best way to
go. You have the advantage of
(1) low monthly payments due to
a 30-year term and a relatively
low interest rate; and (2)
interest that is deductible from
your income tax.
The improvements will qualify
for financing (based on credit)
since they increase the value of
the house without reducing
disposable income.
There are several options to
choose from:
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We offer financing on energy
efficient home improvements
through the Visa Home Projects
program. Ask us about 0%
financing.
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The FHA
Streamlined (k)
Limited Repair Program
is intended to facilitate
uncomplicated rehabilitation
and/or improvements to a home
for which plans, consultants,
engineers and/or architects
are not required.
HUD Mortgage
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The unsecured Fannie
Mae Energy Loan for
$1,000 to $20,000 is available
from some lenders. The
approval for this loan is fast
and simple. The Energy Loan’s
10-year term and interest
rates are generally better
than those offered by
contractors or suppliers,
though not as good as the
Streamlined (K).
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Some
electric or gas utilities
offer financing for energy
efficiency improvements, as
well as rebates for energy
efficient appliances and
heating and cooling systems.
Check your utilities website
for more information about
financing and rebates that may
be available. See the
Energy Star Rebate Locator
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