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The Energy Loan Program
The Energy Loan Program
Lender:
Valley Oak Credit Union
Contact Information
Website:
https://www.valleyoak.org/Borrow/Energy-Efficiency-Loans.aspx
Phone: (559) 688-5996 , ext. 2315
Email: kvaughan@valleyoak.org
Phone: (559) 688-5996 , ext. 2315
Email: kvaughan@valleyoak.org
Property Types
Program Description
The Energy Loan Program is offered through Valley Oak Credit Union, a CHEEF Participating Lender. It offers an unsecured loan to pay for eligible energy efficiency projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy efficiency home improvements, such as water-saving projects and remodeling.
The Energy Loan Program is offered through Valley Oak Credit Union, a CHEEF Participating Lender. It offers an unsecured loan to pay for eligible energy efficiency projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy efficiency home improvements, such as water-saving projects and remodeling.
The Energy Loan Program is offered through Valley Oak Credit Union, a CHEEF Participating Lender. It offers an unsecured loan to pay for eligible energy efficiency projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy efficiency home improvements, such as water-saving projects and remodeling.
The Energy Loan Program is offered through Valley Oak Credit Union, a CHEEF Participating Lender. It offers an unsecured loan to pay for eligible energy efficiency projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy efficiency home improvements, such as water-saving projects and remodeling.
The Energy Loan Program is offered through Valley Oak Credit Union, a CHEEF Participating Lender. It offers an unsecured loan to pay for eligible energy efficiency projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy efficiency home improvements, such as water-saving projects and remodeling.
Verified by Lender on: 11/22/2016
Types of Financing
Financing & Payment Information
Term (years):
1 - 15
Minimum Amount:
$1,500
Maximum Amount:
$50,000
Fees:
Yes
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds other energy projects - For example, some financing may be primarily for energy efficiency projects; however, it may allow 30% of the financing to fund other water efficiency or renewable projects.
Funds other energy-related projects - For example, some financing may also allow funding for projects in relation to installing the approved product, such as mold or asbestos remediation.
Funds other non-energy projects - Some financing may allow funding for non-energy projects, such as a kitchen or bath remodel, or seismic upgrades.
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Within 24 hours - Preliminary
Equity in Property Needed
No
Financial Products
| Lien type | Unsecured loan | Unsecured loan | Unsecured loan |
| Re-Payment Method | Off-bill loan (Direct to Lender) | Off-bill loan (Direct to Lender) | Off-bill loan (Direct to Lender) |
| Property Types | |||
| Automatic payment option available | Yes | Yes | Yes |
| Requires utility incentive program participation | No | No | No |
| Must use Program's pre-approved contractors | Yes | Yes | Yes |
| One-time fees (% of total financing) | 0.07 | Varies - 11.11 | Varies - 1.11 |
| One-time fees (fixed) | 0.06 | No | 0.08 |
| Ongoing fees | No | 0.05 | 0.10 |
| Financing Amount | $1,500 - $50,000 | $10,000 - $50,000 | $25,000 - $50,000 |
| Financing Term (yrs.) | 1 - 5 year(s) | 6 - 10 year(s) | 11 - 15 year(s) |
| Rate | 6.6 - 10% | 6.6 - 10% | 6.6 - 10% |
| Money Down Required? | No | No | No |
| Credit Enhancement Available | Other | Other | Other |
| Transferrable | No | No | No |
| Prepayment Penalty or Fee | No | No | No |
| Tax Deductibility | No | No | No |
| Minimum Credit Score Required | Yes: 580 | Yes: 580 | Yes: 580 |
| Equity in Property Required | No | No | No |
| Debt to Income Ratio Required | Yes | Yes | Yes |
| Involuntary Property Liens Allowed | No | No | No |
| Foreclosures Allowed | Yes: Any Time | Yes: Any Time | Yes: Any Time |
| Bankruptcies Allowed | Yes: Any Time | Yes: Any Time | Yes: Any Time |
| Mortgage Lender Consent/ Acknowledgement | No | No | No |
| Must be current on property taxes | No | No | No |
| Must be current on mortgage | No | No | No |
| Loan to value | No | No | No |
| Debt Service Coverage Ratio | Yes: 55 | Yes: 55 | Yes: 55 |
| Financing Approval Time | within 24 hours - Preliminary | within 24 hours - Preliminary | within 24 hours - Preliminary |
| Projected Energy Savings/Cash Flow is considered | Yes | Yes | Yes |
| Must be current on utility bill | No | No | No |
Upgrades Covered
No Results
FAQ's
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