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METRO's Energy Efficiency Loan Program

METRO's Energy Efficiency Loan Program
Lender: San Diego Metropolitan Credit Union
Contact Information
Website: http://www.sdmcu.org/home/loans/solar
Phone: (619) 297-4836
Email: memberservices@sdmcu.org
Property Types
Program Description
Santa Cruz Community Credit Union's Energy Efficiency Loan provides up to $10,000 of financing to eligible single-family homeowners for installation of energy efficiency improvements including the purchase of appliances, replacement of windows, landscaping and irrigation improvements, waste reduction, recycling and composting.
Verified by Lender on: 10/16/2015
Types of Financing
Unsecured
Financing & Payment Information
Term (years):
5
Minimum Amount:
$1
Maximum Amount:
$10,000
Fees:
None
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 Water Efficiency projects
Funds Demand Response 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 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
Financing Approval Time
Within 24 hours
Equity in Property Needed
No

Financial Products

Lien type Unsecured loan
Re-Payment Method Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available Yes
Requires utility incentive program participation No
Must use Program's pre-approved contractors No
One-time fees (% of total financing) No
One-time fees (fixed) No
Ongoing fees No
Financing Amount $1 - $10,000
Financing Term (yrs.) 5 year(s)
Rate 5.75 - 8.49%
Money Down Required? No
Credit Enhancement Available None
Transferrable Yes
Prepayment Penalty or Fee No
Tax Deductibility No
Minimum Credit Score Required Yes: 650
Equity in Property Required No
Debt to Income Ratio Required Yes
Involuntary Property Liens Allowed No
Foreclosures Allowed Yes: More than 2 years ago
Bankruptcies Allowed Yes: More than 2 years ago
Mortgage Lender Consent/ Acknowledgement No
Must be current on property taxes No
Must be current on mortgage No
Loan to value No
Debt Service Coverage Ratio No
Financing Approval Time within 24 hours
Projected Energy Savings/Cash Flow is considered No
Must be current on utility bill No

Upgrades Covered

No Results

FAQ's

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