Secured
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SMUD's Residential Unsecured Loan (Title 24 AC or Heat Pump)
SMUD's Residential Unsecured Loan (Title 24 AC or Heat Pump)
Lender:
Sacramental Municipal Utility District (SMUD)
Contact Information
Website:
https://www.smud.org/en/residential/save-energy/rebates-incentives-financing/financing.htm
Phone: (916) 732-5472
Email: customerservices@smud.org
Phone: (916) 732-5472
Email: customerservices@smud.org
Property Types
Program Description
SMUD offers secured loans for qualified SMUD ratepayers who install energy efficient windows and/or a solar domestic hot water heater in their home. Products must meet SMUD's minimum efficiency standards to be eligible for financing.
Verified by Lender on: 08/05/2015
Types of Financing
Financing & Payment Information
Term (years):
10
Minimum Amount:
$1
Maximum Amount:
$30,000
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 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.
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Within 24 hours
Equity in Property Needed
No
Financial Products
| Lien type | Unsecured UCC-1 (equipment collateral) |
| Re-Payment Method | Off-bill loan (Direct to Lender) |
| Property Types | |
| Automatic payment option available | Yes |
| Requires utility incentive program participation | Yes |
| Must use Program's pre-approved contractors | Yes |
| One-time fees (% of total financing) | No |
| One-time fees (fixed) | 100.00 |
| Ongoing fees | No |
| Financing Amount | $1 - $30,000 |
| Financing Term (yrs.) | 10 year(s) |
| Rate | 6.99% |
| Money Down Required? | No |
| Credit Enhancement Available | None |
| Transferrable | No |
| Prepayment Penalty or Fee | No |
| Tax Deductibility | No |
| Minimum Credit Score Required | No |
| Equity in Property Required | No |
| Debt to Income Ratio Required | Yes |
| Involuntary Property Liens Allowed | No |
| Foreclosures Allowed | Yes: More than 5 years ago |
| Bankruptcies Allowed | Yes: More than 2 years ago |
| Mortgage Lender Consent/ Acknowledgement | No |
| Must be current on property taxes | Yes |
| Must be current on mortgage | Yes |
| Loan to value | Yes: 0% |
| 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 | Yes |
Upgrades Covered
No Results
FAQ's
Through our Contractor Marketplace, you can search for contractors and find the right fit for your project. You find out details about the contractor such as what types of certifications they have and where they are located. You can also directly find reviews when available. From there it is easy to connect and get started with your projects. A quality installation of equipment increases the benefits and efficiency of your new equipment.
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