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Green Home Improvement Loan
Green Home Improvement Loan
Lender:
Burbank City Federal Credit Union
Contact Information
Property Types
Program Description
Umpqua Bank offers a GreenStreet Lending Home Equity Line of Credit (HELOC) that helps homeowners put their home's equity to an energy-smart use by financing energy efficiency projects and renewable energy systems. With a HELOC, the customer is “pre-approved†for a maximum amount of financing and may draw down on that credit line over a period of time. The GreenStreet HELOC allows a 10 year draw period, while repayment is over 20 years, giving the HELOC a total 30-year term. In addition, there is an optional lock-in feature to convert all or part of the balance from a variable rate loan to a fixed rate term loan.
Verified by Lender on: 8/24/2015
Types of Financing
Financing & Payment Information
Term (years):
5 - 30
Minimum Amount:
$5,000
Maximum Amount:
$150,000
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 Renewable Energy 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
Financing Approval Time
24-48 hours
Equity in Property Needed
No
Financial Products
Lien type | Secured 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 | $5,000 - $150,000 |
Financing Term (yrs.) | 5 - 30 year(s) |
Rate | Market Rate |
Money Down Required? | No |
Credit Enhancement Available | No |
Transferrable | No |
Prepayment Penalty or Fee | No |
Tax Deductibility | Yes |
Minimum Credit Score Required | No |
Equity in Property Required | Yes |
Debt to Income Ratio Required | Yes |
Involuntary Property Liens Allowed | No |
Foreclosures Allowed | Yes: Yes (occurred more than 7 years ago) |
Bankruptcies Allowed | Yes: Yes (occurred more than 7 years ago) |
Mortgage Lender Consent/ Acknowledgement | No |
Must be current on property taxes | No |
Must be current on mortgage | Yes |
Loan to value | Yes: 0.8% |
Debt Service Coverage Ratio | Yes: 0 |
Financing Approval Time | 24-48 hours |
Projected Energy Savings/Cash Flow is considered | No |
Must be current on utility bill | No |
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.