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M-Core Credit Energy Loan

M-Core Credit Energy Loan
Lender: M-Core Credit Corporation
Contact Information
Website: www.m-corecredit.com
Phone: (845) 369-8777
Email: info@m-corecredit.com
Property Types
Program Description
The Neighborhood Housing Services' Revolving Loan Fund offers low to moderate income-qualified homeowners in Los Angeles County a secured loan to finance home renovations, including energy projects. The Revolving Loan Fund was created by Neighborhood Housing Services of LA County (NHS) and Grid Alternatives.
Verified by Lender on: 9/17/2015
Types of Financing
Secured
Financing & Payment Information
Term (years):
15
Minimum Amount:
$1
Maximum Amount:
$40,000
Fees:
None
Money Down Required:
Yes
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 Renewable Energy 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 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
More than 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 No
Requires utility incentive program participation No
Must use Program's pre-approved contractors No
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $1 - $40,000
Financing Term (yrs.) 15 year(s)
Rate 0 - 3%
Money Down Required? Yes
Credit Enhancement Available Yes - Other
Transferrable No
Prepayment Penalty or Fee No
Tax Deductibility No
Minimum Credit Score Required
Equity in Property Required Yes
Debt to Income Ratio Required Yes
Involuntary Property Liens Allowed No
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement No
Must be current on property taxes Yes
Must be current on mortgage Yes
Loan to value
Debt Service Coverage Ratio No
Financing Approval Time More than 48 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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