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PowerSaver Energy Upgrade Loan

PowerSaver Energy Upgrade Loan
Lender: U.S. Dept. of Housing & Urban Development & the Federal Housing Administration
Contact Information
Property Types
Program Description
Redwood Credit Union's Solar Loan provides financing up to $10,000 for the purchase and installation of solar panels on owner-occupied homes.
Redwood Credit Union's Solar Loan provides financing up to $15,000 for the purchase and installation of solar panels on owner-occupied homes.
Redwood Credit Union's Solar Loan provides financing up to $20,000 for the purchase and installation of solar panels on owner-occupied homes.
Redwood Credit Union's Solar Loan provides financing up to $50,000 for the purchase and installation of solar panels on owner-occupied homes.
Types of Financing
Secured
Financing & Payment Information
Term (years):
1
Minimum Amount:
$10,000
Maximum Amount:
$50,000
Fees:
None
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
No
Allowable Projects
Funds Renewable Energy projects
Other Program Requirements
Financing Approval Time
Equity in Property Needed
No

Financial Products

Lien type Loan with UCC-1 lienLoan with UCC-1 lienLoan with UCC-1 lienLoan with UCC-1 lien
Re-Payment Method Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)
Automatic payment option available YesYesYesYes
Requires utility incentive program participation NoNoNoNo
Must use Program's pre-approved contractors NoNoNoNo
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $5,000 - $9,999$10,000 - $14,999$15,000 - $19,999$20,000 - $50,000
Financing Term (yrs.) 1 year(s)1 year(s)1 year(s)1 year(s)
Rate 0%0%0%0%
Money Down Required?
Credit Enhancement Available
Transferrable NoNoNoNo
Prepayment Penalty or Fee
Tax Deductibility NoNoNoNo
Minimum Credit Score Required
Equity in Property Required NoNoNoNo
Debt to Income Ratio Required YesYesYesYes
Involuntary Property Liens Allowed NoNoNoNo
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement NoNoNoNo
Must be current on property taxes NoNoNoNo
Must be current on mortgage NoNoNoNo
Loan to value
Debt Service Coverage Ratio NoNoNoNo
Financing Approval Time
Projected Energy Savings/Cash Flow is considered NoNoNoNo
Must be current on utility bill NoNoNoNo

Upgrades Covered

No Results

FAQ's

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