Financing
The EE marketplace has recognized the need for attractive low-interest financing to lower the overall costs to implement EE improvements. Low-interest financing allows affordable monthly payments while enjoying all the benefits now. Some financing has lower fico score qualifications.
| Approx. Monthly Pymt for $10,000 | Lender / Loan Program | Interest * | Loan Limit | Pymt Term Years | Doc Income | Appraisal Required | Max Loan to Value | Min FICO | |
|
Unsecured Financing |
|||||||||
|
$125 |
GeoSmart With buy dwn |
7.99% |
25,000 |
10 |
Stated |
No |
n/a |
||
|
$155 |
Fannie Energy |
13.99% |
20,000 |
10/12 |
Stated |
No |
n/a |
||
|
$95 |
San Diego Credit Union |
7.99% |
25,000 |
15 EE |
Full |
No |
n/a |
650 |
|
|
$106 |
SDMCU |
4.99% + |
25,000 |
5-15 |
Full |
No |
n/a |
620 |
|
|
Secured Lien |
|||||||||
|
$54 |
Conventional |
5% |
40,000 |
30 |
Full |
Yes |
80% |
||
|
$41 |
EEM |
3.75% |
5% of |
30 |
Full |
Yes |
96.5% |
||
|
$41 |
203K |
3.75% |
35,000 Or more |
30 |
Full |
Yes |
96.5% |
||
|
$96 |
PowerSaver |
8% |
25,000 |
15 |
Full |
Yes |
100% |
660 |
|
|
|
|
|
None |
15 |
Full |
No |
n/a |
n/a |
|
|
|
|
|
20,000 |
10 |
No |
No |
100% |
||
203K Loans
This loan is unique in that it allows you to incorporate a construction loan with a home loan for purchase or for refinance. The most attractive benefit is utilizing the home’s low-interest rates for the construction loan amount. EE improvements can be included with the construction loan. This would still qualify for rebates and other incentives.
This is an ideal loan program for buying distressed or outdated properties and making improvements to your individual remodeling tastes and new trends.
San Diego Metropolitan Credit Union (SDMCU)
SDMCU has a full portfolio of loans specific for EE improvements. The portfolio offers options with low FICO score, addition of standard home improvements and renewables including solar photo voltaic.
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