It’s possible you’ll really feel intimidated by the method of making use of for an vitality mortgage, nevertheless it’s surprisingly straightforward. And at Elevations, we’re right here to help you each step of the way in which. House vitality loans can be utilized for initiatives massive or small; the minimal quantity Elevations will finance for a house vitality mortgage is $500. These 5 steps will show you how to go inexperienced with photo voltaic panels, new energy-efficient home windows or different initiatives.
1. Discover a Colorado RENU-authorized contractor.
We’re one of many solely credit score unions offering vitality loans beneath the Colorado Residential Vitality Improve (RENU) Mortgage program.
Earlier than beginning your venture, assessment this record of ~100 RENU-authorized contractors. See who’s close by and makes a speciality of your kind of venture. Then, you’ll be able to attain out to start out a dialog.
2. Submit your vitality mortgage software.
You may then full an Elevations vitality mortgage software. Inside a number of days of submitting your software, you must obtain a affirmation e mail and a request to add supporting earnings paperwork. We’ll give extra particulars on that within the subsequent step.
When you’ve uploaded your earnings paperwork and acquired the contract settlement you might have for the work, it would usually take about 1-3 weeks for the Colorado Clear Vitality Fund (CCEF) to assessment your contractor’s proposal and reply with an official approval or subsequent steps. If the CCEF approves your venture, we’ll let .
If in case you have any questions all through the method, be happy to name us at 800.429.7626.
3. Collect your supporting info.
Whereas your software is pending approval, we are going to attain out for one of many the next paperwork so as to confirm your earnings:
- W2 worker: Your most up-to-date paystub
- Self-employed: Your most up-to-date 12 months’s tax return
- Retired/different: Your most up-to-date month-to-month earnings assertion
We are going to ship you an e mail with a hyperlink to securely add these paperwork. The e-mail may also embody the preliminary phrases of your vitality mortgage, together with charge, time period, fee, and charges.
4. Acquire approval by your collaborating vitality mortgage program.
As soon as the appliance is accredited, it’s good for 180 days. After that point, candidates would want to re-submit earnings paperwork, have one other credit score test and could be topic to any charge modifications.
5. Get began in your venture.
As soon as your venture has been accredited, you have to to develop into an Elevations member if you happen to aren’t already. After membership approval and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor immediately. Usually, you’ll schedule and full the venture together with your licensed contractor and e mail the ultimate bill to Elevations when the venture is accomplished. Additionally, you will have to assessment and signal mortgage closing paperwork. These paperwork will probably be emailed to you securely, and you might decide to schedule a closing at one in every of our branches.
Fund your house vitality venture.
Whether or not you’re seeking to replace your electrical system to permit for a house charging system or change your home windows with extra environment friendly choices, you’ll be able to fund your house vitality venture domestically.
Be taught extra about Elevations vitality loans right now. If in case you have any questions, please give us a name at 800.429.7626. We sit up for serving to you lower your expenses and look after this lovely place we name house with an Elevations Vitality Mortgage.
Learn extra about house vitality loans:
💡 Which initiatives qualify for a house vitality mortgage?
