- Sonoma County Energy Independence Program (SCEIP)
- The CHF Residential Energy Retrofit Program
- PowerSaver Loan Program
- Statewide Clean Energy Upgrade Finance Program
SCEIP offers property owners within Sonoma County the opportunity to finance energy and water efficient property improvements through the property tax system. It is an innovative new effort to improve energy efficiency, water conservation and renewable energy generation, thereby reducing greenhouse gas emissions.
- Eligible Upgrades: Energy efficiency, water efficiency and renewables
- Interest Rates: 7% simple interest rate
- Payment Terms: 10 or 20 years fully amortized
- Financing amounts: Minimum of $2,500 and maximum of up to 10% of the property value
- Participation in this Sonoma County program is completely voluntary.
- Energy efficiency, water conservation, and renewable energy generation upgrades must be permanently attached to the property to qualify. Items not permanently attached such as dishwashers and other appliances are not allowed. Improvements like insulation, cool roofing, heating and air conditioning systems, waterless urinals, solar panels, and energy efficient windows are acceptable.
- Only improvements done to existing buildings qualify. Improvements to new construction do not qualify.
- Assessments are a lien on the property itself: state law allows the assessment to stay with the property when it is sold, but individual lenders may require the assessment to be paid upon sale or refinance of the property. Repayment is made through your property tax bill over time.
For more information:
Click here to find out more: http://www.sonomacountyenergy.org
The CHF Residential Energy Retrofit Program provides financial assistance to eligible homeowners in order to help them make energy efficiency improvements to their homes. The Program makes it possible to finance energy upgrades with a 6.5% fixed interest rate loan.
- Eligible Upgrades: Energy efficiency
- Interest Rates: 6.5% fixed interest rate
- Payment Terms: 15-year fully amortized
- Subject property must be located in an eligible county of California (list available on CHF website).
- Subject property must be a single-family 1-4 unit residential property.
- Applicant(s) must have a current source of income.
- Applicant(s) must be current on their mortgage and property taxes.
- Applicant(s) must have a minimum credit score of 640.
- Applicant(s) must not exceed a debt-to-income ratio of 45%.
- Applicant(s) must authorize auto withdrawal of loan payment.
- Applicant(s) must authorize a UCC 1 fixture filing lien for any equipment installed on property.
*For more information:
Additional guidelines may apply. Contractors performing related retrofit work are required to meet CHF’s Contractor Participation Guidelines. Under the Program, the monthly payment on a $10,000, 15-year fixed-rate loan at 6.50% interest would be $88.00 and the Annual Percentage Rate (APR) would be 7.319%. Click here to find out more: http://www.chfloan.org/Programs/Energy/energy_program.html
Sun West Mortgage Company, Inc. (Sun West, NMLS 3277) has teamed with the Electric & Gas Industries Association (EGIA) to offer homeowners access to the new Federal Housing Administration (FHA) sponsored PowerSaver Loan Program. This national loan program is backed by FHA and is sold on the secondary market. It, therefore, has funding that is not dependent on local utility or government programs. Homeowners take advantage of both the California rebates and special PowerSaver financing for eligible home energy improvements.
- Types of Upgrades: Energy efficiency and renewable energy improvements
- Interest Rates: For latest rates, visit www.powersaverloan.com
- Payment Duration: Up to 15 years for energy efficiency; up to 20 years for renewable energy improvements
- Financing Amounts: Up to $25,000
- Type of Loans: Secured by a lien on the property
- Other: No prepayment penalties.
- Incentives: As an added incentive, Sun West Mortgage is offering borrowers no closing costs for approximately the first one thousand loans (or until funds are expended) through a grant provided by the U.S. Department of Housing and Urban Development (HUD).
- Residential, single-family detached properties only
- Energy efficiency and renewable energy improvements must be installed by an EGIA GEOSmart Authorized Contractor; see directory at www.egia.org/swmc/directory
- Call (866) 7403677 or visit www.powersaverloan.com for more information
- Eligible Upgrades: Energy efficiency and solar
- Interest Rates: 4.99%-6.99%
- Payment Terms: 5-15 years
- Low fixed-rate loans offered throughout all of California for Energy Efficiency projects through Matadors Community Credit Union. MCCU was votes the Best Credit Union for 2012 by the Los Angeles Daily News.
- Qualified contractors must be participants in Energy Upgrade California and BPI certified.
- Energy assessment needs to show improvement of 10% or more in energy usage from proposed energy efficiency measures. Solar can be done concurrently or after energy efficiency measures.
- Quick Loan Decisions
- Excellent Service
- Online Application
- No Equity Needed
- Fixed Rates
- No Application Fees or Pre-Payment Penalties
For More Information:
Additional guidelines may apply. Click here to find out more: http://www.matadors.org/loans/energyloans.html