You might really feel intimidated by the method of making use of for an power mortgage, nevertheless it’s surprisingly simple. And at Elevations, we’re right here to help you each step of the best way. Residence power loans can be utilized for initiatives huge or small; the minimal quantity Elevations will finance for a house power mortgage is $500. These 4 steps will assist you go inexperienced with photo voltaic panels or new energy-efficient home windows and rather more.
Outline the venture
To get began, you’ll wish to determine your native power mortgage program and search venture approval. Our collaborating power mortgage companions are Boulder County’s Power Good Program, HELP Loans for Metropolis of Fort Collins Utilities Clients and Colorado Clear Power Fund loans by way of the Colorado Clear Power Fund. Your power advisor will assist you determine obtainable rebates and monetary incentives, plus join you with a collaborating contractor. Be taught extra about which initiatives qualify for a house power mortgage on our weblog.
One factor to remember is that each one contractors have to be on the approved contractors record for the mortgage to be permitted. This record updates typically, socheck it earlier than beginning a venture.
Submit your software
You’ll be able to then full our power mortgage software. As soon as your software is submitted it is best to obtain a affirmation e mail inside a number of enterprise days. When you’ve uploaded your revenue paperwork (see subsequent part), it would usually take about 1-3 weeks for the Colorado Clear Power Fund (CCEF) to evaluation your contractor’s proposal and reply with an official approval or subsequent steps. If CCEF approves your venture, then we attain out to let you already know your venture can proceed. When you’ve got any questions all through the method, be happy to name us at 800.429.7626.
Collect your supporting info
As soon as your software is pending approval, we’ll attain out
for the next info:
- Verification of Revenue
- W2 Worker –
most up-to-date paystub - Self-Employed
– most up-to-date yr’s tax return - Retired/Different
– most up-to-date month-to-month revenue assertion
- W2 Worker –
- Mission approval by way of your collaborating power mortgage program
We are going to ship you an e mail with a hyperlink to securely add these paperwork. The e-mail may even embody the preliminary phrases of your power mortgage, together with charge, time period, cost, and costs. As soon as the appliance is permitted, it’s good for 180 days. After that point, candidates would want to re-submit revenue paperwork, have one other credit score verify and can be topic to any charge modifications.
Get began in your venture
As soon as your mortgage is permitted by Elevations and the collaborating power mortgage program, we’ll contact you with the following steps.
Sometimes, you’ll schedule and full the venture along with your approved contractor and e mail the ultimate bill to Elevations when the venture is accomplished. Additionally, you will have to evaluation and signal mortgage closing paperwork; these paperwork will probably be emailed to you securely, and you could choose to schedule a closing at one in every of our branches.
As soon as your venture has been permitted, you will want to determine your membership account at Elevations earlier than closing in case you are not presently an Elevations member. After membership, approval, and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor instantly. Study changing into an Elevations member right here.
Please be aware that your software is sweet for 180 days. To proceed with a venture after that point, we would want to re-pull your credit score and recollect revenue paperwork. At the moment, you’ll then be topic to present charges, if they’ve modified.
When you’ve got any questions, please give us a name at 800.429.7626. We look ahead to serving to you lower your expenses and look after this lovely place we name dwelling with an Elevations Power Mortgage.
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