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Making your property more weathertight and energy efficient will assist you in attracting tenants, reducing the property’s energy consumption, and lowering utility bills.
Loans may be for $3,000 to $40,000 and funding will be used for conducting qualified improvements/equipment replacements. Non-listed work directly related and necessary to the installation of the listed qualifying measures may be financed along with the qualifying measure at the applicable interest rate (capped at 20% of the total loan amount).
Eligibility
Applicants must own a single or 2-4 family home (includes condos, mobile homes, and vacation homes) in the State of Connecticut.
Projects that are under way or completed will not qualify for financing. Please do not schedule your project until after you have received your loan documents.
Loan Terms
$3,000 to $40,000 loan amount
5.99% - 7.49% interest rate
5-12 year repayment term
Eligible Improvements
(minimum efficiency standards must be met)
All work must be completed by a C4C Participating Contractor
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Insulation
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Boiler
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Furnace
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Heat Pumps
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Tankless Water Heater
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Indirect Water Heater
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Central Air Conditioning
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Windows
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Solar
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Geothermal
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Remediation
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Air / Duct Sealing
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Caulking, Weatherstripping
Our Energy Programs - Understanding Which Loan Is Right For You
Smart-E Loans
*** Capital for Change (C4C) is pleased to announce that we have achieved our goals for the Smart-E Funding Program. Consequently, we will be pausing our participation as a lender in the program, effective December 20th, 2023.
Smart-E Loans Homeowners can reduce their energy consumption by making their homes more weathertight with a variety of improvements, including insulation, windows, ENERGY STAR® heating and cooling systems, and solar panels. These “Smart-E” loans from $500 to $50,000 are available with interest rates from 5.99% to 7.49% for 5- to 12-year terms.
Home Energy Solutions Payment Plan (Micro) Loans
The Home Energy Solutions Payment Plan (Micro) Loan provides financing for smaller energy-efficiency improvements, such as insulation, that reduce household costs while maintaining healthy, efficient and comfortable homes. Loans may be for $1,000 to $3,000 and are offered at 0% interest for three years. These loans are limited to Eversource and United Illuminating residential electric customers.
EnergizeCT Heat Loans
A homeowner who is an Eversource or United Illuminating residential electric customer may be eligible for a 0.99% interest loan to purchase and install an energy-efficient heating system. This program requires a minimum down payment that is determined by the new system’s projected energy savings.
Smart-E Loan (paused) | EnergizeCT Heating Loan | HES Payment Plan (Micro Loan) | C4C Landlord Loan | |
|---|---|---|---|---|
Security | Unsecured | Unsecured | Unsecured | UCC Filing |
Prepayment Penalty | NO | NO | NO | NO |
Fees | NO | NO | NO | UCC Fee $50 |
Downpayment Required | NO | YES | NO | NO |
HES Assessment Required | NO | NO | YES | NO |
Eligible Improvements | See Table Button Below | Heating System | See Table Button Below | See Table Button Below |
Income Limit Applies | NO | NO | NO | NO |
CT Residency Required | YES | NO | NO | NO |
Owner-Occupancy Required | YES | NO | NO | NO |
Maximum Loan Amount | $50 000.00 | $15 000.00 | $3 000.00 | $40 000.00 |
Minimum Loan Amount | $500.00 | $1 350.00 | $500.00 | $3 000.00 |
Debt to Income Ratio Maximum *waived for higher credit scores | 50%* | N/A | N/A | 50%* |
Minimum FICO | 580 | N/A | N/A | 660 |
Underwriting Basis | Credit Report | Utility History | Utility History | Credit Report |
Eversource / UI Electric Customers Only | NO | YES | YES | NO |
Payments may be added to electric bill | NO | Required | Required | NO |
Repayment Plan | 5-12 years | 3-10 years | 3 years | 5-12 years |
Interest Rate | 5.99% - 7.49% | 0.99% | 0% | 5.99% - 7.49% |
||| We're Here To Help
Consumer Lending Customer Service
Phone: 1-855-656-5500
Lending@capitalforchange.org
Company: NMLS #276717
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