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Make your home more weathertight with improved insulation and windows. Upgrade to ENERGY STAR® heating and cooling systems. Improve the efficiency of your hot water equipment. All these improvements and more will help you reduce your energy consumption and can lower your utility bills. C4C can help you with low-interest loans made possible through a partnership with the Connecticut Green Bank.
Loans may be for $500 to $50,000 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 25% of the total loan amount).
Eligibility
Applicants must own and occupy* a single or 2-4 family home (includes condos, mobile homes, and vacation homes) in the State of Connecticut.
Minimum 580 credit score (Loans above $25,000 require higher scores).
Projects that are underway or completed will not qualify for financing. Please do not schedule your project until after you have received your loan documents from C4C. *If you do not occupy the property, please contact C4C regarding our alternate loan option.
Loan Terms
Electric customers may elect to have loan payments added to their monthly electric bill
$500 to $50,000 loan amount.
Rate/Term options:
5.99% for 5 years
5.99% for 7 years
6.99% for 10 years (Minimum loan size $3,000)
7.49% for 12 years (Minimum loan size $3,000)
Eligible Improvements
(minimum efficiency standards must be met)
All work must be completed by a C4C Participating Contractor
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High-Efficiency Insulation
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Duct Sealing
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Air Sealing
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Gas Conversion
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High-Efficiency Boiler/Furnace
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Central Air Conditioning
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Ductless Mini-Split Heat Pump
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Air Source/Ground Source Heat Pump
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Heat Pump Water Heater
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Indirect Water Heater (Natural Gas only)
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On-Demand Tankless Water Heater (Natural Gas/Propane only)
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Window Replacement
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Solar PV System
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Solar Hot Water System
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Electric Vehicle Recharging Station
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Natural Gas Vehicle Refueling Station
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ENERGY STAR® appliances
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Asbestos Remediation
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Mold Remediation
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Roof Repair or replacement for Solar Installation
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Tree Removal for Solar Installation
Our Energy Programs - Understanding Which Loan Is Right For You
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.
Landlord Loan
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.
Smart-E Loan | 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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