Energy Conservation Loan

The Capital for Change, Inc. offers Energy Efficiency Loans specifically designed for homeowners of one- to four-family residences, providing financial assistance to enhance energy efficiency within these homes. The eligibility for these loans is contingent upon various factors, including the homeowner’s income, family size, and the location of the property, with certain programs setting specific income caps and geographical requirements. The interest rates on these loans are variable, tailored according to the borrower’s income and family size, allowing for a repayment period extending up to 12 years. A notable feature of some of these programs is the provision of a 0% interest rate for loans to single-family homes, granted the household income does not exceed 50% of the Median Income.

Prospective applicants can access the necessary forms and information on the program’s official website. The application process requires the submission of several documents: the two most recent years’ federal tax returns, including all schedules, and a copy of a recent monthly mortgage statement. Alternatively, if the mortgage has been fully paid off, a release of mortgage or the property deed must be submitted. This comprehensive approach ensures that the program is accessible to those who meet the criteria, offering financial support to homeowners seeking to improve their property’s energy efficiency while potentially reducing their energy expenses.