It’s possible you’ll really feel intimidated by the method of making use of for an vitality mortgage, however it’s surprisingly simple. And at Elevations, we’re right here to assist you each step of the best way. Residence vitality loans can be utilized for initiatives massive or small; the minimal quantity Elevations will finance for a house vitality mortgage is $500. These 5 steps will assist you to go inexperienced with photo voltaic panels, new energy-efficient home windows or different initiatives.
1. Discover a Colorado RENU-authorized contractor.
We’re one of many solely credit score unions offering vitality loans below the Colorado Residential Vitality Improve (RENU) Mortgage program.
Earlier than beginning your undertaking, evaluate this checklist of ~100 RENU-authorized contractors. See who’s close by and focuses on your sort of undertaking. Then, you may attain out to start out a dialog.
2. Submit your vitality mortgage software.
You possibly can then full an Elevations vitality mortgage software. Inside a number of days of submitting your software, you need to obtain a affirmation e mail and a request to add supporting earnings paperwork. We’ll give extra particulars on that within the subsequent step.
When you’ve uploaded your earnings paperwork and acquired the contract settlement you have got for the work, it is going to usually take about 1-3 weeks for the Colorado Clear Vitality Fund (CCEF) to evaluate your contractor’s proposal and reply with an official approval or subsequent steps. If the CCEF approves your undertaking, we’ll let .
When you have any questions all through the method, be at liberty to name us at 800.429.7626.
3. Collect your supporting data.
Whereas your software is pending approval, we are going to attain out for one of many the next paperwork with a purpose to confirm your earnings:
- W2 worker: Your most up-to-date paystub
- Self-employed: Your most up-to-date 12 months’s tax return
- Retired/different: Your most up-to-date month-to-month earnings assertion
We are going to ship you an e mail with a hyperlink to securely add these paperwork. The e-mail can even embody the preliminary phrases of your vitality mortgage, together with price, time period, fee, and charges.
4. Achieve approval by your taking part vitality mortgage program.
As soon as the appliance is authorised, it’s good for 180 days. After that point, candidates would wish to re-submit earnings paperwork, have one other credit score examine and could be topic to any price adjustments.
5. Get began in your undertaking.
As soon as your undertaking has been authorised, you will have to grow to be an Elevations member when you aren’t already. After membership approval and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor instantly. Sometimes, you’ll schedule and full the undertaking together with your approved contractor and e mail the ultimate bill to Elevations when the undertaking is accomplished. Additionally, you will must evaluate and signal mortgage closing paperwork. These paperwork will probably be emailed to you securely, and you could choose to schedule a closing at one among our branches.
Fund your private home vitality undertaking.
Whether or not you’re trying to replace your electrical system to permit for a house charging system or change your home windows with extra environment friendly choices, you may fund your private home vitality undertaking domestically.
Be taught extra about Elevations vitality loans at present. When you have any questions, please give us a name at 800.429.7626. We sit up for serving to you lower your expenses and look after this stunning place we name residence with an Elevations Vitality Mortgage.
Learn extra about residence vitality loans:
💡 Which initiatives qualify for a house vitality mortgage?
🌳 Residence vitality audits 101
