You could really feel intimidated by the method of making use of for an vitality mortgage, nevertheless it’s surprisingly straightforward. And at Elevations, we’re right here to assist you each step of the way in which. Dwelling vitality loans can be utilized for tasks huge or small; the minimal quantity Elevations will finance for a house vitality mortgage is $500. These 5 steps will allow you to go inexperienced with photo voltaic panels, new energy-efficient home windows or different tasks.
1. Discover a Colorado RENU-authorized contractor.
We’re one of many solely credit score unions offering vitality loans underneath the Colorado Residential Vitality Improve (RENU) Mortgage program.
Earlier than beginning your undertaking, assessment this checklist of ~100 RENU-authorized contractors. See who’s close by and makes a speciality of your kind of undertaking. Then, you possibly can 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 couple of days of submitting your software, it’s best 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 obtained the contract settlement you’ve for the work, it would sometimes take about 1-3 weeks for the Colorado Clear Vitality Fund (CCEF) to assessment your contractor’s proposal and reply with an official approval or subsequent steps. If the CCEF approves your undertaking, we’ll let you realize.
If in case 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’ll attain out for one of many the next paperwork so as 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 may even embody the preliminary phrases of your vitality mortgage, together with fee, time period, cost, and charges.
4. Achieve approval via your taking part vitality mortgage program.
As soon as the appliance is accredited, it’s good for 180 days. After that point, candidates would want to re-submit earnings paperwork, have one other credit score test and can be topic to any fee adjustments.
5. Get began in your undertaking.
As soon as your undertaking has been accredited, you will have to develop into 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. Usually, you’ll schedule and full the undertaking along with your approved contractor and e mail the ultimate bill to Elevations when the undertaking is accomplished. Additionally, you will have to assessment and signal mortgage closing paperwork. These paperwork might be emailed to you securely, and you might decide to schedule a closing at one in every of our branches.
Fund your house vitality undertaking.
Whether or not you’re trying to replace your electrical system to permit for a house charging system or substitute your home windows with extra environment friendly choices, you possibly can fund your house vitality undertaking regionally.
Study extra about Elevations vitality loans at the moment. If in case you have any questions, please give us a name at 800.429.7626. We look ahead to serving to you lower your expenses and take care of this lovely place we name house with an Elevations Vitality Mortgage.
Learn extra about house vitality loans:
💡 Which tasks qualify for a house vitality mortgage?
🌳 Dwelling vitality audits 101
