Chances are you’ll really feel intimidated by the method of making use of for an power mortgage, nevertheless it’s surprisingly straightforward. And at Elevations, we’re right here to help you each step of the best way. Dwelling power loans can be utilized for initiatives large or small; the minimal quantity Elevations will finance for a house power mortgage is $500. These 5 steps will make it easier 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 power loans underneath the Colorado Residential Vitality Improve (RENU) Mortgage program.
Earlier than beginning your mission, evaluate this record of ~100 RENU-authorized contractors. See who’s close by and focuses on your sort of mission. Then, you possibly can attain out to begin a dialog.
2. Submit your power mortgage utility.
You’ll be able to then full an Elevations power mortgage utility. Inside a couple of days of submitting your utility, it is best to obtain a affirmation electronic 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 may have 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 mission, we’ll let you recognize.
You probably have any questions all through the method, be at liberty to name us at 800.429.7626.
3. Collect your supporting data.
Whereas your utility is pending approval, we are going to attain out for one of many the next paperwork to be able 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’ll ship you an electronic mail with a hyperlink to securely add these paperwork. The e-mail can even embrace the preliminary phrases of your power mortgage, together with charge, time period, cost, and charges.
4. Achieve approval by way of your taking part power 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 can be topic to any charge modifications.
5. Get began in your mission.
As soon as your mission has been authorised, you have to to turn out to be an Elevations member for those who aren’t already. After membership approval and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor immediately. Usually, you’ll schedule and full the mission along with your approved contractor and electronic mail the ultimate bill to Elevations when the mission is accomplished. Additionally, you will have to evaluate and signal mortgage closing paperwork. These paperwork might be emailed to you securely, and it’s possible you’ll decide to schedule a closing at certainly one of our branches.
Fund your private home power mission.
Whether or not you’re seeking to replace your electrical system to permit for a house charging system or exchange your home windows with extra environment friendly choices, you possibly can fund your private home power mission domestically.
Be taught extra about Elevations power loans as we speak. You probably 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 dwelling with an Elevations Vitality Mortgage.
Learn extra about dwelling power loans:
💡 Which initiatives qualify for a house power mortgage?
