Home Energy Loan by Efficiency Vermont
The Home Energy Loan by Efficiency Vermont at Opportunities Credit Union helps Vermonters finance heating and home efficiency upgrades. With no minimum loan amount, up to $20,000 financing, and rates as low as 0.00%* APR, you’ve got nothing to lose! After approval, take advantage of qualifying rebates and incentives through Efficiency Vermont to save even more.
The Home Energy Loan by VEIC is made possible by the Vermont Department of Public Service and Efficiency Vermont’s Efficiency Excellence Network
Save Money
Save big on heating and cooling costs all year round. After your loan is approved, take advantage of qualifying rebates to save even more!
Great Rates and Terms
With no minimum loan amount, up to $20,000 financing, and rates as low as 0.00%* APR, you’ve got nothing to lose!
Fast and Easy
Get your home efficiency upgrades financed fast. Our loan application review process typically takes as little as one business day.
How to Apply
Applying for the Home Energy Loan Program is fast and easy. In just three easy steps, you can be on your way towards lowering your average monthly heating and cooling bills by making energy efficient home improvements.
Get Financed in Three Easy Steps
1. Work with a qualified contractor and obtain a quote.
2. Complete the Home Energy Loan project verification form
3. Complete the Home Energy Loan application.
After submitting your Home Energy Loan application to Opportunities, we will review your request and contact you with a decision. This process will typically take just one business day.
Work with a qualified contract to obtain a quote for:
For help with your application or to learn more fill out the form below.
Frequently Asked Questions
What is the Home Energy Loan?
The Home Energy Loan offers three key features of an effective financing program:
- Great interest rates and terms
- Flexible terms
- Fast and easy
With no minimum loan amount, up to $20,000 financing, and rates as low as 0.00%* APR, you’ve got nothing to lose!
Not sure how to make your home more efficient? Questions about which systems qualify? Contact Efficiency Vermont at 802-495-0680.
What are the eligible projects for the Home Energy Loan?
The Home Energy Loan helps you pay for improvements on your home related to both heating and home efficiency upgrades such as:
- High efficiency oil or propane furnaces and boilers (and in certain cases, natural gas furnaces/boilers)
- Cold-climate heat pumps
- Central wood pellet systems
- Solar domestic hot water systems
- Weatherization improvements
- Health and safety measures and repairs needed for the specific type of approved thermal system and energy efficiency measures (up to 50% of the total project cost for these measures and repairs is eligible for financing)
Is my property eligible?
Eligible properties include the following:
- 1-4 family owner occupied housing units including residential structures, condominiums and cooperatives
- Mobile homes on owned land
- If the building is 50 years or older or in a historic district and exterior equipment is visible from a public right-of-way or causes a ground disturbance, State Historic Preservation requirements must be complied with.
Please note that property cannot be an asset in any pending bankruptcy, legal, or divorce proceeding.
If you have additional questions regarding eligibility, please contact Efficiency Vermont at 802-495-0680.
What is the process?
Applying for the Home Energy Loan Program is fast and easy. In just three easy steps, you can be on your way towards lowering your average monthly heating and cooling bills by making energy efficient home improvements.
Get Financed in Three Easy Steps
-
Work with a qualified contractor and obtain a quote.
-
Complete the Home Energy Loan project verification form.
-
Complete the Home Energy Loan application.
After submitting your Home Energy Loan application to Opportunities Credit Union, we will review your request and contact you with a decision. This process will typically take just one business day.
After your loan has been approved
- Opportunities Credit Union will determine the amount of the loan and determine if you are eligible for any interest rate buy down.
- Opportunities Credit Union will schedule your loan closing.
- Funds will be disbursed on your project based on a schedule.
- You can then apply for any applicable rebates and incentives from Efficiency Vermont.
What are your rates?
Secured and unsecured loan options are available.
Interest rates are based on median family income for Vermont, Burlington / South Burlington MSA.
* Rates and terms are subject to change.
** Median Family Income for Vermont based on the Burlington-South Burlington MSA
| Loan Term | |||
| Household Income Qualifications | Up to 5 years | >5 years, up to 10 years | >10 years, up to 15 years |
| Below $60,000 | 0% | 1.99% | 2.99% |
| Between $60,000 - $90,000 | 0% | 2.99% | 3.99% |
| Over $90,000 | 4.99% | 5.99% | 6.99% |
How can I contact you?
If you have questions or would like to talk to us about the program, please call us at 802-495-0680 or fill out the form below.
* APR stands for “Annual Percentage Rate” APR/Rates are subject to change without notice. Your rate may increase if you do not elect an automated payment and/or based on your credit. Other restrictions and fees may apply. Brought to you by the Vermont Department of Public Service and Efficiency Vermont’s Efficiency Excellence Network.
