It’s possible 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 assist you each step of the way in which. Dwelling power loans can be utilized for tasks huge or small; the minimal quantity Elevations will finance for a house power 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 power loans underneath the Colorado Residential Power 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 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 number of days of submitting your utility, you must 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’ve gotten for the work, it can sometimes take about 1-3 weeks for the Colorado Clear Power 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 you recognize.
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 utility is pending approval, we’ll attain out for one of many the next paperwork with a view 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 e mail with a hyperlink to securely add these paperwork. The e-mail may also embrace the preliminary phrases of your power mortgage, together with price, time period, cost, and costs.
4. Acquire approval via your collaborating power mortgage program.
As soon as the appliance is accepted, 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 price modifications.
5. Get began in your undertaking.
As soon as your undertaking has been accepted, you’ll need to change 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 straight. Sometimes, you’ll schedule and full the undertaking along with your licensed contractor and e mail the ultimate bill to Elevations when the undertaking is accomplished. Additionally, you will have to evaluate and signal mortgage closing paperwork. These paperwork can be emailed to you securely, and you could decide to schedule a closing at one among our branches.
Fund your property power undertaking.
Whether or not you’re seeking 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 property power undertaking domestically.
Be taught extra about Elevations power loans in the present day. In case you have any questions, please give us a name at 800.429.7626. We sit up for serving to you get monetary savings and take care of this lovely place we name house with an Elevations Power Mortgage.
Learn extra about house power loans:
💡 Which tasks qualify for a house power mortgage?
