The CHF Residential Energy Program helps homeowners to finance home energy efficiency improvements with a 3.00% fixed interest rate 15-year loan with no limit on loan amount as long as the savings can be verified by audit.
Upon qualifying for the loan, the homeowner will also be eligible for a grant, up to $1,250 per home, to be put towards the project cost and a grant to cover the before and after inspections of the home. Qualifications include verification that the homeowner is current on the mortgage, property taxes and have a current source of income within the Program limits. There are no minimum credit score or appraisal requirements. Additional guidelines apply and are available from CHF.
The energy efficiency program is funded through a $16.5 million grant awarded to CHF by the California Energy Commission State Energy Program as part of the federal stimulus American Recovery and Reinvestment Act.
An example of 100% financing of qualified retrofit projects under the CHF Residential Energy Retrofit Program is based on a 15-year, fixed-rate CHF Loan: payment on a $10,000, 15-year fixed-rate CHF Loan at 3.00% interest would be $69.06/month and the Annual Percentage Rate (APR) would be 3.1083%.