Energy Defense Loan
A Energy Defense Loan provides funds for Homeowners to make energy efficient improvements to their homes.
Overview
An Energy Defense Loan provides funds for homeowners to make energy-efficient improvements to their homes. We are as local as the seasons, and we want to help you prepare for each one that Idaho throws at us.
Use an Energy Defense Loan for energy-efficient home improvements, including:
- Windows
Doors
Pellet & wood stoves
Insulation
Weather stripping
Air conditioning
Furnace or heat pumps
Roofing
Energy Defense Rates
| Term | APR* |
|---|---|
| Up to 7 Years | 5.90% to 10.25% |
*APR=Annual Percentage Rate. Energy Defense APR ranges between 5.90% to 10.25%. $500 Minimum, $32,000 Maximum. Rates, terms, and conditions based on creditworthiness, qualifications, loan amounts, and verifiable gross household income. All loans subject to approval. Improvements must be for homeowner’s primary residence. Loan proceeds directly payable to the installers and retailers of weatherization activities and products. Loan use is for weatherization and/or energy efficiency purposes only, including purchasing approved appliances. Primary Residence Mortgage Loan must be current. East Idaho Credit Union is an Equal Opportunity Lender.
Features/Benefits
| Feature | Benefit |
|---|---|
| Eligibility | Primary Residence Applicant must be employed or be receiving qualifying fixed income at the time the loan is funded Must be located in Idaho Must be current on primary mortgage Manufactured Homes are eligible only if on a foundation |
| Terms | Up to 84 Months (7 years) Payments will be principal and interest payments Credit Score required to determine qualified interest rate Fixed Interest Rates |
| Loan to Value | Maximum loan amount and term will be determined by gross household income |
| Loan Amounts | Minimum of $500 Maximum of $32,000 |
| Fees | No Origination Fee No Annual Fee |
| Credit Advances | All funds are advanced up front and paid directly to the contractor (in most cases) |
| Uses | Energy Efficient Home Improvements including but not limited to; Energy Efficient Windows and Doors Insulation replacement or augmentation Weather stripping and other energy efficient materials Energy efficient water heaters, heat pumps/furnaces Pellet and wood stove additions or replacements Roof replacements |
