It’s possible you’ll really feel intimidated by the method of making use of for an power mortgage, but it surely’s surprisingly simple. And at Elevations, we’re right here to help you each step of the best way. Dwelling power loans can be utilized for tasks large or small; the minimal quantity Elevations will finance for a house power mortgage is $500. These 5 steps will assist 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 challenge, evaluation this checklist of ~100 RENU-authorized contractors. See who’s close by and focuses on your kind of challenge. Then, you’ll be able to attain out to begin a dialog.
2. Submit your power mortgage utility.
You possibly can then full an Elevations power mortgage utility. Inside a number of days of submitting your utility, it’s best to obtain a affirmation electronic mail and a request to add supporting revenue paperwork. We’ll give extra particulars on that within the subsequent step.
When you’ve uploaded your revenue paperwork and obtained the contract settlement you’ve for the work, it is going to usually take about 1-3 weeks for the Colorado Clear Power Fund (CCEF) to evaluation your contractor’s proposal and reply with an official approval or subsequent steps. If the CCEF approves your challenge, 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 revenue:
- 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 revenue assertion
We’ll ship you an electronic mail with a hyperlink to securely add these paperwork. The e-mail may also embody the preliminary phrases of your power mortgage, together with fee, time period, fee, and charges.
4. Achieve approval by your taking part power mortgage program.
As soon as the appliance is permitted, it’s good for 180 days. After that point, candidates would want to re-submit revenue paperwork, have one other credit score examine and could be topic to any fee modifications.
5. Get began in your challenge.
As soon as your challenge has been permitted, you will have to grow to be an Elevations member if you happen to aren’t already. After membership approval and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor immediately. Sometimes, you’ll schedule and full the challenge along with your approved contractor and electronic mail the ultimate bill to Elevations when the challenge is accomplished. Additionally, you will have to evaluation and signal mortgage closing paperwork. These paperwork can be emailed to you securely, and you could choose to schedule a closing at one in all our branches.
Fund your private home power challenge.
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’ll be able to fund your private home power challenge domestically.
Be taught extra about Elevations power loans at this time. You probably have any questions, please give us a name at 800.429.7626. We stay up for serving to you lower your expenses and look after this stunning place we name dwelling with an Elevations Power Mortgage.
Learn extra about dwelling power loans:
💡 Which tasks qualify for a house power mortgage?