What’s the method to qualify for a house power mortgage? 

Chances are you’ll really feel intimidated by the method of making use of for an power mortgage, however it’s surprisingly simple. And at Elevations, we’re right here to assist you each step of the best way. House power loans can be utilized for initiatives huge 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 initiatives.  

1. Discover a Colorado RENU-authorized contractor. 

We’re one of many solely credit score unions offering power loans beneath the Colorado Residential Power Improve (RENU) Mortgage program.  

Earlier than beginning your mission, evaluate this checklist of ~100 RENU-authorized contractors. See who’s close by and makes a speciality of your sort of mission. Then, you may attain out to begin a dialog. 

2. Submit your power mortgage software. 

You may then full an Elevations power mortgage software. Inside a couple of days of submitting your software, it’s best to obtain a affirmation e 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 may have for the work, it can usually 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 mission, we’ll let .  

When you’ve got any questions all through the method, be at liberty to name us at 800.429.7626.  

3. Collect your supporting info.

Whereas your software is pending approval, we are going to attain out for one of many the next paperwork as a way 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 e mail with a hyperlink to securely add these paperwork. The e-mail can even embrace the preliminary phrases of your power mortgage, together with charge, time period, cost, and charges.

4. Acquire approval via your collaborating power mortgage program.

As soon as the applying is permitted, it’s good for 180 days. After that point, candidates would wish to re-submit revenue paperwork, have one other credit score verify and could be topic to any charge modifications.  

5. Get began in your mission.

As soon as your mission has been permitted, you will want to turn into an Elevations member should you 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 mission along with your approved contractor and e mail the ultimate bill to Elevations when the mission is accomplished. Additionally, you will have to evaluate and signal mortgage closing paperwork. These paperwork might be emailed to you securely, and you might decide to schedule a closing at one in every of our branches.  

Fund your property power mission. 

Whether or not you’re seeking to replace your electrical system to permit for a house charging system or exchange your home windows with extra environment friendly choices, you may fund your property power mission domestically. 

Be taught extra about Elevations power loans immediately. When you’ve got any questions, please give us a name at 800.429.7626. We stay up for serving to you get monetary savings and look after this stunning place we name residence with an Elevations Power Mortgage. 

Learn extra about residence power loans: 

💡 Which initiatives qualify for a house power mortgage? 

🌳 House power audits 101 

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