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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 assist you each step of the way in which. House power loans can be utilized for tasks large or small; the minimal quantity Elevations will finance for a house power mortgage is $500. These 4 steps will assist you go inexperienced with photo voltaic panels or new energy-efficient home windows and rather more.
Outline the venture
To get began, you’ll wish to establish your native power mortgage program and search venture approval. Our collaborating power mortgage companions are Boulder County’s Power Good Program, HELP Loans for Metropolis of Fort Collins Utilities Clients and Colorado Clear Power Fund loans via the Colorado Clear Power Fund. Your power advisor will assist you establish out there rebates and monetary incentives, plus join you with a collaborating contractor. Study extra about which tasks qualify for a house power mortgage on our weblog.
One factor to bear in mind is that every one contractors should be on the licensed contractors listing for the mortgage to be accepted. This listing updates usually, socheck it earlier than beginning a venture.
Submit your software
You’ll be able to then full our power mortgage software. As soon as your software is submitted you must obtain a affirmation electronic mail inside a couple of enterprise days. When you’ve uploaded your revenue paperwork (see subsequent part), it can usually take about 1-3 weeks for the Colorado Clear Power Fund (CCEF) to assessment your contractor’s proposal and reply with an official approval or subsequent steps. If CCEF approves your venture, then we attain out to let you already know your venture can proceed. When you have any questions all through the method, be at liberty to name us at 800.429.7626.
Collect your supporting info
As soon as your software is pending approval, we’ll attain out
for the next info:
- Verification of Earnings
- W2 Worker –
most up-to-date paystub - Self-Employed
– most up-to-date 12 months’s tax return - Retired/Different
– most up-to-date month-to-month revenue assertion
- W2 Worker –
- Mission approval via your collaborating power mortgage program
We are going to 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 price, time period, cost, and charges. As soon as the applying is accepted, it’s good for 180 days. After that point, candidates would wish to re-submit revenue paperwork, have one other credit score examine and could be topic to any price adjustments.
Get began in your venture
As soon as your mortgage is accepted by Elevations and the collaborating power mortgage program, we’ll contact you with the subsequent steps.
Sometimes, you’ll schedule and full the venture together with your licensed contractor and electronic mail the ultimate bill to Elevations when the venture is accomplished. Additionally, you will must assessment and signal mortgage closing paperwork; these paperwork will probably be emailed to you securely, and you could decide to schedule a closing at one in all our branches.
As soon as your venture has been accepted, you will want to ascertain your membership account at Elevations earlier than closing in case you are not at the moment an Elevations member. After membership, approval, and mortgage closing, Elevations will use your mortgage proceeds to pay your contractor instantly. Study turning into an Elevations member right here.
Please notice that your software is sweet for 180 days. To proceed with a venture after that point, we would wish to re-pull your credit score and recollect revenue paperwork. At the moment, you’d then be topic to present charges, if they’ve modified.
When you have any questions, please give us a name at 800.429.7626. We look ahead to serving to you get monetary savings and take care of this lovely place we name house with an Elevations Power Mortgage.
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