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National Energy Improvement Fund Launches Home Energy Improvement Financing Plan in Eight States
ALLENTOWN, Pa., May 1, 2019 /PRNewswire/ — The National Energy Improvement Fund, LLC, (NEIF), a licensed lender and national expert in energy efficiency financing, has launched its new NEIF Home Energy Improvement Plan, available to qualifying homeowners, to finance home energy upgrades.
These include improvements such as heating and cooling, windows, doors, siding and roofing, air sealing and insulation, electrical and plumbing, geothermal and whole home energy projects. Work must be performed by NEIF-approved contractors who have been vetted for financial stability and ethical business practices. www.neifund.org.
The NEIF Home Energy Improvement Plan is currently available to homeowners in Connecticut, Delaware and other states served.
NEIF Home Energy Improvement Pan
At the core of the NEIF Home Energy Improvement Plan is “True Fixed Rate” pricing. The NEIF Home Energy Improvement Plan is simple interest, longer term, fixed rate. All come with installment financing from $2,500 to $25,000.
There is no lien on the borrower’s home. Also no fees to the borrower and no penalty for pre-payment. Applications are decisioned instantly, the process is paperless, and contractors are paid when work is completed to the customer’s satisfaction. The interest rate and monthly payment are locked in for the full term of the loan, up to ten years, longer than typically available for unsecured loans from traditional lenders. All homeowners who are making qualifying improvements to their primary residence or vacation home are eligible to apply. Good credit and the ability to repay are required. All income levels are eligible.
The NEIF Home Energy Improvement Plan addresses a basic market need. Home energy improvements are expensive. Also many homeowners delay the upgrade. That’s versus installing the cheapest, least efficient model possible. Credit cards, short-term promotional financing offered by manufacturers. That’s cumbersome traditional financing which doesn’t address the needs of many buyers and contractors. People are looking for rapid, in-home credit decisions and longer-term monthly payment affordability. That’s for major capital purchases like energy-related home improvements. Many competitive lending options are adjustable rates and some that appear to be fixed-rate but that can change to a higher rate after a promotional period or under other circumstances.
The NEIF team has been responsible for over $700 million in energy efficiency financing. It has been innovators in some of the nation’s most successful energy financing programs. As well as Pennsylvania’s Keystone Home Energy Loan Program. In addition, the FannieMae Energy Loan program. Finally, because many state and utility financing programs and the first-ever securitization of consumer energy efficiency loans.
In conclusion, NEIF plans to offer enhanced terms on future home energy programs. Programs with manufacturers, distributors, utilities, green banks and state governments. So NEIF also provides financing for commercial energy improvements. That’s through its NEIF Commercial Energy Finance division and advance funding to contractors. Finally, funding for rebates through its Rebate Bridge program.
Source: National Energy Improvement Fund, LLC (NEIF)