What’s the process to apply for an energy loan?

You may feel intimidated by the process of applying for an energy loan, but it’s surprisingly easy. And at Elevations, we’re here to support you every step of the way. Home energy loans can be used for projects big or small; the minimum amount Elevations will finance for a home energy loan is $500. These four steps will help you go green with solar panels or new energy-efficient windows and much more.

Define the project

To get started, you’ll want to identify your local energy loan program and seek project approval. Our participating energy loan partners are Boulder County’s Energy Smart Program, HELP Loans for City of Fort Collins Utilities Customers and Colorado Residential Energy Upgrade (RENU) Loans. Your energy advisor will help you identify available rebates and financial incentives, plus connect you with a participating contractor. Learn more about which projects qualify for a home energy loan on our blog.

Submit your application

You can then complete our energy loan application. Once your application is submitted, our team will review it and reach out to you in 1-2 business days. From there, you’ll receive emails letting you know where you are in the process. If you have any questions throughout the process, feel free to call us at 800.429.7626.

Gather your supporting information

Once your application is pending approval, we will reach out for the following information:

  • Verification of Income
    • W2 Employee – most recent paystub
    • Self-Employed – most recent year’s tax return
    • Retired/Other – most recent monthly income statement
  • Project approval through your participating energy loan program

We will send you an email with a link to securely upload these documents. The email will also include the preliminary terms of your energy loan, including rate, term, payment and fees.

Get started on your project

Once your loan is approved by Elevations and the participating energy loan program, we’ll contact you with the next steps.

Typically, you will schedule and complete the project with your authorized contractor and email the final invoice to Elevations when the project is completed. You will also need to review and sign loan closing documents; these documents will be emailed to you securely, and you may opt to schedule a closing at one of our branches.

On our end, an Elevations Loan Processor will contact you to establish your membership account at Elevations before closing if you don’t already have one, and Elevations will pay your contractor directly.

If you have any questions, please give us a call at 800.429.7626. We look forward to helping you save money and care for this beautiful place we call home with an Elevations Energy Loan.

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