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Energy-Efficiency Loans

The Energy-Efficiency Loan Program is offered by Valley Oak Credit Union a Participating Lender in the GoGreen Home Energy Financing Program.

Program Description

The Energy-Efficiency Loan Program is offered through Valley Oak Credit Union, a GoGreen Home Lender. The Energy-Efficiency Loan Program offers an unsecured no-fee loan to pay for eligible energy-efficiency and demand response projects for qualified single-family residential customers in Tulare and Madera Counties. Up to 30% of the loan can be used to pay for other, non-energy-efficiency home improvements, such as water-saving projects and remodeling! For more information about the GoGreen program, visit GoGreen Financing.

Benefits

  • No lien on your property
  • Competitive rates and affordable payments
  • No money down, no closing costs and no prepayment penalties
  • Borrowers with a wide range of credit scores may qualify
  • Use up to 30% of loan amount toward non-energy-efficiency improvements

Availability

Madera and Tulare Counties

Miscellaneous Information

The property must receive gas and/or electric service from either Pacific Gas & Electric, SoCal Gas and/or Southern California Edison. Solar and other renewable energy-efficiency projects can not be financed. 

Rates Effective March 1, 2024  | 90-day Payment Deferment Available*

RATE* (APR)
FICO Rate
760+ 5.62%
700-759 6.12%
680-699 6.62%
650-679 7.12%
590-649 8.12%
TERM & AMOUNT
Term (years) Min $ Max $
1 - 5 $1,500 $50,000
6 - 10 $10,000 $50,000
11 - 15 $25,000 $50,000
FEES
Fee Type Amount
Membership Fee (one time) $5

Apply for an Energy Efficiency Loan

*The maximum interest rate is capped at the 10-year treasury rate, which varies, plus 7.5%. As of January 3, 2022 the 10-Year Treasury Rate was 1.63% resulting in a maximum rate of 9.13%

Borrower Requirements

  • Must live, work, or attend school in Tulare or Madera County
  • Must join credit union prior to funding
  • Minimum 580 credit score
  • No foreclosures or bankruptcies within the past year
  • Income verification required
  • Equity in property is not required

Property Requirements

  • Single family residential properties
  • Must receive gas and/or electric service from either Pacific Gas & Electric, SoCal Gas and/or Southern California Edison

Project Requirements

  • 70% of the loan must be for Eligible Energy-Efficiency Measures (EEEMs). Click here for a list of eligible measures. Other alterations necessary to complete the project may be included in the 70%.
  • The remaining 30% of the loan may finance other home improvements including general remodeling, water-efficiency and demand response projects.

Documents Needed For Lender

  • Certificate of Completion
  • Final Itemized Invoice
  • Current utility bill
     

Apply for an Energy Efficiency Loan

*The maximum interest rate is capped at the 10-year treasury rate, which varies, plus 7.5%. As of July 1, 2020, the 10-year treasury rate 10.62% making the maximum interest rate 8.12%.  Rates and terms are subject to change.

The accuracy of our calculators and their applicability to your circumstances are not guaranteed. You should consult with a qualified professional regarding your particular circumstances.