UVA Community Credit Union, a local not-for-profit financial cooperative, has partnered with LEAP to provide the PowerSaver Loan Program, available to participants in LEAP’s Home Performance with ENERGY STAR program and Solarize Charlottesville .
The PowerSaver Loan program is designed to offer low cost loans to make energy-saving improvements for homeowners. This loan can be used for a wide variety of improvements including: replacement doors and windows, air conditioning or heating systems, water heaters, insulation, metal or asphalt roofs, air and duct sealing, solar panels, and geothermal systems. A complete list of approved projects can be found in the PowerSaver Approved Improvements list.
The PowerSaver Loan program offers many benefits not available through traditional loans:
- Obtain up to $35,000 for a single family home (manufactured and mobile homes are not eligible)
- Flexible payment terms up to 15 years
- Financing with the PowerSaver Loan also allows you to take advantage of any manufacturer product rebates and energy efficient federal, state or local government, or other agency tax incentives or rebates
- Loan is federally insured by the FHA
- Interest may be tax deductible
- Low fixed rates
Rates are as low as 5.50% APR* for unsecured loans for up $10,000 and rates as low as 3.99% APR* for secured loans for up to $35,000.
Applications can be made by calling 434-964-2001 option 3, at a UVA Community Credit Union branch location or online . Combine this great financing provided by the credit union
with cash rebates to save big on your energy retrofit.
Note: You must have at least 50% ownership in your home, and it must be your primary residence to qualify for a PowerSaver loan.
Limited Time 0% PowerSaver Loans with LEAP
PowerSaver Loan rates are already low, but LEAP is taking them even lower through their PowerSaver Loan Interest Rate Reduction Program for City of Charlottesville homeowners. This program is made possible through a grant from the City of Charlottesville.
For a limited time, LEAP will buy down City of Charlottesville homeowners’ interest rates to as low as 0.0%APR 1 on select PowerSaver Loans to help finance the purchase of photovoltaic solar panels purchased and installed by a Solarize Charlottesville campaign participating contractor — making investments in renewable energy improvements even more affordable.
*APR=Annual Percentage Rate. PowerSaver Loan financing provided by UVA Community Credit Union. Rate effective 05 and is subject to change without notice. Call the credit union for updates. Not all PowerSaver Loan Program terms are available for the Interest Rate Reduction Program. To be eligible for the 0%APR option, applicant must apply and be approved by the Local Energy Alliance Program (LEAP) for their Interest Rate Reduction Program. Loan approval subject to credit and credit union membership criteria. Property and other restrictions apply. For more information or to apply call 434-964-2001 or go to www.uvacredituion.org. UVA Community Credit Union is federally insured by the National Credit Union Administration. Equal Housing Lender.Source: leap-va.org