Texas: EFS Texas Loan Program
| Loan Features | Current Interest Rates |
| Eligible Measures | How to Apply |
Energy Finance Solutions is currently offering a financing program for Texas homeowners. Homeowners may finance a number of energy efficient measures such as heating and cooling equipment, insulation, windows and doors, and many more.
Loan Features
Key features of an EFS loan:
What if your contractor is not approved?
- Residential owner-occupied single-family and duplex homes
- Unsecured loan (homeowner provides no collateral)
- Borrowers can finance $2,500 - $20,000
- Fixed rate loan terms available: 3, 5, 7 and 10 years
- No fees, points, or closing costs
- No prepayment penalty
- Can finance 100% of installation costs
- Quick approval process - usually 30 minutes or less
- Approved contractors only
Please advise your contractor to visit our Contractor Participation page to find information on how to become approved.
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Current Interest Rates
Credit Score Interest Rate Annual Percentage Rate (APR) 640 - 679 16.99% 16.99% 680 - 719 16.25% 16.25% 720+ 14.99% 14.99% Note: Rates subject to change weekly.
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Eligible Measures
EFS' Energy Loan is designed to promote the installation of high efficiency measures, making your home more energy efficient. Therefore, all measures to be installed must meet minimum efficiency requirements to be eligible for financing. The following list provides you with the efficiency requirements of all measures eligible for financing. In addition, any measure type from this list that meets ENERGY STAR® standards qualifies for financing.
A) Heating Systems
Any costs associated with the installation of the measures listed below (such as duct work, grills, diffusers, chimney liners, air cleaners, furnace humidifiers, thermostats, and service contracts or warranties) are also eligible for financing.When fuel switching to natural gas, any associated costs (such as gas main extensions, service laterals, and piping, or removal of existing oil tank) are eligible for financing if high efficiency heating system is installed.
When a heating system is replaced, asbestos abatement or electrical service upgrade necessary to install the new heating unit may be financed.
Heating System Type Minimum Efficiency Requirements Furnace: Natural Gas or LP AFUE 80% Furnace: Fuel Oil AFUE 82% Boiler - Mobil Manufactured Home AFUE 80% Boiler AFUE 80% Ground Source Heat Pump EER of 11.0 at 95°F and 2.0 COP at 35°F
B) Cooling Systems
When a central air conditioner is installed, any electrical work or electrical service upgrade necessary to install the new unit may be financed.The cost of a service contract or warranty also qualifies for financing.
Cooling System Type Minimum Efficiency Requirements Central Air Conditioner/Heat Pump 12.0 SEER
C) Water Heating Systems
Any costs associated with the installation of a water heater (such as a chimney liner, electric work, or service contracts or warranties) are eligible for financing.When fuel switching to natural gas, any associated costs (such as gas main extensions, service laterals, and piping) are eligible for financing if a qualifying water heater is installed.
Water Heating System Type Minimum Efficiency Requirements Natural Gas Water Heaters .58 EF Electric Water Heaters .90 EF
D) Building Shell
Any costs associated with the installation of the insulation, such as moisture barriers or attic venting, are eligible for financing. Blower door test and major air sealing are eligible for financing.
Building Shell Type Minimum Efficiency Requirements Attic Insulation As near as possible to R-38 Wall Insulation Fill to Capacity Sillbox Insulation R-11 to R-19 Basement Wall Insulation R-5 (exterior) or R-11 (interior) Crawl Space Insulation Fill between joist Replacement Windows Low E Glass, Double to triple pane
and Argon gas filled or Thermopane R-4Storm Windows and Doors All Units Roofing Installed according to local requirements Siding Installed according to local requirements
E) Appliances
Service contracts and warranties on the above appliances also qualify for financing.
Appliance Type Minimum Efficiency Requirements Refrigerator, Freezer, Clothes Washer, dishwasher ENERGY STAR qualified Heating Recovery Ventilator No minimum efficiency requirement Ventilation Fans Energy efficient bath fan
(<45 watts), centrally-ducted fan system,
or kitchen range hoodPhotovoltaic Solar Electric Systems Components UL listed, or if grid-connected, installed compliant with IEEE standard
installed in accordance with local and
national codes & standardsLight Fixtures ENERGY STAR compliant for compact fluorescent, or electronic ballast for
fluorescent tubesThermostats ENERGY STAR qualified
ADDITIONAL NOTES: regarding eligible measures and accessories.
For further information on these exciting new measures now available for financing give us a call at 1.800.969.9322.
- Any costs associated with the installation of the measures listed below such as are also eligible for financing.(Work such as duct work, grills, diffusers, chimney liners, air cleaners, furnace humidifiers, thermostats, moisture barriers, attic venting, and service contracts or warranties.)
- When fuel switching to natural gas, any associated costs (Such as gas main extensions, service laterals, and piping) are eligible for financing if a new heating system or water heater complying with the relevant Minimum Efficiency Requirement is installed.
- When a heating or cooling system is replaced, asbestos abatement or electrical service upgrade necessary to install the new heating unit may be included.
- Radon and lead abatement work is eligible of financing.
- The cost of removing an oil tank is eligible for financing when done in connection with a heating system replacement.
- Services associated with the above eligible improvements (Energy Rating, blower door test, energy audit, or construction management).
- Repairs to the home due to water damage, molds and mildew, ice dams or other symptoms of poor building performance, are eligible for financing up to a maximum of $2,000 per customer, as long as the causes of building performance-related damage are being addressed. Additional repairs that are critical to achieving energy efficiency may be approved for inclusion in the loan.
F) Other
Listed below are health and safety measure available for low interest rate financing. These measure can either be hard wired or battery operated.The measures below are available for financing through Fannie Mae at the current Fannie Mae interest rates. These measures are not eligible for the interest rate subsidy through EFS Texas Loan Program.
- Smoke detectors
- Radon detectors
- Carbon monoxide detectors
To qualify for the loan, 50% of the total improvements to be financed must be eligible energy efficient measures. The remaining 50% of the improvements may not include energy consuming products or equipment but may include the following:
- Sunrooms with a southern exposure
- Kitchen and bathroom remodeling
- Siding and roofing
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How to Apply
Before you select one of the four options below please download the document, " 6 Easy Steps". 6 Easy Steps is a simple step by step instruction guide designed to assist you through the loan process.
Please note: Any homeowner with a credit history involving a foreclosure, bankruptcy, or repossession in the past 7 years will be ineligible for this loan.
Below are four ways that you can apply for the Energy Efficiency Improvement Loan Program.
At any time throughout the application process you may call 1.888.264.4367 for assistance.
A) Print the application
Click here to download the credit application. Please note the credit application is not a contract for a loan nor does it lock you into any commitment with a contractor. The credit application will allow us to proceed with your request for a loan to finance your improvement(s).B) Request an application packet by mail
You may request an application packet by mail by calling 1.888.264.4367.C) Apply online
If you have an accepted bid from an approved contractor and are ready to submit a full application or you have already been pre-approved and would like to complete the application - you can fill out the credit application online.If you apply online, a loan representative will contact you within a few hours to inform you of the loan decision. You will also be notified by mail.
D) Credit pre-approval
You may call 1.888.264.4367 to get pre-approved over the phone or you can use the online pre-approval application.In order to fully process your loan, you will need to mail or fax the following information in addition to the Credit Application:
- Copy of contractor's bid for the eligible home improvements. (The bid needs to be signed by the contractor and homeowner, list the eligible improvements, and indicate the total cost.)
- If your loan is over $4,000, you may need to provide proof of income. (Recent paystub showing year to date income, or if self-employed, provide a copy of the most recent federal tax returns)
Submit to:
Energy Finance Solutions
431 Charmany Drive
Madison, WI 53719
Fax: 608.249.5788
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