Home Energy Loans

Home Energy Loans in Oregon

Craft3’s Home Energy Loan offers low fixed rates and low monthly payments, and convenient utility-bill repayment. Applicants who pay their utility bills regularly may be eligible for a loan even with a less-than-perfect credit score.

Eligible Locations

Available to homeowners throughout Oregon

How it works

1. Apply for a loan
2. Work with a program approved contractor to finalize a bid for eligible projects
3. Sign your loan documents electronically
4. Up to 50% of the loan amount is available up-front to contractors
5. Once work is complete, we pay your contractor the remaining balance
6. Repay your loan through your primary heat source utility bill

NOTE: Rates will change for loan applications received on or after February 15, 2019. Current published terms apply to applications received prior to February 15.

Available Programs

Energy Trust of Oregon

Savings within Reach

Serving residential customers of PGE, NW Natural and Pacific Power.

Allowable Upgrades and Maximum Loan Amounts - maximum loan amount is determined by which Energy Trust eligible measures are performed

Up to $5,000	Up to $6,000	Up to $7,500
Attic, wall or floor installation	ductless heat pump	any combination of upgrades that are eligible for Energy Trust incentives
Heat pump water heater	gas furnace
Gas tank water heater	ducted heat pump
Windows

Example Costs

Loan Amount	Up to $2,000	$2,001 - $7,500
Example	$1,500 loan $29 per month	$6,000 loan $67 per month
Interest Rate	5.99% rate/APR*	5.99% rate/APR*
Term**	Up to 5 years	Up to 10 years
Fee	None	None
Security	UCC1-A (loan secured with your home)

Heat Pump Upgrade

Serving residential customers of PGE and Pacific Power.

Example Costs

Loan Amount	$2,500 - $7,500	$7,501 - $10,000
Example	$6,175 loan*** $92 per month	$10,175 loan*** $116 per month
Interest Rate	6.49% (7.39% APR*)	6.49% (6.89% APR*)
Term**	Up to 7 years	Up to 10 years
Fee	$175	$175
Security	UCC1-A (loan secured with your home)

Community Energy Project, formerly Enhabit

Serving residential customers of PGE, NW Natural and Pacific Power.

Example Costs

Loan Amount	$2,500 - $7,500	$7,501 - $30,000
Example	$6,100 loan*** $90 per month	$15,200 loan*** $129 per month
Interest Rate	5.99% (6.51% APR)*	5.99% (6.21% APR)*
Term**	Up to 7 years	Up to 15 years
Fee	$100	$200
Security	UCC1-A (loan secured with your home)

*Annual Percentage Rate **No early repayment penalty ***Total loan amount includes loan fee

Project eligibility is determined by Energy Trust and Community Energy Project. Loan terms are available for owner-occupied single family homes. Manufactured homes with land ownership are eligible for Energy Trust offers. Condominiums and townhouses are eligible for the Heat Pump Upgrade offer only. Availability, terms and conditions are current as of 9/1/17 and are subject to change without notice. Not all applicants will qualify.