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 in most places. Applicants who pay their utility bills regularly may be eligible for a loan even with a less-than-perfect credit score.

How it works

1. Apply for a loan.
2. Work with your contractor to finalize project cost.
3. Sign your loan documents electronically.
4. Begin your project! Make sure work is completed to your satisfaction.
5. Authorize final payment to your contractor once your project is completed.
6. Make loan payments through your utility bill.

 

Energy Trust of Oregon Programs*

Savings within Reach**

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

Rates & Terms

Loan Amount	Up to $7,500
Interest Rate	6.49% (6.49% APR)
Term	Up to 10 years
Loan Fee	None
Recording Fee	None
Utility	NW Natural, Pacific Power, PGE
Example	$5,000 loan at 6.49% APR 120 payments of $56.75 per month

Heat Pump Upgrade

Rates & Terms

Loan Amount	$2,500 - $10,000
Interest Rate	6.49% (7.15% APR)
Term	Up to 10 years
Loan Fee	$195
Recording Fee	$100
Utility	Pacific Power, PGE
Example	$10,000 loan at 7.15% APR 120 payments of $113.81 per month

Community Energy Project, formerly Enhabit*

Rates & Terms

Loan Amount	$2,500 - $30,000
Interest Rate	6.49% (6.80% APR)
Term	Up to 15 years
Loan Fee	$195
Recording Fee	$100
Utility	NW Natural, Pacific Power, PGE
Example	$15,000 loan at 6.80% APR 180 payments of $130.95 per month

*APR, Annual Percentage Rate. Loan availability, terms and conditions current as of 02/15/19 and are subject to change. All loan applications are subject to credit and project approval. Applicants must be a customer of a listed participating utility. Loans are secured by a UCC-1A filing recorded with the county. Subordination may be available with lender approval, fees may. Principal balance and interest is due on sale, transfer, refinance or maturity. Examples include financing of Loan Fee and Recording Fee.

**Maximum loan amount varies from $5,000 to $7,500 and is determined by the number of upgrades installed that qualify for Energy Trust incentives. Visit www.EnergyTrust.org/SavingsWithinReach for income guidelines and incentive eligibility.