(CHIF) Home Energy Solutions Loan Program

Program (CHIF) Home Energy Solutions Loan Program
Category Financial Incentive
Implementing sector State
Last Update
State Connecticut
Website http://www.chif.org/page/borrower-information-and-application
Sectors Residential

Connecticut Housing Investment Fund (CHIF) in partnership with the electric and gas utilities offers variety of low interest loans to finance energy efficiency upgrades. The program offers On-Bill Repayment financing, where the loan amount can be paid through a surcharge on the monthly electricity bill. The loans are not transferable, and there currently is no collateral requirement. 

Eligibility

Customers of Eversource (formerly CL&P) and United Illuminating are eligible for the program. Applicants must own a single or two-family home (including condos and vacation homes). 

Applicants can choose from 3 types loan options:

1.  Energy Efficiency Payment Plan: This option provides 0% APR financing for amounts $1,000 to $3,000 for a period of 36 months. To be eligible the applicant has to participate in the Home Energy Solutions program.

2.  Comprehensive Energy Efficiency Project Loan: The option provides low interest 2.99% APR financing for amounts $3,000 - $25,000 for a period of 120 months. To be eligible the applicant has to participate in the Home Energy Solutions Program. This option is available only to Eversource electric customers. 

3.  Other Projects: Applicants who do not choose to participate in the Home Energy Solutions program have the option to finance energy improvements in their home through this program. Loan amounts from $3,000 -$25,000 with a varied interest rates, and payment terms are available under this program. 

Please visit the CHIF website for more information about the program. 


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