Our Energy Loan Process

Thinking of making energy upgrades to your home but need financing? Our energy loan is simple and affordable. Loans can be a little complicated and quite frankly, confusing. How will you know if you’re even able to get a loan? How much will it cost you in the future?

We have worked hard to keep things simple and to be here to help you along with the energy loan process. Below are the steps that are involved in our loan process – seven steps that may only take up to two weeks to complete!

Step 1: Energy Audit

The first step in getting an energy loan is having a comprehensive energy audit completed on your home (if you’ve already gotten one then go to step two below). Our BPI-certified energy auditors go over your whole home to see where you are losing heat, if insulation is adequate, if there are any health and safety concerns, and where you might be wasting energy. The cost will be around $150 and the whole process takes 2-4 hours. When they are finished they will sit down with you discuss what problems they found and the best way to fix them. Your HEAT Squad auditor can help you coordinate any projects and recommend local contractors.

HEAT Squad audit

Step 2: Pre-Qualification

The next step is to fill out our pre-qualification form. Download the form, print it and fill it out. You will then either email it to ttherrian@nwwvt.org or mail it to 110 Marble Street, West Rutland VT, 05777. You will hear back from the lender in about 2-4 business days.

Step 3: The Application

Once our lender has looked over your request, the lender will send you an application form that asks for more detailed information. If you have any questions about the application or you need assistance with it, we are happy to help, just contact our lender: ttherrian@nwwvt.org or (802) 747-8612 .


Step 4: Lender’s Reply

Once the lender has received and processed your application you will work give them the estimates you received from contractors regarding your project. If you have not asked any contractors for estimates or quotes, contact your HEAT Squad auditor and they can help you coordinate the project and refer some contractors to you who will give an estimate.

Step 5: Approval

Shortly after all documentation, applications, and quotes are received, you will be contacted by your lender to let you know you have been approved. If there are policy exceptions, a loan committee will look over your application and review it to decide if the policy exception can be approved. Your lender will keep you appraised of the process.

Step 6: Closing

Once your loan has been approved you will need to stop by the office for a loan-closing. This is a very simple and quick process that just involves signing a few things and meeting with the loan officer.

Installing heat pump


Step 7: Get It Done

This is where the magic happens! Your contractors have been working on your energy projects for a couple of weeks and you are ready for the auditor to come back to your home and perform a second audit, or “test out” to be sure the project went smoothly. Your test-out results will get sent to Efficiency Vermont so you can be eligible for any energy program rebates! After the test-out is completed, the remainder of the loan will be sent to you.

While this may seem like a lot of steps, this whole process may only take you a week or two! Each step has been explained so you see just how easy it is to have energy projects done on your home with the help of our energy loan!

The energy efficiency work you do on your home will allow you to live in an efficient, comfortable and healthy home while benefiting from reduced energy bills!


Contributing Author: Bailey Aines, part-time NWWVT employee.