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Finance Vendor Details

Residential Energy Efficiency Loan (REEL) by California Coast
Lender: California Coast Credit Union
Contact Information
Website: www.CalCoastCU.org
Phone: (858) 495-1637
Email: energy@calcoastcu.org
Property Types
Program Description
The Residential Energy Efficiency Loan (REEL) is offered through California Coast Credit Union, a CHEEF Participating Lender. It offers financing to pay for eligible energy efficiency projects to qualified single-family and 1-4 unit residential customers throughout California. Up to 30% of the loan can be used to pay for other home improvements, such as water-saving projects and remodeling.
The Residential Energy Efficiency Loan (REEL) is offered through California Coast Credit Union, a CHEEF Participating Lender. It offers financing to pay for eligible energy efficiency projects to qualified single-family and 1-4 unit residential customers throughout California. Up to 30% of the loan can be used to pay for other home improvements, such as water-saving projects and remodeling.
Verified by Lender on: 7/11/2017
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Unsecured
Financing & Payment Information
Term (years):
1 - 5
Minimum Amount:
$2,500
Maximum Amount:
$50,000
Fees:
None
Money Down Required:
No
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Demand Response projects
Funds other energy projects
Funds other energy-related projects
Funds other non-energy projects
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Within 24 hours - Preliminary
Equity in Property Needed
No

Financial Products

Lien type Unsecured loanUnsecured loan
Re-Payment Method Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available YesYes
Requires utility incentive program participation NoNo
Must use Program's pre-approved contractors YesYes
One-time fees (% of total financing) NoNo
One-time fees (fixed) NoNo
Ongoing fees 0No
Financing Amount $2,500 - $50,000$2,500 - $50,000
Financing Term (yrs.) 1 - 5 year(s)1 - 5 year(s)
Rate 7.88 - 7.88%6.38 - 7.88%
Money Down Required? NoNo
Credit Enhancement Available Yes - OtherYes - Other
Transferrable NoNo
Prepayment Penalty or Fee NoNo
Tax Deductibility NoNo
Minimum Credit Score Required Yes: 600Yes: 600
Equity in Property Required NoNo
Debt to Income Ratio Required YesYes
Involuntary Property Liens Allowed YesYes
Foreclosures Allowed Yes: Yes (occurred more than 7 years ago)Yes: Yes (occurred more than 7 years ago)
Bankruptcies Allowed Yes: Yes (occurred more than 7 years ago)Yes: Yes (occurred more than 7 years ago)
Mortgage Lender Consent/ Acknowledgement NoNo
Must be current on property taxes NoNo
Must be current on mortgage NoNo
Loan to value Yes: 0%Yes: 0%
Debt Service Coverage Ratio NoNo
Financing Approval Time Within 24 hours - PreliminaryWithin 24 hours - Preliminary
Projected Energy Savings/Cash Flow is considered NoNo
Must be current on utility bill NoNo

Upgrades Covered

No Results

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