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Finance Vendor Details

Residential Energy Efficiency Loan (REEL) by Desert Valleys Federal Credit Union
Lender: Desert Valleys Federal Credit Union
Contact Information
Website: www.desertvalleys.org
Phone: (866) 743-6480
Email: info@desertvalleys.org
Property Types
Program Description
The Residential Energy Efficiency Loan (REEL) is offered through Desert Valleys Federal 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 in portions of Kern (Boron, California City, Kernville, Lake Isabella, Ridgecrest), San Bernardino (Trona) and Inyo (Big Pine, Bishop, Independence, Lone Pine) counties. 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 Desert Valleys Federal 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 in portions of Kern (Boron, California City, Kernville, Lake Isabella, Ridgecrest), San Bernardino (Trona) and Inyo (Big Pine, Bishop, Independence, Lone Pine) counties. 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 Desert Valleys Federal 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 in portions of Kern (Boron, California City, Kernville, Lake Isabella, Ridgecrest), San Bernardino (Trona) and Inyo (Big Pine, Bishop, Independence, Lone Pine) counties. 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 Desert Valleys Federal 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 in portions of Kern (Boron, California City, Kernville, Lake Isabella, Ridgecrest), San Bernardino (Trona) and Inyo (Big Pine, Bishop, Independence, Lone Pine) counties. 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: 8/14/2017
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 loanUnsecured loan
Re-Payment Method Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available YesYesYes
Requires utility incentive program participation NoNoNo
Must use Program's pre-approved contractors YesYesYes
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $2,500 - $50,000$2,500 - $50,000$2,500 - $50,000
Financing Term (yrs.) 1 - 5 year(s)1 - 5 year(s)1 - 5 year(s)
Rate 7.5 - 7.5%6.5 - 6.5%4.5 - 4.5%
Money Down Required? NoNoNo
Credit Enhancement Available Yes - OtherYes - OtherYes - Other
Transferrable NoNoNo
Prepayment Penalty or Fee NoNoNo
Tax Deductibility NoNoNo
Minimum Credit Score Required
Equity in Property Required NoNoNo
Debt to Income Ratio Required YesYesYes
Involuntary Property Liens Allowed YesYesYes
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement NoNoNo
Must be current on property taxes NoNoNo
Must be current on mortgage NoNoNo
Loan to value
Debt Service Coverage Ratio NoNoNo
Financing Approval Time Within 24 hours - PreliminaryWithin 24 hours - PreliminaryWithin 24 hours - Preliminary
Projected Energy Savings/Cash Flow is considered NoNoNo
Must be current on utility bill NoNoNo
Lien type Unsecured loan
Re-Payment Method Off-bill loan (Direct to Lender)
Property Types
Automatic payment option available Yes
Requires utility incentive program participation No
Must use Program's pre-approved contractors Yes
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $2,500 - $50,000
Financing Term (yrs.) 1 - 5 year(s)
Rate 5.5 - 5.5%
Money Down Required? No
Credit Enhancement Available Yes - Other
Transferrable No
Prepayment Penalty or Fee No
Tax Deductibility No
Minimum Credit Score Required
Equity in Property Required No
Debt to Income Ratio Required Yes
Involuntary Property Liens Allowed Yes
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement No
Must be current on property taxes No
Must be current on mortgage No
Loan to value
Debt Service Coverage Ratio No
Financing Approval Time Within 24 hours - Preliminary
Projected Energy Savings/Cash Flow is considered No
Must be current on utility bill No

Upgrades Covered

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