Secured
Finance Vendor Details
Greenstreet Lending HELOC
Lender:
Umpqua Bank
Contact Information
Property Types
Program Description
Umpqua Bank offers a GreenStreet Lending Home Equity Line of Credit (HELOC) that helps homeowners put their home's equity to an energy-smart use by financing energy efficiency projects and renewable energy systems. With a HELOC, the customer is “pre-approved” for a maximum amount of financing and may draw down on that credit line over a period of time. The GreenStreet HELOC allows a 10 year draw period, while repayment is over 20 years, giving the HELOC a total 30-year term. In addition, there is an optional lock-in feature to convert all or part of the balance from a variable rate loan to a fixed rate term loan.
Verified by Lender on: 8/24/2015
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Financing & Payment Information
Term (years):
5 - 30
Minimum Amount:
$5,000
Maximum Amount:
$150,000
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 Renewable Energy projects
Funds other energy projects
Funds other energy-related projects
Funds other non-energy projects
Other Program Requirements
Financing Approval Time
24-48 hours
Equity in Property Needed
No
Financial Products
Lien type | Secured 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 | No |
One-time fees (% of total financing) | No |
One-time fees (fixed) | No |
Ongoing fees | No |
Financing Amount | $5,000 - $150,000 |
Financing Term (yrs.) | 5 - 30 year(s) |
Rate | Market Rate |
Money Down Required? | No |
Credit Enhancement Available | No |
Transferrable | No |
Prepayment Penalty or Fee | No |
Tax Deductibility | Yes |
Minimum Credit Score Required | No |
Equity in Property Required | Yes |
Debt to Income Ratio Required | Yes |
Involuntary Property Liens Allowed | No |
Foreclosures Allowed | Yes: Yes (occurred more than 7 years ago) |
Bankruptcies Allowed | Yes: Yes (occurred more than 7 years ago) |
Mortgage Lender Consent/ Acknowledgement | No |
Must be current on property taxes | No |
Must be current on mortgage | Yes |
Loan to value | Yes: 0.8% |
Debt Service Coverage Ratio | Yes: 0 |
Financing Approval Time | 24-48 hours |
Projected Energy Savings/Cash Flow is considered | No |
Must be current on utility bill | No |
Upgrades Covered
No Results
FAQ's
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