Unsecured
Finance Vendor Details
Residential Energy Efficiency Loan (REEL) Program by Matadors
Lender:
Matadors Community Credit Union
Contact Information
Property Types
Program Description
The Residential Energy Efficiency Loan (REEL) Program is offered through Matadors Community Credit Union, a CHEEF Participating Lender. It offers financing to pay for eligible energy efficiency projects to qualified single-family 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: 9/12/2016
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
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 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 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) | No |
| One-time fees (fixed) | No |
| Ongoing fees | No |
| Financing Amount | $2,500 - $50,000 |
| Financing Term (yrs.) | 5 year(s) |
| Rate | 5.99 - 5.99% |
| Money Down Required? | No |
| Credit Enhancement Available | Yes - Lower APR |
| Transferrable | No |
| Prepayment Penalty or Fee | No |
| Tax Deductibility | No |
| Minimum Credit Score Required | Yes: 640 |
| Equity in Property Required | No |
| 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% |
| Debt Service Coverage Ratio | Yes: 0 |
| Financing Approval Time | Within 24 hours - Preliminary |
| 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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