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Finance Vendor Details

Residential Energy Efficiency Loan (REEL) Program by Matadors
Lender: Matadors Community Credit Union
Contact Information
Website: www.matadors.org
Phone: (818) 993-6328
Email: energy@matadors.org
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
Unsecured
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

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