Eligible properties are single-family residences of 1 to 4 units. This includes single family homes, condos, townhouses, duplexes, triplexes, fourplexes, manufactured and mobile homes. Manufactured and mobile homes are eligible if the home is anchored to a permanent, site-built foundation constructed of durable materials, like concrete, mortared masonry, or wood). Note that some lenders will finance up to four units, while others finance only a single residential unit.
You can finance any measure that is listed on the GoGreen Home Eligible Energy Efficiency Measures+ list, as long as it meets the minimum efficiency requirements listed. Following are some examples of eligible energy improvement projects.
Contractors must be GoGreen Home participating contractors; however, it’s easy for licensed contractors to become GoGreen Home participating contractors. GoGreen Home participating contractors take a 1-hour, online training and submit a simple application to get approved. If you have a contractor you would like to work with, but they are not currently a GoGreen Home participating contractor, ask them to visit the contractor resources page to enroll.
Check our list of licensed contractors. You are always encouraged to do your own research and due diligence when selecting a contractor. You can look up information on a contractor through the Contractors State License Board (CSLB)+. Websites that review contractors include Better Business Bureau (BBB)+, Yelp+ and Angie’s List+.
Yes. If you currently have a PACE loan and would like to do additional energy efficiency projects, you can also apply for GoGreen Home Energy Financing, or vice versa. However, the lender will look at your total debt-to-income ratio when making a decision. Also, both loans cannot finance the same project.
If the project cost increases due to unforeseeable circumstances, will my lender allow me to increase the loan amount?
Generally, yes. The loan amount can increase to accommodate the new project costs if you still qualify for the new loan amount based on your credit profile. The new loan amount must not exceed the maximum ($50,000) allowed in GoGreen Home, and the project must still meet program eligibility requirements. Contact your lender if you foresee the need to increase your loan amount.
Most GoGreen Home approved lenders provide online loan applications so the preapproval time can vary from instantly to within 24 hours. Refer to the find financing page for more details.
Our current lenders are offering GoGreen Home financing with no origination or closing fees. Some lenders may have a small one-time membership fee ($5-$20) to join the credit union. Future lenders may have product offerings that differ.
Interest rates vary between lenders and are based on the borrower’s credit history. However, the maximum interest rate for loans under GoGreen Home will not exceed the interest rate on new 10-year treasury bonds+, plus 750 basis points (which is equal to 7.5%) For example, if the interest rate on the new 10-year treasury bond is 3%, the maximum interest rate under GoGreen Home could not exceed 10.5% (3% + 7.5%).
- The maximum loan amount you can borrow will depend on your credit score, income and credit history. GoGreen Home loan maximums are described below, but contact a GoGreen Home approved lender to determine how much you can borrow. Eligible loans can be made for up to $50,000 per residential unit.
- For borrowers who do not have a FICO score, the maximum loan amount is $35,000, provided they do not have any unexplained derogatory credit marks in their report