Energy Fix-Up Loan

The Energy Fix-Up Loan makes key energy system improvements possible at a low interest rate.

*NEC has merged with the Center for Energy and Environment. Bookmark our new home for lending at mnlendingcenter.org. Please note that later this summer this webpage will no longer be available.*

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Furnace Financing | AC Loan | Water Heater Financing | Insulation Financing

The Energy Fix-Up Loan makes key energy system improvements possible at a low interest rate. Install a new boiler or furnace, add insulation, replace your central air, or update your water heater or light fixtures. Minimum energy efficiency performance standards apply to the items financed (see below for details).

Projects that are in progress, were completed within 120 days of the loan closing, and/or materials were purchased within 120 days prior to the loan closing can be included.

The Energy Fix-Up Loan is a program of the Minnesota Housing Finance Agency. All the forms you need are available at the bottom of this page.

Loan Terms

Borrower's Gross Household Income Limit: No income limit.

Loan Amount: $2,000 - $15,000

Interest Rate: 4.99% Fixed

Term: Loan repayment terms vary from 1 to 20 years, depending on the amount financed

Minimum Credit Score: 680 (620 for secured)

Debt to Income: 48%

Costs: $65 flat for unsecured.
Secured: 1% origination fee, recording fee, $15 credit report fee and $25 title fee.

Energy Efficiency Requirements: See list below.

 

Finance one or more of these improvements:

Insulation

  • Wall cavities must be filled with insulation
  • Attic final R-Value >= R44
  • Attic air sealing is a prerequisite for insulation. It is recommended that blower door testing is conducted both prior to and after installation to measure air sealing effectiveness.

Heating Systems

  • Natural gas or propane furnace: AFUE >= 95
  • Oil furnace: AFUE >= 90
  • Natural gas, propane, or oil hot water boiler: AFUE >= 90

Central Air Conditioning Replacement

  • Package systems: SEER >= 14, EER >= 12
  • Split systems: SEER >= 15, EER >= 13

Water Heater Replacement

  • Gas storage units >= 0.67 Energy Factor (EF)
  • Gas tankless units >= 0.82 EF with 2.5 gpm @ 77 degree Fahrenheit rise

Light Fixtures

  • Must be ENERGY STAR qualified

Replacement Windows

  • Must be ENERGY STAR qualified

Projects that are in progress, were completed within 120 days of the loan closing, and/or materials were purchased within 120 days prior to the loan closing can be included.

Click here to apply for a loan

Send an email or call LeAnne at 651.789.5706 and make your home improvements happen!

If you have a paper application mail it to:
LeAnne Karras
Center for Energy and Environment
1754 University Avenue West
Saint Paul, MN 55104

Please do not fax your application.