Energy Efficiency
Duke Energy Efficiency Rehabilitation Loan Products
Duke Energy Efficiency Rehabilitation Loan Products
What It Is
Duke Power’s Neighborhood Revitalization program awarded Self-Help $1 million dollars to fund projects that relate to increasing the energy efficiency of homes through such measures as ductwork, windows, insulation, HVAC (if electric), and roofing.
These funds allow us to offer a low fixed interest rate of 2%, which may be as low as 0% if combined with a first mortgage
Eligible Projects
To qualify for the loan the project must be located in the Duke Power Service Area and Neighborhood Revitalization areas. Loan officers at Self-Help will help you determine if your neighborhood is part of this program.
The ultimate use of the property must be home ownership, but rent-to-own properties and group homes may qualify. Projects may not already be receiving money from the NC Housing Finance Agency’s Duke Funded HELP program. For-profit or non-profit organizations are both eligible for participation. In addition, the funds can be used for the construction of new homes or the rehabilitation of existing properties.
Benefits and Requirements
There are no required minimum or maximum loan amounts. However, the fund is limited to energy efficiency projects, which often amount to $30,000 dollars per unit. Unless combined with other loans, the loan term will be five years.
Resources
Please contact Self-Help to find out more about how this product can assist you in improving the energy efficiency of your home.
