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Energy Loans
| Matadors Energy Loans (CAEATFA State-Wide Program) |
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| Contractor Requirements | EE and solar projects must be installed by an EUC Participating Contractor that is BPI certified. For BPI certified contractors that would like information on how to participate in the EUC program, please click here. |
| Types of Upgrades |
Energy Efficiency (EE) and Solar |
| Types of Loans | No equity needed (A UCC-1 lien will be required) |
| Rates |
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| Terms |
5 to 15 years |
| Max Loan Amount | $50,000. Loan can’t be more than 10% of the value of the home (online value). |
| FICO Minimum |
660 |
| DTI Maximum | 50% |
| Property Types |
Owner-occupied, single family |
| Projects Allowed | EE projects must be listed on the pre-work and post-work energy assessment.
Solar projects must be installed concurrently or after the installation of EE measures and enrolled in the California Solar Initiative (CSI). |
| Application Submission | Online application can be submitted 24/7 through our website. You can also email a paper application to loans@matadors.org. Supporting documentation such as proof of income can also be emailed. |
| Closing Costs | None |
| Other Requirements | Test-out must be performed by an independent third-party assessor who is a HERS Whole House Rater or a BPI Building Analyst. Upon final HERS II or BPI post-assessment complete, Contractor to submit: - Pre and post energy assessment (ECON1/ECON2) showing a minimum 10% energy usage improvement - Eligible Improvements Specification Report (sample) - Certification of Completion (sample) - Final Invoice showing cost and EE/Solar projects installed (to be reflected on final assessment) |
| Timing | Loan Approval: One business day (working on instant online approval)
Loan Docs: Two business days from receiving above documents from the contractor and contacting the borrower(s) Payment: Check issued within one business day of receiving fully signed and complete loan docs |
| Geographic Boundaries | All of California (LA County properties are financed through a separate EUC LA program. |
| Contact | loans@matadors.org or (888) 993-6901 |
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