Not Since Early 2011...
Beginning March 31, 2014, Nebraskans will be able to finance eligible home improvements with a 2.5% Dollar and Energy Saving Loan from Nebraska lenders. Interest rates for home improvements haven't been this low since a brief seven month period in late 2010 and early 2011.
Just in time for spring and summer home improvement projects such as replacing air conditioners, doors, windows, furnaces, heat pumps and adding attic or sidewall insulation can be financed. A full list of eligible prequalified improvements can be found on the simple loan application forms. Maximum loan amounts for loan categories and interest rates can also be found at the Energy Office website.
The loan application process is reasonably straightforward: Decide on your improvements, get at least one bid, complete the appropriate application, and take the application and the bid you select to a lender. From that point on, the lender will assist you and will notify you when your loan application has been approved by the Energy Office. One thing to remember: If a project is started prior to the lender receiving the Energy Office's approval, the project cannot be financed with a Dollar and Energy Saving Loan.
Eligible Nebraska lenders can be found at the Energy Office's loan page. Not all lenders may be offering 2.5% loans, but do have the option of offering loans at 3.5% and 5% interest rates. More than 275 lenders at nearly 900 locations are eligible to offer Dollar and Energy Saving Loans. Potential borrowers are encouraged to contact lenders with whom they are currently doing business to see if they are eligible and offering Dollar and Energy Saving Loans.
Nebraska Public Power District Customers: 1.5% Loans for Heat Pumps and More
Also beginning March 31, 2014, Nebraska Public Power District customers and residential customers of its wholesale cities and utilities will be able to finance air source or ground source heat pumps with 1.5% Dollar and Energy Saving Loans.
Qualifying thermostats, back-up electric, or 95% AFUE or higher natural gas or propane furnaces, and any other work required for the proper installation of the equipment, such as installing , insulating, and sealing ductwork, electrical work, and drilling wells and loop fields for ground source heat pumps, may be included in the project costs.
Borrowers choosing the 1.5% Nebraska Public Power District loan do waive the right to receive a heat pump rebate offered as an option by the utility under their EnergyWise program.
A list of Nebraska Public Power District's wholesale cities and utilities whose customers are eligible for the 1.5% loans can be found at the Energy Office website.
Questions about loans can be directed to firstname.lastname@example.org.