The Montgomery County Green Bank has partnered with Clean Energy Credit Union and NASA Federal Credit Union to offer you a preferred interest rate not generally offered to the public.

 

Financing Type

NASA FCU

Clean Energy CU

Unsecured consumer loan Unsecured green loan or
UCC-1 secured loan (where equipment is being purchased)
Financing Amounts Minimum: $3,000
Maximum: $35,000
Term Term 24 months up to 144 months (2-12 years)
Financing Rates Rates vary by Clean Energy Advantage Program Participating Lender and are based on several factors, including applicant’s credit, size of loan, term, and market conditions, whether the loan can be secured (with a UCC-1 filing) or not, and whether auto-debit repayment is used.
Both Participating Lenders provide the homeowner applicant with an interest rate after they have underwritten the applicant’s credit, term, and loan amount requested.
However, indicative rates provided by each lender for an applicant with the best credit and utilizing auto-debit repayment are only available by applying for a loan by clicking on the lender’s link below. Rates could be as low as:

NASA FCU

Clean Energy CU

Maximum Term Minimum Loan Amount APR as low as For all unsecured loans:
6.74% (for 3 years) to
7.74% (for 5 years)
For HVAC loans, solar PV loans, geothermal system loans, and green home improvement loans (secured by equipment):
3.00%-5.99% (for 3-10 years)
5.00%-6.99% (for 10-15 years)
60 months $3K 6.49%
84 months $20K 6.74%
120 months $20K 7.50%
144 months $30K 8.00%
Underwriting Criteria Each lender will underwrite an applicant according to its own underwriting criteria. Generally, both lenders will consider homeowners whose credit scores are 640 and above.
Both lenders will require that the homeowner provide them with certain documents to assist them with their underwriting of the loan.
Loan Decisioning Both lenders have indicated that they will make their lending decision within three business days.
Other Requirements Both NASA FCU and Clean Energy CU require that a homeowner become a member of their credit union. See Credit Union Membership section below.
Receipt of Payment

NASA FCU

Clean Energy CU

Disburses loan proceeds to homeowner once the Authorized Contractor performing the work has provided to the Green Bank a completion certificate signed by the homeowner; homeowner pays contractor. Disburses loan proceeds directly to contractor once the Authorized Contractor performing the work has provided to the Green Bank a completion certificate and any other documents required by Clean Energy CU.

To help you assess the potential monthly payment amount using various interest rates, loan terms, and your loan amounts, we offer a model  financial estimator below to provide you with estimates. You can enter any interest rate or term that you want to test.  The results are indicative and are not the actual loan payment amounts which will be determined by the lender and you after you complete your loan application with your selected lender.