financing
financing
easy process
Construction is expensive. That doesn’t mean that upfront costs must stop you from your dream. Applying is fast and easy. The total loan you may receive varies per lender but ranges from $5,000 to $250,000.
loan types
There are three major types of construction loans: secured loans, unsecured loans, and PACE loans. Secured or unsecured loans are credit-based, fixed payments for general construction or green energy services. PACE loans are non-credit based, fixed payments for green energy services that paid through the property tax.
advantages
Personal or PACE loan rates can rival traditional HELOCs (Home Equity Line of Credit). Rates vary per lender and may depend on your FICO score, debt-to-income, and more. While each plan varies, most financing options range anywhere from 5 to 30 years. Typically, the longer the term, the lower your monthly.
Energy-efficiency upgrades, such as HVAC, roofing, insulation, windows, or solar power, can help significantly reduce your utility bills. Those savings can then help offset your payments over time. Additionally, some of these products may offer significant tax credits and rebates, which can then be applied to the loan to lower your monthly payments.
rebates
The USA passes the IRA
Effective January 1, 2023, The United States Congress enacted the Inflation Reduction Act or “IRA” the most revolutionary energy plan in American history.
at a glance
The rebate and incentives included in the Inflation Reduction Act are a lifeline for homeowners experiencing high utility bills. In an era of rising costs and economic uncertainty, these rebates provide crucial relief for families across the country, allowing them to upgrade their homes to energy-efficient products and improve their quality of life.
rebates. credits. benefits.
The IRA outlines multiple programs that each offer a range of benefits, from tax credits and deductions to direct cash rebates. Rebates found in the act encourage high-efficiency HVAC systems, insulation, windows, and more, which can reduce energy waste and help combat climate change. For example, certain qualifying homeowners may up to $14,000 in rebates.
30% off solar
Eligible taxpayers may claim a credit of up to 30% of the cost of installing a solar energy system. The Inflation Act has guaranteed that tax credit for the next decade. If the credit exceeds the amount of taxes owed in a given year, it can be carried forward to future years. Reach out to your CPA to confirm your tax eligibility.
other tax credits
In addition to tax credits for solar systems, the Inflation Reduction Act now offers tax credits for insulation, windows, heat pumps, pool pumps, and more, all up to $2,000 annually, each year. This is a separate benefit from the other rebates or deductions described in the program.
General construction and green energy services are specific to each residence and vary in cost and utility savings. Utility savings are estimates based on manufacturer guidelines or government-sourced data and subject to change. Rebates on this site are updated periodically and such qualifications should be confirmed with your utility provider. Financing terms vary per lender and are not offered in all areas. ekologe, LLC CSLB #1079517, has partnerships with dealers for multiple financing options, but is not directly the dealer, and therefore only the third party dealer and lender may approve, offer, or make a loan. ekologe representatives are not CPAs, so customers are advised to discuss any tax incentives with their tax advisor prior to purchase.
