The only thing keeping many people from having a more energy-efficient home is money.
A brand new program allows people to get green upgrades now and pay for them later in their monthly utility bill.
My parents have lived in Yorktown for 32 years with poor insulation, inefficient lighting fixtures, and a faulty boiler causing the utility bills to skyrocket. It didn’t help either that the oil provider was ripping them off! One of the bedrooms was extremely cold compared to the other bedroom, so I knew something was wrong! We contacted NYSRDA 3 years ago and had the entire house insulated for a 3rd of the cost. We changed oil providers and are saving heaps!
Now, there is a new state program that allows New Yorkers to make energy-efficient upgrades in their homes without paying any cash up front, it’s called the On-Bill Recovery Loan Program. Through on-bill homeowners can now take advantage of upgrading their homes through energy-efficient improvements and make their payments through their utility bill.”
Homeowners first agree to a comprehensive home energy audit to identify areas to save energy. We have a great company to recommend – email us for the info. The next step is applying for a 2.99 percent loan. If approved the homeowner will be eligible for up to $25,000 to make necessary changes. The loan is repaid each month through a line item on the homeowner’s utility bill.
There are no income limitations for homeowners wishing to participate in the program. Participants must have a credit score of at least 640 or a good payment history for both their mortgage and their utility bills. They must also own the property.
New Yorkers who apply now won’t have to start repaying the loan until June.
Will you be taking advantage of the new program? Let us know in our comments section below…
