Description

The City of Richland provides low-interest loans to encourageit residential customers to pursue equipment upgrades and home improvement measures that will increase the energy efficiency of their homes. Loans can be taken out for up to 10 years with interest rates ranging from between 3% and 4%; the interest rate generally decreases with shorter loan payback periods. Interest rates can also be reduced by choosing equipment and measures which exceed the program’s minimum efficiency standards. Individual measures have maximum loan amounts, and the maximum loan per customer for multiple measures is $15,000. To qualify for a loan, the customer must have:

• Electric service from the City of Richland
• Electric heating (no gas or oil)
• A favorable credit history
• Proof of income
• No liens beyond the first mortgage or equity
• A site-built home (not a manufactured home)