Residential Loan Fund
- Residential Loan Fund Lenders who were also approved as Assisted Home Performance Program Lenders (Assisted Lenders) will continue to be eligible to issue loans through the Residential Loan Fund and qualify applicants for the Assisted Subsidy until March 31, 2012.
- Effective January 11, 2010, participants in the PV and Wind Incentive Programs are no longer eligible for participation in the Residential Loan Fund.
A Borrower's access to the Residential Loan Fund is contingent upon prior approval through the Home Performance with ENERGY STAR® Program.
The Residential Loan Fund currently offers Eligible Borrowers an Interest Rate Reduction of up to 4.0% or 400 basis points less than a Participating Lender's normal market interest rate on Loans up to $20,000, for a term of up to ten (10) years. Eligible Borrowers must use funds for the purchase and installation of qualified energy efficiency improvements. The Interest Rate Reduction may be capped by NYSERDA so the interest rate charged to the Borrower is not lower than 3.0%.