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General Financing

Have a home you want to improve? Talk to us! We have a dedicated team of professionals who understand all the financing options available and can help you decide what’s right for your budget. Currently, three types of loans exist: secured financing, unsecure financing and energy-specific financing.

Secured financing uses the equity in your home as collateral. These have lower rates and longer repayments terms with lower payments and are tax deductible. Home Equity Loans (HELs), Home Equity Lines of Credit (HELOCs) and Energy Efficient Mortgages (EEMs) are some examples.

HELs have fixed rates and terms. HELOCs differ from traditional HELs because they establish lines of credit up to the credit limit established by the value of a home rather than providing an entire sum up front, so they’re similar to a credit card. Interest rates are variable, usually based on the prime rate. When you use a HELOC for home improvements, the interest you pay is usually deductible on both federal and state taxes, so you save more. With flexible rates and repayment terms, this is an excellent option for financing because you set the terms, borrowing as much as you want or need and repaying it in a manner you can afford. See federalreserve.gov for more information on HELOCs and HELs.

An EEM allows you to refinance up to 5% of the appraised value of your home for energy improvements. EEMs credit a home’s energy efficiency in the mortgage itself, lending you the opportunity to pay for cost-effective, energy-saving improvements when you get your mortgage. For more information on EELs, see portal.hud.gov.

Want another option? Then take out an unsecured personal loan for your improvements. Or work with us and our contractor-specific loans. Take advantage of the Energy Efficiency/ Solar PV Loan Program, provided by San Diego Metropolitan Credit Union. Please see www.sdmcu.org/home/products/energysolarloans for more information.

The GGR Energy Efficiency and Solar Loan Program. We have partnered with San Diego Metropolitan Credit Union and can offer rates as low as 4.99% and up to 20 year payment term up to $50,000 on approved credit! The programs can finance up to $25,000 for energy efficiency improvements and up to $50,000 for solar! We can even add some additional remodel work into the loan in needed (up to 20% of loan). Some restrictions apply. Please contact info@ggrenergy.com for more information.

If you live in the city of Chula Vista, you’re in luck. It offers loans to residents who use GGR Energy for their remodeling needs. Since we’re an eligible contractor, you can qualify for the city’s Low Interest Retrofit Financing Program, which lets you finance up to $20,000 at 0% interest. Loans are limited, so act today!

Remember, we know all the options available to you and expertly guide you into the financing that best suits your lifestyle and your wallet. Schedule a home energy assessment today; we’ll do the rest.