Energy Conservation Loan (Connecticut)
(Redirected from CHIF - Energy Conservation Loan (Connecticut))
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Energy Conservation Loan|
|Incentive Type||State Loan Program|
|Applicable Sector||Residential, Multi-Family Residential|
|Eligible Technologies||Water Heaters, Furnaces, Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Windows, Siding, Roofs, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount|| Single Family (1-4 units): 25,000 |
Multi-Family: 3,500 per unit
|Funding Source|| Connecticut Department of Housing (DOH)
|Maximum Incentive|| Single family homes (1-4 family units): 25,000|
Multi-family (5 or more units): 100,000
|Terms|| 0%, 1%, 3% or 6% depending on income, family size, location|
Repayment term up to 10 years (subject to change)
|Program Administrator||Connecticut Housing Investment Fund|
Energy Conservation Loans are available through the Connecticut Housing Investment Fund, Inc. (CHIF) to owners of one- to four-family homes who meet established income limits for family size and location. Interest rates vary in accordance with the borrower's family size and income, and the loan may be repaid over 10 years. Single-family homes can receive a 0% interest rate if the family has below a 50% Median Income, or if the loan is for a furnace/boiler that is ENERGY STAR rated.
Loans for large residential properties are available through the Multi-Family Energy Conservation Loan Program. The terms of this loan are similar to loans for single-family dwellings, with a higher principal available on the loan.
Applications for these programs are available from the program web site above. In addition to the application, the borrower must submit copies of the past two years' federal tax returns (with schedules) and a copy of a monthly mortgage statement (or a release of mortgage or deed).
|Contact Name||Kristen Caplin|
|Department||Connecticut Housing Investment Fund|
|Address||121 Tremont Street|
|Phone|| (860) 233-5165 Ext:2002
Authorities (Please contact the if there are any file problems.)
|Authority 1:||H.B. 6360|
|Date Enacted|| 2013-06-21
|Authority 2:|| C.G.S. 16a-40b
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.
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