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Pay for Weatherization Costs with Your Home’s Equity

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Living in the Northeast when the seasons are changing can prove costly if your home is not energy efficient. You can easily spend hundreds of dollars on a heat pump, furnace repair or replacement, a pellet stove, air sealing, insulation, ventilation, or roof repair or replacement just to name a few. The list of potential fall weatherization and energy efficiency projects is often big, and finding funds necessary to pay for such efforts may be just enough to make some people think it’s simply not affordable for them.

So what’s the good news? When you have equity in your home, a discounted home equity loan can allow you to leverage your equity for discounted rates and terms. Even the smallest energy upgrades can lower your monthly utility bills, so why not use the equity you already have in your home to get discounted loan rates on energy-specific upgrades and let the utility savings pay the loan payment, as is often the case?


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You may be able to use your home’s equity at little to no upfront cost. Favorable terms are available, which allow you to borrow against the town assessment value. This means no costly and time-consuming appraisal. Also, there are often lender credits for energy efficiency projects, which can offset the cost of taking on a home equity loan.


Where should you start?

The first step with any home energy efficiency project should be to get a home energy audit. For best results, work with a home performance contractor who can easily identify energy losses in your home and prioritize projects based on your budget and needs.

The second step is determining the best way to pay for the improvements and choosing loans like a discounted home equity loan. These low-interest loan options can allow you to make a variety of energy improvements and upgrades while offering flexibility and affordability and may be a good way to keep your hard earned dollars from seeping out the cracks.

When the cooler October air hits, it can feel like there is not enough time to dig into a new project, but it’s the perfect time to tackle an audit list and start saving money. Get started today!


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Alicia White

About Alicia White

Alicia White has over 14 years of lending experience and specializes in home equity loans and home equity lines of credit. She lives a “simply great” life in Danville with her husband, son, two dogs, chickens, and bees. NMLS ID# 204489; VSECU NMLS ID# 416195
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