Heat Saver Loan Program

The Heat Saver Loan Program features discounted interest rates on energy efficiency projects and purchases, based on household income. Upgrades covered by this program include weatherization, cold climate heat pumps, wood and pellet stoves, solar hot water installations, and advanced modern wood heating systems. Do-It-Yourself (DIY) projects are not eligible for the Heat Saver Loan. The VGreen Energy Improvement Loan is a great option for DIYers who want to finance their energy improvements.

For your project to be eligible, the building must be

  • a residential owner-occupied 1-4 family unit, and
  • physically located in Vermont.

Eligible contractors can be found here. To ensure your project meets the specifications for eligibility, direct any questions to Efficiency Vermont at 1-888-921-5990.

Note: Vermont Gas customers are only eligible to finance ductless heat pump projects.

View the steps to apply.





RATES

Residential loan options are available with terms up to 15 years for amounts up to $35,000.

Calculate your loan payment below:

Enter the amount you wish to borrow:

Household Income Qualifications Loan Term Loan Rate (APR) Monthly Payment
Household Income Over $90,000 *
Term up to 5 years: 5.49%
Term > 5 years; up to 10 years: 5.99%
Term > 10 years; up to 15 years: 6.49%
36 months 5.49%
60 months 5.49%
120 months 5.99%
180 months 6.49%
Household Income $60,000 – $90,000 *
Term up to 5 years: 1.99%
Term > 5 years; up to 10 years: 2.99%
Term > 10 years; up to 15 years: 3.99%
36 months 1.99%
60 months 1.99%
120 months 2.99%
180 months 3.99%
Household Income Below $60,000 *
Term up to 5 years: 0%
Term > 5 years; up to 10 years: 1.99%
Term > 10 years; up to 15 years: 2.99%
36 months 0%
60 months 0%
120 months 1.99%
180 months 2.99%

APR = Annual Percentage Rate. APR is effective as of 1/1/2019 and reflects the current APR offered for the term listed. Estimated monthly payments shown are based on a $15,000 loan. Calculated payments shown are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.

Income qualification guidelines apply. Terms are available from 1 to 15 years. APR will be adjusted based on household income and term. Other rates and terms may apply. Secured loan options available upon request; minimum secured amount borrowed is $5,000.


RESOURCES


HOW TO APPLY

  1. To start, work with an eligible contractor to specify the qualifying products or services for your project (detailed quote of project costs required).
  2. Complete the Heat Saver Loan project verification form with the contractor.
  3. Apply for your loan online. (Note: type “Heat Saver Loan” in the comments section of the online application)
  4. A VSECU representative will contact you to discuss your loan application.

For questions about project or contractor eligibility, contact Efficiency Vermont at 1-888-921-5990.