Infographic: How Home Improvement Financing Works

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how home improvement financing works infographic at Evergreen

(View as a downloadable PDF version)

Nobody loves to talk about money. But when it comes to making your home a more efficient and comfortable place to live, you want to know how much it is going to cost you, and what your options are! Let’s walk through financing this example of how a home improvement project that cost $10,000 could actually end up as a monthly payments well below $100, using the available Efficiency Maine rebates and financing options.  

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The Project

In this example project, Evergreen Home Performance performed an energy audit and found this Mid Coast Maine home was in need of:

  • Attic Air Sealing & Insulation

  • Basement Insulation

  • Entry Door Replacement

The total initial cost of the project: $10,000

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The Savings & Rebates

You stand to save between $50 and $$3,500 on qualifying energy upgrades through Efficiency Maine Rebates. (You must be a Maine resident to qualify, and depending on the loan type you may need to meet minimum credit score and debt-to-income ratio requirements.)

$10,000 Project Cost – $2,500 in Efficiency Maine Rebates (basement & attic zones) = $7,500

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For the remaining balance of your project, the Efficiency Maine Home Energy Loans and the National Energy Improvement Fund (NEIF) offer both low and no interest financing options. $5,000 of the project is in home efficiency projects that Efficiency Maine Home Energy Loans can be used for. NEIF EnergyPlus Loans can be used for the entry door replacement portion of the project, at $2,500.

Efficiency Maine Home Energy Loans: borrow up to $15,000 over 10 years with no fees, and interest rates as low as 4.99% APR. 

NEIF: borrow up to $35,000 when using a NEIF approved contractor, at a fixed interest rate ranging from 7.99% to 12.99% APR, based on your credit. 

Estimated monthly payment of remaining balance of $5,000 to be financed through Efficiency Maine over 10 years: $53

Estimated monthly payment of remaining balance of $2,500 to be financed through Efficiency Maine over 10 years: $33

After rebates and employing both financing products this $10,000 project will give you a more comfortable & beautiful home for just $86 a month!

*actual monthly payment will vary based on program(s) used, and approved APR.

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Efficiency Maine & National Energy Improvement Fund (NEIF)

Nationally recognized lenders that we trust & so can you. No gimmicks, no closing costs and we do most of the paperwork for you! 

Evergreen Your Home For Low Monthly Payments

Want to know what your monthly payment would look like for your home improvement project? Get in touch with the Evergreen team today! Learn about all your options by giving us a call at 207-594-2244 or get in touch here.

Want to know how to finance your next home improvement project?

Talk to Evergreen today! 207-594-2244

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GET IN TOUCH

I have always been impressed by the high level of service, quality of work, and excellent follow-through provided by Evergreen Home Performance in the three projects that they completed at the Wells Reserve at Laudholm over the past several years.

Paul D.

Wells

Evergreen is a terrific company to deal with. Polite and efficient crews, meeting deadlines and major reduction in our heat bills. They corrected a lot of issues we suffered from doing work with a shoddy building contractor. We would recommend them to anyone.

Mary Carey

We just finished a large project of air sealing and reinsulating our 1890s basement and attic which had been completely renovated 8 years ago but still felt cold and lacked proper energy assessment and corrections. We met with Justin in December and were very impressed with his knowledge, professionalism and communication skills and knew Evergreen was who we wanted to work with. Dave was our on hands project manager and was excellent. The office staff has been quick to respond and helpful as well when needed.

Emily Gallant

Bryan, Dave and the entire Evergreen team are wonderfully professional, prompt and thorough. I enjoyed working with them and look forward to continued work as we upgrade our home! Thank you so much for your professionalism, fairness, time and diligence.

Cait

Yarmouth

This team of individuals was professional at all times. They set up barriers that kept the dust at a minimum. They conducted an air flow audit and cut the draft circulation from the outside in half by sealing cracks. They hauled out the old insulation and replaced it with blown in insulation with an R - 60 Value. They also did the rebate paperwork so that I could get my $1500.00 rebate from the state of Maine. I highly recommend Evergreen Home Performance!

Daniel B.

Rockland

We initially contacted Evergreen through Efficiency Maine for an energy audit, which was conducted promptly and professionally by Justin McEdward, one of their Energy Advisors who is BPI-certified. After a thorough inspection of our newly purchased home, Justin explained in great detail what we needed and did not need. It was agreed that Evergreen would remove all of the existing attic insulation, which was not adequate, and replace it with blown in cellulose, to a rating of R-60.

Thomas W.

Scarborough

We had Evergreen energy do blow-in cellulose. I was very happy with the result. They tested with blower-door before and after. House is now MUCH warmer. Also, in the time since when I've had to open walls for various access, I've been impressed with how they got the insulation packed in everywhere. I'd use them again.

Noah

Peaks Island

I cant say enough about this company and the benefits that it created for our family. They are very professional and have effectively re-insulated our home. The heating bill proves the point.

Bob O.

Springvale

Great team!

George S.

Bath

Evergreen Home Performance shows its expertise from start to finish. Evergreen did three house projects in winter/spring/summer 2020 for me, attic insulation, crawl space under a porch insulation, and basement foam/vapor barrier. From my initial discussion with Bryan, I understood the reasons for choosing different types of insulation, the associated costs, and time estimates. Evergreen scheduled in advance, came when they said they would, and the crews were highly professional in their work and demeanor.

Iris S.

Portland

I waited a year to write this review. Evergreen finished our job late last winter. Terrific results!!! we've gone from 12-day propane deliveries to 30+ day propane deliveries. The house is noticeably warmer. The Evergreen crew was/is professional, prompt, thorough, scientific, gracious and immaculate with respect to keeping our house clean. Money well spent.

John E.

Boothbay

We couldn't be more pleased with the easy, professional, high-value service from Evergreen. Having purchased an older home that had been in our family for generations, we needed multiple upgrades, including insulation throughout. Evergreen insulated our attic with blown-in cellulose, built a new, super-insulated attic hatch, sealed off the old one (which was just a piece of plywood in a closet ceiling), and also talked us through our best options to upgrade our heating system given the plans we have to add onto the house.

Tom G.

South Thomaston

I used to spend winters in the bathtub because my house was so cold. This was my first winter roaming around my whole house comfortably. This even led me to decorate a little. My heating oil usage has been reduced by over a quarter: I rarely have to boost the thermostat because the temp stays at a constant. The Efficiency Maine rebates, together with the energy savings, make it affordable for me to pay for the loan I took out to finance the project. I do not worry about my pipes freezing.

Claire Helene Bevan

Camden

Highly recommended. Our heating usage is now less than half what it was before we had our roof insulated. Evergreen was knowledgeable, friendly, and left no trace they were ever in our house. Not only is our heating bill much lower now, but our home is generally more comfortable year-round with less temperature fluctuations. Money well spent.

RC Lations

My experience with Evergreen was excellent. From their thorough and thoughtful initial consultation to their detailed post-work visit, the team was professional, knowledgeable, and responsive. Their workmanship was top notch. Our home is now much warmer and more efficient. I highly recommend their services!

Douglas R.

Edgecomb

See All Testimonials
Portland Buy Local
Efficiency Maine
EPA Lead-Safe Certified
Building Performance Association
BPI Certified

190 Riverside St. #2A,
Portland, ME 04103

315 Main Street, Ste. 205,
Rockland, ME 04841

207-594-2244

info@evergreenyourhome.com