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

Evergreen has insulated two homes that we've owned now and both times we experienced exceptional service and craftsmanship. Our rep, Justin, went above and beyond answering questions and the installation team was attentive to every detail, including pulling out old poorly installed insulation and redoing a bathroom fan that wasn't up to current code. They also left the place spotless every day! Our home is already so much warmer this fall and we are looking forward to using less oil this winter.

Eva G.

Falmouth

Evergreen completed the work at my home thoroughly and professionally. An inspector from Efficiency Maine came to inspect afterwards and described it as "state of the art" and "outstanding". The crew was very pleasant and considerate during the project. Their cleanup each day was perfect. Communications with the office were easy and reliable. I am very satisfied.

Catherine H.

South Portland

We had Evergreen Home Performance of Rockland come in to make our home more energy efficient, and what a TOP notch crew. Brian and his crew did an amazing job from start to finish. Very knowledgeable and professional. We would Definitely highly recommend this crew to anyone who is looking for energy efficiency in their home with a company that truly is an expert and knows how to do a quality job and truly cares about their customer.

Melissa S.

Owls Head

Our basement was the eyesore of the house. I wanted to make improvements, but first needed to make structural, insulating and moisture mitigation improvements. Evergreen was professional and competent in taking on a complex project of not only encapsulation and insulation of basement and crawlspace, but completed needed improvements to the structural integrity of the wood floor platform above a crawlspace and brought in a concrete contractor to pour where there was once a rotting, tiered wood platform - replacing that area with a more functional and tight tiered concrete area.

Duane B.

East Boothbay

Evergreen did an amazing job insulating our historic home. Their professional staff worked hard to ensure the tough areas in the attic were covered, and clearly communicated their progress. We are seeing the results with our discounted heating bills. Thank you, Evergreen!

Melissa Knoll

Portland

Awesome company. It was a few years ago that they did the audit and then we commissioned them to do the work. We subsequently sold our house and moved to South Africa, but their level of service and expertise will live on.

Odette Brown

Thorough, smart, informative, integrated, and communicative -- that's how my experience was with Evergreen even with the covid interruption midstream. The team picked up where they left off, insulated basement and air sealed attic and knee wall in 100' temps under the eaves! This business group was a pleasure to work with.

Karen W.

Gray

I was extremely pleased with the professionalism and quality of service that I received from the Evergreen team. I met Richard to discuss options for insulation. I knew immediately that I wanted to do business with them because he did not try to over-sell extra services that I did not need. Dave was the project manager. He was not only kind, but very respectful of my home. I would highly recommend this company.

Darlyann M

Bath

Evergreen removed and replaced the insulation in my attic. They did a great job!, Crew was excellent, and the whole thing went smoothly, and the attic was NOT easy to get into or work in, so kudos to some hard work done well!

Joel A.

Portland

I was very impressed by the professionalism of this company and the workers. Brian R. was very prompt in replying to my questions; the crew was meticulous in all parts of the work and attentive to the safety aspects concerning Covid; and Brian was extremely thorough in the final inspection. My attic is now snug and warm and I've noticed that the second floor is warmer as well.

Julia S.

Rockland

Update 12/2018: Evergreen has completed Phase II of my house (insulating and installing air/moisture barrier on exterior walls, replacing old windows) and now that heating season is upon us, the difference is astonishing. The house is tight as a drum and so easy to keep warm. Worth every penny. Thank you all! Working with Evergreen was a positive experience from start (no charge energy audit) to finish (a MUCH more comfortable home). Brian Robinson spent a lot of time with me on the audit, explaining clearly what he was finding in my ca.

Rebekah W.

Rockport

We had a fantastic experience working with Evergreen to insulate our roof this winter. Everyone was extremely friendly throughout the process - the crew at our home worked hard, were approachable with questions, and the team leader even showed me around the project to point out specific areas they were working to improve.

Joel Wentz

"Working with Evergreen from start to finish was a great experience." See what our customers have to say about their experience with Evergreen Home Performance. 

Jeff L.

I would recommend Evergreen wholeheartedly because of their professionalism, their follow through, and thoughtful project planning.

Jennifer A

The crew members from Evergreen Home Performance each made sure to greet us every day, while maintaining their distance in this time of the pandemic. Their work took a total of nine days, spread over three weeks. Even though they were working in multiple rooms of our house, as well as the basement and attic, they were unobtrusive and always cleaned up after themselves every day. The on-sight manager kept us informed of their daily schedule so we'd know which parts of the house they'd be working on.

Bob & Sue

Whitefield

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