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

We just finished a large project air sealing and reinsulating our 1890s basement and attic. It 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.

E Gallant

Kennebunk

Evergreen did a fantastic job insulating our 1930's home. The onsite team was professional, clean, and really just a joy to interact with throughout the process. A blower test at the end showed a significant decrease in air leakage. I highly recommend Evergreen.

Kristen H.

South Portland

We are thrilled with the job Evergreen did to transform our 213 year old home into a warm, draft-free, cozy space. The entire team led by Bruce was prompt, courteous, knowledgeable, and hard working. If Evergreen could transform our home in this way, we are sure they would make a comparable difference in YOUR home!

Jonathan M.

Bridgton

The folks at Evergreen did a great job fixing a rather major insulation problem in my house, which they helped identify with a great audit. When the work began, they were thorough, upbeat, and -- dare I say it -- efficient. I strongly recommend them.

Michael Williams

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

The Evergreen crew from initial inception to installation were professional, on time, and left our place spotless. The end result was exceptional.

John Brown

They were highly recommended. I found them to be very knowledgeable and so helpful, with practical ideas. Despite my not living within their service area, they were generous with their knowledge, describing the usual solutions to correct leaks in my basement, and what the result is likely to be by following path A, B or C, and why. I was discouraged. Talking with Evergreen helped me see that my basement problems are far from insurmountable and really, fairly common in 100-year old homes. There are proven solutions.

Rosalind J

Damariscotta

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

My husband and I bought a home on the water in Owls Head and decided to make the investment in Evergreen's recommendations for insulation. Brian Robinson spent 3 hours examining every nook and cranny before he made practical suggestions and explained them thoroughly to us.

Marie McNeely

Owls Head

I never leave reviews, but had a great experience with Evergreen and wanted to spread the word! In short, we worked with them to insulate our roof this winter and have noticed surprising immediate results. The constant ice dams I have wrestled with are completely gone, and the home is noticeably more comfortable. It's a little too early to tell if our oil bill is going to reduce, but I imagine we will see an impact there as well.

Joel W.

Portland

Greetings one and all! I am writing to express my gratitude to all involved in my insulation project.  From start to finish, I appreciate the universal theme which was maintained by each and every one of you, to ensure that my home was insulated and protected from freezing pipes as if it was your home. Andrea, thanks for helping me navigate my way to the project. Nate, thanks for the thorough initial assessment and the time you took to explain this project to me, step by step. Brian, thanks for setting up my project - so happy

Michele

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

Evergreen is the "go-to" company for improving the efficiency of your home. There are others to choose from but none so effective, honest, and capable as Evergreen. They did a great quantity of dense packing cellulose to improve our home (both for energy efficiency and for sound insulation) and it was totally successful. They are on-time, helpful, and caring. They clean up to a level that can't be over emphasized. This was the second time we employed them and we'd use them again if the opportunity came. You'll not be sorry to select Evergreen.

Dirk F.

Belfast

Evergreen did everything they said they would and more. I actually don't mind going into the basement now since they sealed it. The air quality in the house is noticeably better and it's warmer in the winter. We can even store clothing down there where before, whatever was in there would mildew. Even the spider population declined! I used to vacuum so many of them from the corners of the ceilings in the house. Not any more!

Loriel Van Dusen

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Efficiency Maine
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190 Riverside St, #2A,
Portland, ME 04103

315 Main Street, #205,
Rockland, ME 04841

207-358-3706

info@evergreenyourhome.com