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 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

Great team!

George S.

Bath

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

I highly recommend Evergreen! 1st, I had a home efficiency inspection (that was free) & Bryan P. was great! He took the time needed, asked & listened to what I thought were priorities, explained clearly what he thought were priorities & why, then gave me numerous options. No pressure whatsoever. Then I had my attic sealed & insulated as the 1st step & Bryan came along on day 1 to introduce everyone & make sure we were all on the same page. Bruce's team (inc. Kelsey & Roland) did the work - they were exceptional!!

Melissa M.

Kennebunk

Last week, my oil company asked if we were using some other kind of fuel because our usage was so much less than they had expected We are very happy with the results; the house is much more comfortable

Steve T.

St. George

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

A thorough inspection of our (older) house and its energy needs. Competent and personable work crew.

Jacob Watson

We had Evergreen come out to our tiny old (100+ year old) house to see what they would recommend for decreasing our carbon footprint, saving money, and increasing our comfort in the cold season. Richard and Bryan were great to work with, patiently answering our many questions and walking us through multiple options. We could only afford to tackle a few areas this year; we ended up replacing some windows and having them weatherize the entire house.

Alan M.

Falmouth

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 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

Nothing but good things to say. The guys that came and did the actual work were extremely nice and did a great job. The energy audit was thorough and I was presented with multiple improvement options, I was even given ideas for improvement that Evergreen didn't offer. I never felt like I was being "sold".

Ryan Adams

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

Evergreen listened and produced a thoughtful evaluation, proposal and comprehensive plan for our attic and basement. They exhibited excellent workmanship, teamwork, and came back as planned after the completion of the job to test the outcomes. Their overall performance as insulation and home improvement contractors is truly outstanding and we highly recommend them.

Susan S.

Saco

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

Led by Brian Robinson, the Evergreen Home Performance team just completed an insulation refit at my home. It was truly a great experience from start to finish, a period of time that was a fraction of the time that I originally anticipated due to the team's unbelievable work habits and professional knowledge of their tasks. As impressive were the communication skills and friendliness of each and every member of the team.

Anne W.

Rockport

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Portland Buy Local
Efficiency Maine
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Building Performance Association
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190 Riverside St, #2A,
Portland, ME 04103

315 Main Street, #205,
Rockland, ME 04841

207-358-3706

info@evergreenyourhome.com