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

Evergreen came out 2 years ago to do an assessment and insulate our roof. This year we had them come back and do the basement as well. They are hands-down the best crew we've ever hired to work on our house. They are experts at what they do, and super meticulous in their work. After working in our house for a week with blown insulation, there was no trace they were ever here. We've seen a huge decrease in our energy bills while at the same time the house has become way more comfortable. Can't recommend them enough.

RC Lations II

Portland

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

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

Our house still the most efficient home we’ve ever lived in. And we have you folks to thank for that! A special howdy to Brian Robinson please!

Bruce O’Donal and Eva Butler

Professional, friendly and hard-working staff. The product/approach they use for insulation is top notch. We felt the difference immediately, both from added warmth and eliminating drafts. The team and management were easily available to answer our questions or coordinate meeting times. Highly recommended.

Kevin J.

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

Evergreen did a fantastic job replacing 28 windows in our house. They were friendly, courteous, and very detail oriented. Brian did a great job planning, estimating and executing the project. Our energy use has dropped significantly since the work was done.

Alex B.

Kittery

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 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

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

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

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

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

Thanks Evergreen Home Performance for helping to make our home more efficient. Many thanks as well to Bryan for the initial walk through and recommendations to make our home more efficient and to Dave, Roland, and Jacob for a job that was done professionally and courteous.  We were amazed at the level of efficiency and everyday they made sure to protect our floors, carpets, and furniture. We had daily discussions with Dave about progress and what was being done and where they were at in the project.

Carol Fink

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

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

315 Main Street, #205,
Rockland, ME 04841

207-358-3706

info@evergreenyourhome.com