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The Home Energy Upgrade Finance ("HEUF") Program's Tenth Anniversary!
The HEUF program achieves its tenth anniversary this month. The HEUF program is sponsored by SEMPRA's utilities: The Southern California Gas Company and San Diego Gas & Electric offering competitive financing, available only through contractors screened by the League.
HEUF financing utilizes the Energy Loan, a product developed and backed by Fannie Mae, the nation's largest provider of mortgage funds The Energy Loan is administered by Viewtech Financial Services, a Fannie Mae approved lender and service.
The HEUF program model emphasizes contractor quality and the League plays an integral role in assuring utility customers get the best in contracting services.
HEUF financing is simple interest installment financing with no fees, points or prepayment penalties. Discounted interest rates and extended terms are available for Energy Star rated home improvements.
The League has been approved by Fannie Mae to meet its rigorous contractor screening requirements under their Energy Loan program
Contractors screening include the following:
- The contractor must have a CSLB license that is accurate and in good order.
- A good rating by the Better Business Bureau is also required.
- The League performs a public record's check through the County Court House and the County Hall of Administration to insure that there is no derogatory information regarding the contractor. This is for multiple counties in California.
- The contractor must have acceptable credit, so a credit check is run through Experian Credit Services.
- The contractor must have general liability as well as workers compensation insurance.
- Finally, the contractor must provide a list or 20 customers for whom he has performed work in the last 18 months, as well as three trade references. LCH calls all of the references.
What does all of this mean? It means that you can participate in a program, carefully developed by some of the nation's largest, most socially responsive companies and delivered by local firms with proven integrity in the field of finance and home improvement contracting.
You are not alone!