BeSMART Energy Efficiency Loan for Homeowners
- Energy Program
- Statewide
Summary
The BeSMART Energy Efficiency Loan for Homeowners is a program that provides low-interest loans for energy efficiency upgrades to eligible homeowners in Maryland. The program is administered by the Maryland Department of Housing and Community Development and offers loans of up to $30,000 with a fixed interest rate. Eligible energy efficiency improvements include insulation, air sealing, HVAC upgrades, and renewable energy systems. The loan can be repaid over a period of up to 15 years through the homeowner's property tax bill. Additionally, the program offers free energy assessments and project management assistance to homeowners.
Eligibility Requirements
- The applicant(s) must be a homeowner in the state of Maryland.
- The applicant(s) must have a minimum credit score of 640.
- The applicant(s) must have a debt-to-income ratio of 50% or lower.
- The applicant(s) must have a minimum household income of $25,000 per year.
- The applicant(s) must use a participating contractor for the energy efficiency upgrades.
Contact Information
Maryland Department of Housing and Community Development
7800 Harkins Road
Lanham, MD 20706
Phone: 301-429-7400