STEP 2 - QUALIFY FOR AFFORDABLE FINANCING

The AlabamaWISE community loan program brings energy-saving home improvements within reach.

NEXT STEP: Home Improvements

Through the AlabamaWISE program, financing is available for energy saving home improvements including replacement windows, HVAC, water heating, air conditioning, insulation and air sealing that are completed by our certified and approved contractors. AlabamaWISE makes home performance improvement easy, affordable, and smart.

*If you are already working with a contractor, please contact us to verify they are a participating AlabamaWISE Service Provider. 

Loan Program Process

The AlabamaWISE Loan Program is available to homeowners in Alabama who meet the following criteria:

  • Available loans from $2,500 to $15,000.
  • Available terms are 24 months at 1% fixed interested rate.
  • Minimum credit score of 660
  • Approved AlabamaWISE energy efficiency project on home
  • Member or affiliate member of Redstone Federal Credit Union

 

STEP 1: Potential Borrower provides the following information to apply for an AlabamaWISE home energy loan via chad@nexusenergycenter.org or by phone, 256-426-6941.

  • a. Proof of credit score within the past 90 days
  • b. Scope of Work from an AlabamaWISE affiliated contractor
  • c. Non-refundable $100 administrative processing fee. Please make check payable to Nexus Energy Center
  • d. Proof that Borrower is a Redstone Federal Credit Union Member or part of one of their Community Service Groups listed at https://www.redfcu.org/about/current-service-groups.

 

STEP 2: Loan Approval or Decline is communicated to Borrower via email with additional instructions on next steps.

  • a. If approved, Nexus Energy Center will send Notice to Proceed to the Borrower and the Contractor.
  • b. Contractor will schedule work directly with Borrower

 

STEP 3: Contractor performs work to Borrower’s satisfaction.

  • a. Completes Certificate of Completion with Borrower and sends to Nexus Energy Center with invoices.
  • b. Borrower completes RFCU Loan Application (a $20 loan processing fee will be added to total loan amount) and Non-Disclosure Form for the Nexus Energy Center Loan Program, with loan amount (taken from Invoice).

 

STEP 4: Nexus Energy Center emails the loan docs to both the Borrower and Contractor.

STEP 5: RFCU sends Loan Origination information to Borrower (principle, terms, fees…).