Upper Cumberland EMC - Residential Heat Pump Loan Program

Upper Cumberland Electric Membership Corporation will loan up to a maximum of $10,000 to install a heat pump in a member's home. This is a residential program for existing homes only. Homes receiving the heat pump must have had permanent electric service for at least one year. This is not available for new homes under construction. The current interest rate for the loan is 7%. Special interest rates for Active Military families are also available. Loans may be set up for a maximum of 10 years with no down payment required and no penalties assessed for paying a loan off early. If a heat pump is being financed through the program, certain weatherization measures such as insulation may also be financed at the same time.