Efficiency Maine - Home Energy Loans

Efficiency Maine Home Energy Loans let you borrow up to $25,000 at 7.99% APR over 10 years for qualifying upgrades like heat pumps, insulation, air sealing, boilers, water heaters, and clothes washers—with no application fees. If you're low- or moderate-income and verify your eligibility, you can borrow up to $7,500 at a lower 5.99% APR rate over 10 years. Apply through Efficiency Maine's online portal at their website after creating an account with the Efficiency Maine Green Bank.

Efficiency Maine Home Energy Loans expand your customer base by offering financing for residential energy upgrades; only work installed by Efficiency Maine Residential Registered Vendors (RRVs) qualifies, and the loan amount is disbursed directly to you upon project completion. Contractors can register to offer these loans through Efficiency Maine's partner program, which covers heat pumps, insulation, air sealing, boilers, and other eligible equipment—projects do not need to receive an Efficiency Maine rebate to qualify for financing.

This unsecured loan program is administered through the Efficiency Maine Green Bank and offers four loan products with fixed rates and terms ranging from 1 to 10 years; borrowers must be Maine property owners with a principal residence in the state, and standard underwriting applies a 55–70% debt-to-income cap and 580–620 FICO minimums depending on the loan tier. Income-eligible households (verified through a form submission valid for one year) access the lowest rate (5.99% APR) and smallest cap ($7,500), while general homeowners can borrow up to $25,000 at 7.99% APR over 10 years; projects funded include heat pumps, insulation, air sealing, and other equipment eligible for residential rebates, with health/safety costs capped at 25% of total financing.