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BeSMART Energy Efficiency Loan for Homeowners

Current Home Owners Only Home Repair & Improvement

Type Of Program

Home Repair Loan

Program distribution

Grant

Program Originator

Maryland Department of Housing and Community Development

Program URL

https://dhcd.maryland.gov/Residents/Pages/besmart/default.aspx

Amount

$0.00

Contact

Maryland Department of Housing and Community Development

Location

Nationwide

Description

The BeSmart Home Loan Program is for current homeowners who want to increase the value and efficiency of their home. Homeowners can qualify for an unsecured loan for up to $30,000 in financing at a rate of 4.99% through the Maryland Department of Housing and Community Development to make energy-saving upgrades to their home. Eligible candidates must be current Maryland homeowners with a credit score of 640 or greater and a debt-to-income ratio that does not exceed 50%. Applicants must provide all the required income documents, a certified energy audit completed by a Building Performance Institute (BPI) certified Auditor with proof of the potential to save at least 15% in energy savings. For the BeSMART Home Loan Program, homeowners are encouraged to choose their weatherization and energy efficiency professionals from a list of eligible providers provided by the Maryland Department of Housing and Community Development.

Eligibility Limitations

- Maryland homeowner - Credit score of 640 or greater - Debt to income ratio that does not exceed 50% - Energy audit identifies at least 15% cost savings opportunities

Cash Sale Permitted

Yes

Cosigner Permitted

Yes

Owner Financing Permitted

Yes

Program Provider's Contact Name

BeSMART Home Loan Program

Program Provider's Address

7800 Harkins Road, Lanham, MD 20706

Program Provider's Phone

3014297402

Program Provider's Email

BeSmartHome.dhcd@maryland.gov

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