Brooklyn Green Home Solutions Inc.
Energy Audits and Retrofits
70 8th Avenue, Suite 1
Brooklyn, NY  11217
718-757-6957
Info@BGHSI.com

Financial Incentives-Low Interest Loans


Two loan types exist-1) an Smart Energy Loan repaid in installments to Energy Finance Solutions, NYSERDA's loan servicer; and 2) an On-bill Recovery Loan, repaid through an installment charge on your utility bill.

  • 5, 10 or 15 year terms. 
  • Current interest rate of 3.49% with direct debit for the Smart Energy Loan. 
  • Can be for up to $13,000 (or up to $25,000 if the simple payback is under 15 years)

For a summary of the loans, please click here.


Primary Approval Standards:

Customers who meet the following underwriting criteria may be approved through the primary approval process:

    • satisfactory credit score
    • acceptable level of income relative to outstanding debt obligations;
    • no bankruptcies, foreclosures, or repossessions within the last 2 years and
    • not more than $2,500 in outstanding collections, charge-offs, liens and judgments
  • Satisfactory credit score
  • Acceptable level of income relative to outstanding debt obligations
  • No bankruptcies, foreclosures, or repossessions in the past two years
  • Not more than $2,500 in outstanding collections, charge-offs, liens and judgments


Credit Score 540-599 600-679 680 and above
Debt-to-Income (DTI)* Up to 70% Up to 75% Up to 80%**
Mortgage Payment History Mortgage has been paid on-time for the past 12 months and no payments more than 60 days late in the past 24 months.
Bankruptcy, Foreclosure, Repossession History None in the past 24 months
Outstanding Collections, Judgments, Liens and Charge-offs May not exceed $2,500

*DTI is a measure of existing debt payment obligations (mortgage, auto loan, student loan, credit card payments, etc.) as a percentage of income.
**DTI is up to 100% for applicants who qualify for the Assisted Home Performance with ENERGY STAR 50% discount.

This does not constitute a comprehensive list of loan underwriting guidelines. These standards are subject to change at NYSERDA's discretion.

Alternate Approval Standards:

Customers who are not approved through the primary approval process may still qualify for a loan if they meet  alternative standards.  Please contact Energy Finance Solutions for more information.


    For more information on how to apply, click here


                                                                   
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