Sponsored by Golden State Finance Authority (GSFA)

Updated 06/19/15

GSFA RESIDENTIAL GSFA RESIDENTIAL ENERGY RETROFIT ENERGY RETROFIT

PROGRAMPROGRAM

Program Overview for the

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Introduction to the Program

• Provides financial assistance for residential energy efficiency improvements

LASSEN

SIERRA

TEHAMA

MODOC

PLUMAS

NEVADA

EL DORADO

SISKIYOU

DEL NORTE

TRINITY

BUTTE

LAKE

HUMBOLDT

SHASTA

MENDOCINO

YOLOSONOMANAPA

SUTTER PLACER

SACRAMENTO

SOLANOMARIN

CONTRACOSTA

SANJOAQUIN

SAN FRANCISCO

SAN MATEO

ALAMEDASTANISLAUS

MERCED

MADERA

SANTACLARA

SANTA CRUZ

MONTEREYKINGS

SAN LUIS OBISPO KERN

SAN BERNARDINO

VENTURA

SANTA BARBARA

LOS ANGELES

ORANGE

RIVERSIDE

SAN DIEGO

IMPERIAL

TUOLUMNE MONO

ALPINE

CALAVERAS

MARIPOSA

INYO

AMADOR

GLENN

COLUSA

TULARE

FRESNO

YUBA

SAN BENITO

• Currently Available in 44 Counties of California

In partnership with:•Five Star Bank•Pacific Gas & Electric Company (PG&E) •Energy Upgrade California Home Upgrade

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Benefits to Homeowners

• Financing option when no “cash resources” available

• Improve comfort of the home

• Potentially lower utility bills

• Potentially increase the home’s value

• Reduce energy consumption / help the environment

• Support the local economy

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If your car was leaking gas, what would you do?

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Your house is no different.

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What can you do about it?

• Energy Upgrade your home with the help of the GSFA Residential Energy Retrofit Program Energy Efficiency = Use less energy to provide the same level

of energy service Potential benefits:

Energy Efficiency

Comfort

Safety

Durability

Home Value

Utility Bills

Carbon Footprint

Home Failures

Moisture Problems

Health Issues

Cleaning

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Examples of Eligible Measures

Old or inefficient

water heater (including

solar units)

Insufficient or low-grade

insulation in attic

Old heating or cooling system

Leaky air spaces

Bad duct systems

Inefficient lighting

Inefficient appliances

Leaky windows

Insufficient insulation in

basement

Cool roofSolar Panels

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How to Get Started

1. Contact a GSFA Participating Contractor List available at www.gsfahome.org Or call GSFA at (855) 740-8422 for a referral

2. Setup your home assessment

3. Apply for financing

4. Discuss your options for improvements / Submit your project for approval

5. Sign your loan documents

6. Energy upgrade!

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What Is a Home Assessment?

1. Performed by a qualified GSFA Contractor

2. Interior is inspected: Air Leaks, Thermal Bypasses (how air moves through house), Insulation, etc.

3. Exterior is inspected: Roof Windows/Doors/Siding Crawlspace or Basement Chimney Exterior Drainage Systems, etc.

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Energy Assessment Tools

• An infrared camera can display temperature differences between surfaces and help determine if a wall is insulated. It can show drafts and moisture, which can lead to mold problems.

• A blower door is used to measure leakage in air ducts, which affects heating and cooling efficiency.

• A carbon monoxide meter is used to determine if your combustion appliances are properly vented so the air is safe for your family to breathe.

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Home Assessment continued

4. Heating, Ventilation and Air Conditioning Combustion safety Unit efficiencies Proper sizing Duct leakage Ventilation (range hoods, bath fans, etc)

5. Provides a Diagnostic Summary Utility bill analysis Recommendations list Prioritization of recommendations by cost, energy

efficiency improvement and ease of performing work Models “what if” scenario = provides an estimate of

energy efficiency savings

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What are the Terms of the Loan?

• 6.5% fixed interest rate*

• 15-year fully amortizing

• Max loan amount = $50K No minimum loan amount Loan amount must not exceed amount of credit approval

• 100% of an approved project can be financed No down payment is required from homeowner

• No prepayment penalty Loan is however, due and payable upon sale of home

* Interest rate quoted as of 11/13/13 and subject to change at any time

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Loan Terms continued

• Loan secured by UCC 1 Fixture Filing lien Lien on any tangible equipment installed as part of the

energy efficiency retrofit (equip cost)

• Monthly loan payment examples: $10,000 loan at 6.5% = $87.11/month (APR 7.365%) $20,000 loan at 6.5% = $174.22/month (APR 6.924%)

* Interest rate quoted as of 11/13/13 and subject to change at any time

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Do You Qualify?

• Must be owner of subject property• Mortgage and property taxes must be current• No judgments, tax or mechanic liens allowed• Must have a current source of income

There are NO Income Limits Any source of verifiable income is allowed

• Minimum credit score of 640 required• Maximum debt-to-income ratio of 45%• Auto withdrawal of payment is required

Applicant(s) = All parties on title

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Property Eligibility

• Must be located in an eligible county

• Single-family, 1-4 unit, residential property Modular homes are eligible Manufactured & mobile homes are NOT eligible DOES NOT have to be primary residence

(Rental properties are permitted)

• NO appraisal on home required

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Program Fees for Applicant

• Applicant Fees = $545 per transaction Administration Fee = $200 Underwriting Fee = $150 Escrow Fee = $195

• Fees can be automatically included in the Loan Amount Not to exceed credit approval amount

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Get Started Today

• Contact a GSFA Participating Contractor List available at www.gsfahome.org Or call GSFA at (855) 740-8422 for a referral

• Setup your home assessment

• Apply for financing / Get approved

• Discuss your options for improvements / Submit your project for approval

• Sign your loan documents

• Energy upgrade!

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Presentation contains program highlights only. All guidelines are subject to change without notice.

The GSFA Residential Energy Retrofit Program is sponsored by Golden State Finance Authority (“GSFA”), a California Joint Powers Authority. Funding for this program is made possible through funding from Five Star Bank and may be supported in part by funds from one or more of the following; your local Investor Owned Utility (“IOU”), or the California Public Utility Commission (“CPUC”), GSFA, or the California Energy Commission (“CEC”), as part of an award to the CEC by the Federal Department of Energy under the American Recovery and Reinvestment Act. Program restrictions apply. Call GSFA at (855) 740-8422 for details.

Golden State Finance Authority (GSFA)

1215 K Street, Suite 1650

Sacramento, CA 95814

www.gsfahome.org

(855) 740-8422