Smart-E Loan Special Heat Pump Offer
For a limited time, enjoy the benefits of heat pump technology for your home and receive a lower interest rate. Heat pumps can make your home warmer in the winter and cooler in the summer, while using less energy than other types of heating/cooling.
Get Flexible Financing with a Smart-E Loan
A Smart-E Loan offers a no money down option to work with your local contractor and a network of participating lenders. The process is easy and fast.
- 4.99% interest rate (2.99% interest rate for income qualified borrowers)*
- Repayment terms of 5, 7, or 10 years
- Loan amounts up to $50,000
- No prepayment penalties
Eligible Heat Pump Technologies**
- Air source heat pumps
- Ducted / ductless mini splits
- Ground source / geothermal heat pumps
- Heat pump water heaters
Homeowner Eligibility
- Homeowners must be an Eversource or Avangrid customer (electricity or gas)
- Homeowner must have been approved for an EnergizeCT Heat Pump Rebate***
How to get started
1. Work with a contractor. Any contractor can become eligible to join the program to offer the Smart-E loan. For this special offer, contractor must be an approved Smart-E contractor in good standing and must also be part of EnergizeCT’s Heat Pump Installer Network (HPIN).
2. Apply for a Smart-E loan. Contact one of these participating Smart-E lenders directly:
- Ascend Bank
- Coreplus Credit Union
- Mutual Security Credit Union
- Riverbank Federal Credit Union
- Union Savings Bank
Provide the lender with the amount you need to finance and apply for pre-approval.
3. Contractor submits the project. Once your Smart-E loan is approved, let your contractor know they can submit the project to our Smart-E team.
4. Loan closing and project completion. After the loan is closed, the contractor receives a partial payment to begin the work and will receive final payment after the project is completed.
* Income qualified borrowers are those who are at or below 60% of state median income (SMI).
** A blended rate will be applied if other eligible improvements are included in project.
*** Special rate is only available on heat pump equipment eligible for the Energize CT rebates: air source; air-to-water; heat pump optimization; ground source; or water heater.