Austin Energy® Home Performance Program

Need a new AC?Velocity Credit Union and Austin Energy have teamed up to bring you access to low-cost financing at favorable terms for a variety of energy-related home improvements. The improvements can include the installation of:

  • Energy-efficient air conditioning and heating
  • Attic insulation
  • Duct system improvements
  • Caulking
  • Weather stripping
  • Solar shading for windows

Owners of residential properties that are at least 10 years old and serviced by Austin Energy are eligible to apply, subject to current Home Performance with ENERGY STAR® guidelines.

Borrowers must qualify for Austin Energy’s Home Performance with ENERGY STAR® program.

General program requirements

For program details. In general, the requirements are as follows:

Check mark​ Only owners of 10-year or older single-family homes, condominiums, town homes, duplexes, triplexes, fourplexes, and rental properties serviced by Austin Energy are eligible.

Check mark A registered contractor with Austin Energy must perform the home energy analysis and make all energy efficiency improvements.

Check mark​ To maximize energy efficiency and performance, new air conditioning units and heat pumps must be properly sized according to specific guidelines communicated to the registered contractors.

Do you qualify? Apply Now!

Loan rates as low as 1.99% APR! (Rates subject to change.)

  • FICO minimum remains 600.
  • 1st payment can be set up to 45 days out.

See the chart below for loan amounts, terms and sample payment amounts.

Rate Payment
Approximate Monthly Payment
per $1,000 Financed
Up to $10,000 60 1.99% $26.29 - $175.25 $17.53
Up to $10,000 120 2.99% $14.48 - $96.53 $9.66
$10,001 to $15,000 60 or 120 3.99% $101.22 - $151.82 $10.12

Learn more or apply now by filling out the form below!

For borrowers who qualify, Velocity Credit Union is offering loans with a fixed interest rate as low as 1.99% APR and loan repayment terms of 5 or 10 years, depending upon the loan amount. Loans can be paid off early without a pre-payment penalty.  

To qualify for the special 1.99% to 3.99% APR, the following conditions must be met, in addition to the general program requirements specified above:

  • The potential energy savings of the recommended upgrades must meet the minimum criteria.
  • Borrowers must have a credit score of at least 600*.

Frequently Asked Questions

What happens if you don’t qualify for the special APR?
Velocity Credit Union offers home improvement loans for a variety of purposes, including energy efficiency improvements. Austin Energy residential customers who meet the eligibility requirements for the Home Performance with ENERGY STAR® program who don't qualify for the special APR may qualify for home improvement loans.

Can you apply for the loan at any time?
Yes.  Velocity Credit Union can provide you with a pre-approval in the event you have not yet had an energy analysis conducted by a registered contractor. Once you’ve completed the necessary program requirements, the credit union can move quickly to close your loan.

Does the loan program include installation of solar heating systems?
No. The Home Performance with ENERGY STAR® program with the special rate is not available to finance the installation of solar systems.  However, Velocity Credit Union’s regular home improvement loan programs can provide financing for solar installations.**

Home Performance with ENERGY STAR® loan program application

Apply if you meet the general program requirements specified above.

* Credit score and credit report source and type determined by Velocity Credit Union’s standard lending practices
** Subject to Velocity Credit Union’s normal underwriting requirements and borrower qualifications
* indicates a required field

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