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Austin Energy Loans

Get low-cost financing at favorable terms for specific energy-related improvements, courtesy of Velocity and Austin Energy.

Austin Energy® Home Energy Savings program

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 Energy Savings program.

Find Out If You Qualify Here
(Then click the eligibility tab .)

General program requirements

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

Checkmark​  You must be the owner of 10-year-old or older single-family home, condominium, town home, duplex, triplex, fourplex, or rental property serviced by Austin Energy.

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

Checkmark  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.

If you qualify, apply now!

Apply Here

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

For borrowers who qualify, we’re offering loans with a fixed interest rate as low as 1.99% APR and loan repayment terms of 5 or 10 years (with no prepayment penalty) depending upon the loan amount. 1st payment can be set up to 90 days out.

To qualify for the special 1.99% 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*.

Curious about loan amounts, terms, and sample payment amounts? Take a look:

Loan Rates Learn More

Frequently Asked Questions

What happens if I 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 Energy Savings program, but don’t qualify for the special APR, may qualify for home improvement loans.

Can I 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 Energy Savings 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.**



*Credit score, 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.
A red * indicates a required field