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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.

Loan Programs

Austin Energy® Home Performance 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 Performance with ENERGY STAR® program.

Find Out If You Qualify

 

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

 

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 45 days out.

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*.

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

Loan Amount Term (months) Rate Payment Range 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

Apply now by filling out the form below.

 

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 Performance with ENERGY STAR® 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 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.**

Solar Residential

Are you thinking about going solar? A solar residential systems is a clean, quiet, and efficient way to generate renewable energy at your home. Austin Energy provides solar education to help you become an informed shopper and offers a rebate to help you with your purchase.

Austin Energy wants you to have a great experience, and to make the best investment possible.

With the Austin Energy Solar Residential Rebate Program you can:

  • Reduce your energy bill.
  • Improve our environment.
  • Get the knowledge you need to make an informed decision.
  • Earn an Austin Energy rebate of $2,500.
LOAN AMOUNT TERM (MONTHS) RATE PAYMENT RANGE APPROXIMATE MONTHLY PAYMENT PER $1,000 FINANCED
Up to $20,000 60 5.50% Up to $383 without insurance $19.15
Up to $20,000 120 5.99% Up to $222 without insurance $11.10
  • Minimum 660 credit score.
  • Max loan amount of $20,000.00.

Check your eligibility and learn more about the solar heating program at Austin Energy. When you’re ready, apply below!

Home Performance with ENERGY STAR®

Austin Energy® Home Performance 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 Performance with ENERGY STAR® program.

Find Out If You Qualify

 

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

 

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 45 days out.

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*.

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

Loan Amount Term (months) Rate Payment Range 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

Apply now by filling out the form below.

 

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 Performance with ENERGY STAR® 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 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.**

Solar Residential

Solar Residential

Are you thinking about going solar? A solar residential systems is a clean, quiet, and efficient way to generate renewable energy at your home. Austin Energy provides solar education to help you become an informed shopper and offers a rebate to help you with your purchase.

Austin Energy wants you to have a great experience, and to make the best investment possible.

With the Austin Energy Solar Residential Rebate Program you can:

  • Reduce your energy bill.
  • Improve our environment.
  • Get the knowledge you need to make an informed decision.
  • Earn an Austin Energy rebate of $2,500.
LOAN AMOUNT TERM (MONTHS) RATE PAYMENT RANGE APPROXIMATE MONTHLY PAYMENT PER $1,000 FINANCED
Up to $20,000 60 5.50% Up to $383 without insurance $19.15
Up to $20,000 120 5.99% Up to $222 without insurance $11.10
  • Minimum 660 credit score.
  • Max loan amount of $20,000.00.

Check your eligibility and learn more about the solar heating program at Austin Energy. When you’re ready, apply below!

Austin Energy Loan Program Application

Apply if you meet the general program requirements specified above.
Type of Loan: Choose from Austin Energy Home Performance with ENERGY STAR® or Austin Energy Solar Residential

 

DISCLAIMERS:

*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.
* indicates a required field