So, how do we make it work?
We offer eligible homeowners unsecured, personal loans for prequalified energy measures or improvements recommended by a whole-home energy assessment. We do this by partnering with authorized residential lenders to offer competitive, low-interest financing up to $50,000. Homeowners are eligible for below-market interest rates with flexible terms up to ten to 15 years with no penalty for early repayment. Actual rates, terms, and loan amounts depend on the selected lender and the borrower’s creditworthiness.
The only cost to you is a low fee assessed on any loan, which is less than what you would pay if your customers used credit cards or other forms of financing. Michigan Saves makes this process easy.
Residential Loan Process
What county do you live in?
How much do you want to borrow?
Available Lenders and Offerings
Loan terms are one year for every $1,000 up to $4,999. For loans $5,000 and higher, customer may select term up to ten years (or higher if applicable). There are no annual or early repayment fees.
| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$50,000 | 8.40% | Up to 180 | |||
| All Michigan Counties | |||||
| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$50,000 | 7.99% | Up to 180 | |||
| All Michigan Counties | |||||
| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$75,000 | 7.49% | Up to 180 | |||
| Barry, Calhoun, Clinton, Eaton, Genesee, Gratiot, Ingham, Ionia, Jackson, Lapeer, Lenawee, Livingston, Macomb, Monroe, Montcalm, Oakland, St. Clair, Shiawassee, Washtenaw, Wayne | |||||
| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$60,000 | 7.75% | Up to 180 | |||
| All Lower Peninsula Counties | |||||
| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$100,000 | 6.90% | Up to 180 | |||
|
All Lower Peninsula Counties MSUFCU preferred contractor network Lender does not participate in the centralized loan application center. Please contact your contractor to apply. |
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| Amounts | Rates As Low As | Terms (months) | |||
|---|---|---|---|---|---|
| $1,000—$100,000 | 8.25% | Up to 180 | |||
| All Michigan Counties | |||||
*All Michigan Saves authorized lenders offer programs for “good” credit and above. These lenders consider lower credit scores.
**Actual rates, terms, and loan amounts vary and depend on market conditions, the lender you choose, and your creditworthiness.
