If you own real estate in New York State, you may qualify for an interest relief payment from the New York Energy Smart Loan Fund if you plan to make an investment of any kind towards improving the energy efficiency of your property. Payment comes in the form of a lump sum to the lender (not to you) when a loan for a particular renovation or installation of an energy efficient service has been blessed by an approved lender. The interest relief is then passed on to you on payments over the full period of the loan. The purpose of the program (administered by NYSERDA) is to offer interest rate reductions on any loan that aims to increase the energy efficiency of a property.
July 10th, 2008 | Stephen Del Percio | 0 comments | Continued