HUD PowerSaver Pilot Loan Program
| Date Published |
12/2010
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|---|---|
| Publication Type | Policy Brief
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| LBL Report Number |
LBNL-4555E
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| Abstract |
The U.S. Department of Housing and Urban Development (HUD) recently announced the creation of a pilot loan program for home energy improvements. The PowerSaver loan program is a new, energy-focused variant of the Title I Property Improvement Loan Insurance Program (Title I Program) and is planned for introduction in early 2011. The PowerSaver pilot will provide lender insurance for secured and unsecured loans up to $25,000 to single family homeowners. These loans will specifically target residential energy efficiency and renewable energy improvements. HUD estimates the two-year pilot will fund approximately 24,000 loans worth up to $300 million; the program is not capped. The Federal Housing Administration (FHA), HUD‟s mortgage insurance unit, will provide up to $25 million in grants as incentives to participating lenders. FHA is seeking lenders in communities with existing programs for promoting residential energy upgrades. |
| Secondary Title |
Clean Energy Program Policy Brief
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| Year of Publication |
2010
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| Pagination |
6
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| Publisher |
LBNL
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| Place Published |
Berkeley
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| File(s) | |
| Download citation |