Once you receive approval, which can happen in as little as a few minutes, you’ll need to sign and return the financing documents that CalFIRST will send you. Typically, your project will be financed for 100% of the costs of the project, so there’s generally no need to pay anything out of pocket.
Next, your contractor will get started on your chosen home energy efficiency upgrade projects. When they’re finished, CalFIRST will pay them in full directly.
When it comes to paying back the financing, you’ll be offered flexible repayment plans between 5 and 30 years. The amount is conveniently tacked onto your property tax bill so you don’t have to worry about yet another bill to pay. And, if you move before you have a chance to pay it off, the remaining balance can be easily transferred to your new home’s property tax bill.