The National Energy Improvement Fund (NEIF) launched the NEIF Home Energy Improvement Plan to homeowners in Connecticut, Delaware, Maryland, New Hampshire, New Jersey, New York, Pennsylvania, and West Virginia, according to a news release from the organization. The plan includes improvements such as heating and cooling, windows, doors, siding and roofing, and whole-home energy projects completed by NEIF-approved contractors who have been vetted for business practices and financial stability.

Applications are decisioned instantly, the process is paperless, and contractors are paid when work is completed to the customer's satisfaction. The interest rate and monthly payment are locked in for the full term of the loan, up to ten years, longer than typically available for unsecured loans from traditional lenders. All homeowners who are making qualifying improvements to their primary residence or vacation home are eligible to apply.

The NEIF Home Energy Improvement Plan addresses a basic market need. Home energy improvements are expensive, and many homeowners delay the upgrade or install the cheapest, least efficient model possible. Credit cards, short-term promotional financing offered by manufacturers, or cumbersome traditional financing don't address the needs of many buyers and contractors looking for rapid, in-home credit decisions and longer-term monthly payment affordability for major capital purchases like energy-related home improvements. Many competitive lending options are adjustable rates, even some that appear to be fixed-rate but that can change to a higher rate after a promotional period or under other circumstances.

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