To Qualify, Applicant must:
- be an SVEC member (name must be on electric account);
- have resided at the location for at least 12 months;
- must have a good payment history with SVEC;
- must own the home and the property where the heat pump will be installed (deed to land must be in applicant’s name);
- must be in good credit standing;
- have a driver's license or photo ID and present it when submitting application.
Applying for a heat pump loan from SVEC is quick, easy and affordable!
After submitting your application, a SVEC Heat Pump Loan Specialist will contact you to obtain further information. Please note your application is not complete until you speak to the member service specialist.
Applicant(s) understand(s) that Applicant(s) must provide and maintain satisfactory security arrangements for the heat pump program financing which may make it more difficult to obtain other types of mortgage financing for the home.
- Applicant(s) must reveal any outstanding balances for any prior heat pump financing. Loan request reflects the maximum amount allowed reduced by any outstanding amount for existing loans (administered by Sequachee Valley Electric Cooperative).
- Upon receipt of this application, an SVEC representative will contact Applicant(s) to verify and obtain additional information.
- Applicant’s agree to pay a non-refundable $25.00 application fee prior to the application being reviewed by SVEC.
- By submitting an application, SVEC is authorized to check Applicant(s) credit and employment history in order to answer questions about Applicant(s) credit experience. Applicant(s) understand(s) that providing a social security number is not required to be considered for program financing, but will assist in making an informed judgment concerning Applicant(s) application and is needed to expedite consideration of the application.
- Applicant(s) will answer each question as correct and to the best of Applicant(s) knowledge.
- Applicant(s) understand that SVEC will retain this application whether or not it is approved.