Low-Interest Financing for Rental Properties in Washtenaw County
The a2energy Loan Fund for Rental Housing offers eligible rental properties access to low-interest financing for energy efficiency retrofits, such as insulation, air sealing, HVAC upgrades, and select ENERGY STAR products. Note: The City of Ann Arbor is not actively promoting this project but it still may be available for eligible properties. Contact the Ann Arbor Energy Office for more details at firstname.lastname@example.org.
LOAN FUND BASICS
Financing for up to $8,000 per property
Interest rates between 2% and 3.5% — reduced rates available for certain project types
Terms between 12 and 36 months
Properties must contain 1 to 4 units.
Property must be located within Washtenaw County.
Property must be in compliance with local rental housing inspection program, if applicable.
will be given to properties that require tenants to pay gas and electric utilities.
Owner may only occupy one of the units in a 2- to 4-unit building.
1-unit buildings must be tenant-occupied.
HOW TO GET STARTED
Sign up using the contact form to get started.
- Complete a Program Application [view sample pdf of program application] and a W-9 that staff will send to you.
- Submit utility data. Visit "Submitting Utility Data" for a range of options on how to provide data.
You will receive an email invitation from Experian to purchase a credit report at a discounted rate of $14.95. Follow your invitation link to purchase this report and share the report results with program staff.
Await notification from program staff of approval to proceed with loan program.
ONCE YOU'RE APPROVED
Obtain a bid or bids from
Michigan Saves-authorized contractor(s) to perform the work. See
Eligible Measures [pdf] for more information.
Complete a Loan Application [coming soon]. Interest rates vary by length of loan and project type. For most projects, the rates are:
Schedule your retrofit with your contractor(s).
12-month term – 2.00%
24-month term – 2.75%
36-month term – 3.50%
Rate discounts may apply for special project types.
AFTER PROJECT COMPLETION
- Complete the Project Completion Form [coming soon].
- Finalize loan terms with Program Staff.
- Sign Loan Closure Documents [coming soon] and set up automatic monthly payments.
- Program Staff will pay contractor(s) directly within one week of loan closure.
The loan fund is supported by a U.S. Department of Housing and Urban Development (HUD) Sustainable Communities grant to Washtenaw County and a University of Michigan Dow Distinguished Award for Sustainability.