Home Performance Loans

Home Performance Super Saver Loans

The Super Saver Loan program has been expanded to cover improvements that might be suggested for customers participating in the Home Performance with ENERGY STAR.

Download a loan application in a .pdf file.

Watch a Home Performance video feature online about the improvements made to a newer home in Columbia.

The Money

Our Super Saver Loan program is financed from the enterprise fund of Columbia Water & Light. No general revenue funds of the city, nor any other forms of public money, are used by the program.

Home Performance Super Saver Loan

This program requires a detailed building assessment from one of our certified contractors. Due to the time and the equipment needed for the assessment, it can cost $250 to $400. Please get quotes from our list of certified Home Performance contractors. The assessment will provide you with recommendations on how to make your home Energy Star rated. For more information about Home Performance with Energy Star please consult our web page.

Loan Parameters

Our Super Saver Loan program is financed from the enterprise fund of Columbia Water and Light. No general revenue funds of the city, nor any other forms of public money, are used by the program.

Super Saver Loans Feature:

fixed, low-interest rates (Interest rate is determined by a weekly index of tax-exempt notes)
no prepayment penalties
payback period depends on type of Super Saver Loan (see comparison chart below)

To qualify, you must:

be a Water and Light electric customer
have a good credit history
own your own home
meet additional requirements and guidelines outlined below

NOTE: Super Saver Loans do not subordinate to other loans you have on your property. If you refinance your current home loan or sell your house, you will be required to pay off the Super Saver Loan before the new home loan can be processed. Please contact us if you have questions about subordination at 573-874-7325 or send us an e-mail (wlmail@GoColumbiaMo.com).

Super Saver Loan Comparison Chart

	Basic Super Saver Loan	Home Performance Super Saver Loan
Loan parameters
Residential electric customer	X	X
Commercial electric customer*	X	Limited Availability
Property owner	X	X
Minimum insulation requirements	X	X
Load Management switch	X	X
Super Saver Loan must be paid off before refinancing mortgage	X	X
Free basic energy audit (by Columbia Water & Light staff member)	X
$10,000 maximum loan with 5 year payback	X
Detailed building assessment ($250 - $400 completed by an approved contractor)		X
$15,000 maximum loan with 10 year payback		X
Efficiency items for loans
Air conditioner or heat pump (minimum SEER rating of 14 or 7.7 HSPF)	X	X
Furnace (along with AC or heat pump)	X	X
Insulation	X	X
Solar water heater	X	X
Ductwork sealing		X
Air sealing		X
Windows		X
Doors		X
Humidifiers

*The amount of money loaned and the energy efficiency items covered for commercial customers depends on the utility’s benefit cost of the upgrades.

Additional Requirements and Guidelines

Tier I Improvements

The specifications in this area must be met to be eligible for the Tier II improvements of the Home Performance Super Saver Loan.

Building and Envelope Sealing: Using the Home Performance Assessment, air leaks along the building envelope must be sealed to achieve the lowest ACH @50 PA possible.

Attic Insulation: A minimum level of R-38 is required. If your home has knob and tube wiring that needs to be upgraded in order to install insulation, financing is also available to finance the project.

Insulate Ductwork: A minimum level of R-13 is required for ducts running through unconditioned spaces.

Floor Insulation: A minimum level of R-19 is required in joist cavities, unless you are creating a conditioned crawl space.

Conditioned Crawl Space: You must insulate exterior foundation walls to a minimum of R-10. All outside air vents must have an automatic temperature control. A 1/1500 ratio for net free vent area to floor area with a 6 mill poly vapor barrier must be installed on the crawl space floor. The sheets of plastic must overlap each other by a minimum of 6 inches and sealed with mastic and tape.

Tier II Improvements

Exterior Wall Insulation: These walls must be insulated to the maximum amount that the house’s construction allows. If the stud cavities are not insulated, blown-in cellulose insulation should be installed to a density of 3.5 to 4.5 pounds per cubic foot.

Heat Pumps: Financing is available for financing a new heat pump or the replacement of an existing one. All financed heat pumps must have minimum efficiency ratings of 14 SEER and 7.7 HSPF. Customers installing a high efficiency heat pump will be offered a reduced electric rate during the months of November through May. Load management switches must be installed on all heat pump installations.

Heating and Cooling Systems: Allows for replacement of a furnace — natural gas, propane, or electric — if it is installed along with a new central air conditioner with an efficiency rating of 14 SEER or higher. Combustion furnaces must have an efficiency rating of 80% AFUE or higher. Loans for furnaces are only available to customers also installing a central air conditioner or heat pump. Load management switches must be installed on all air conditioners. Optional accessories are not eligible for heating and cooling system loans.

Duct Sealing: If accessible, the supply and return ducts must be sealed to achieve the lowest leakage rate possible.

Windows: Newly installed windows must be rated by the National Fenestration Rating Council (NFRC) with a minimum U-value rating of 0.40 and a SHGC rating of 0.55.

Solar Water Heaters: Solar water heaters that provide at least 50% of water heating costs are eligible. Only solar space heating systems that involve active solar heat collectors are eligible for loans. All solar heating projects must be permitted by Public Works and have a completed final inspection. Pool solar heaters are not eligible.

Ready to get started?

Schedule a Home Performance Assessment of your home and complete a Super Saver Loan application. (download a list of certified contractors) Please check which type of loan you are applying for at the top of the application.

Once notified by Columbia Water & Light that your Super Saver Loan is approved you can proceed with completing your project.

After completing all work, make copies of all invoices and contact Water & Light (874-7325) for final inspection. Copies of invoices and equipment ratings are necessary to complete this step. A recorder’s office fee of $27 (the amount is subject to change) will be added to the final loan amount.

You will be contacted by Columbia Water & Light when the check and the loan paperwork are completed (usually within two weeks from final inspection) to arrange an appointment for signing the loan papers at the Water & Light office: 105 E. Ash Street, Columbia, MO.

A photo ID (i.e. driver’s license) is required for each applicant at the loan paperwork signing appointment. Checks are released after the paperwork has been completed at this meeting.

You will receive monthly statements for your loan. You can pay by check or an electronic funds transfer. Payments for your loan should be for the loan only and not include payments for utility bills. There are no prepayment penalties so you can elect to pay the loan off early.

	The Environmental Protection Agency sponsors the Home Performance with Energy Star program.
	The Missouri Department of Natural Resources is the state sponsor of the program.