Some people find themselves very embarrassed to admit that they require some emergency funding to take care of an unexpected expense or bill. The truth is, most people need to look at a loan application at some point in their lives just to make ends meet. As such, it is a good idea to apply for an unsecured personal loan if you are looking for quick cash that does not require collateral.
Companies have made it easier than ever to apply for a quick personal loan online that can open the door to the instant money that you need without too many hoops to jump through. They can answer the question for you “are personal loans good for credit?” and also show you what the average bank loan rate looks like compared to the rate that they are able to offer. Bare in mind that you should still try to pay back your loan as fast as you are able to in order to avoid paying more in interest, but you might find that this has proven to be the very best way to save yourself from the inability to pay a bill or unexpected expense that could also be very costly to you.
As reported in U-T San Diego, America’s Finest City is trying out a new pilot program through the CaliforniaFIRST initiative that gives homeowners loans to make green improvements to their homes. So far, CaliforniaFIRST has received $5 million in loan requests from homeowners looking to reduce their consumption of water and non-renewable energies. Requests for acquiring funds have ranged from energy efficient windows to high efficiency toilets to landscaping that won’t be so draining on California’s dwindling water supply.
Not everyone who has applied for a loan through CaliforniaFIRST will be accepted, and that’s why so many other companies are joining the fray. Renovate America’s HERO loan and Figtree Financing’s OnDemandPACE are now accepting applications from San Diego residents, effectively putting themselves in direct competition with CaliforniaFIRST.
Green Homes Increasingly Valuable, Gain Global Popularity
Demand for loans to fund green home improvements is part of a global trend. According to a recent report from the U.S. Green Building Council, the number of homes with Leadership in Energy and Environmental Design (LEED) certification has skyrocketed in the last few years, with an estimated 150,000 homes now certified LEED certification is increasingly seen as the way to go when it comes to building structures to the highest green standards.
“”I’m all for competition among loan providers to encourage homeowners to upgrade the efficiency of their homes,” says Guy Semmes, President of Hopkins and Porter, a custom home builder in the metro DC area. “There’s a lack of competition in the DC area because the current utilities are providing incentives for homeowners to make energy efficiency changes to their homes. In areas where this isn’t available, I think this is a good thing.”
The increased popularity of and demand for green homes is pushing their value through the roof. While overall the U.S. housing market is standing on atrophied legs, the value of green homes has increased by 9% — that’s in stark contrast to more traditionally built options on the market. This, coupled with the desire to reduce environmental impact and reduce spending on utilities, is driving an increasing number of people, both in San Diego and elsewhere, to seek out affordable options for joining the green revolution.
If your state offered similar loan programs for green home improvements, would you go for it? Tell us why or why not in the comments below.