Creve Coeur Residents Can Now Get Energy Friendly Loans

residents are now eligible for a new, low-interest loan program announced last month by St. Louis County officials.

Through St. Louis County SAVES (Sustainable and Verifiable Energy Savings), qualified applicants can borrow between $2,500 and $15,000 at a 3.5-percent interest rate to make energy-efficient home improvements. The loans can be used for projects that could help reduce utility bills, including air and duct sealing, new windows, doors and roofs and high efficiency heating/air-conditioning and water heating equipment.

Applicants must live in St. Louis County in an owner-occupied home, have a credit score greater than 660 and a debt-to-income ratio of 45 percent, among other requirements. The loan’s annual percentage rate will vary depending on the amount and length of the loan.

Council members had to approve the program because it will be marketed by the city of Creve Coeur. A spokesperson said as of Thursday, Creve Coeur was one of 16 cities in St. Louis County to have agreed to participate in the program.

For more information, go to the St. Louis County SAVES website.