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Be SMART Home Efficiency Loan Program

Last Review: 2013-02-15
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Refrigerators, Ceiling Fan, Equipment Insulation, Water Heaters, Lighting, Furnaces, Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Custom/Others pending approval
Applicable Sectors: Residential
Terms: Unsecured loans with 3, 5, or 10 year term; interest rate of 4.99% for Be SMART Home Complete loans; 6.99% for Be SMART Home Energy Star
Incentive Amount: Varies
Website: http://www.mdhousing.org/website/programs/BeSmart/Home.aspx


Note: The eligible technologies listed above are only examples of some improvements that might be supported under this program. Other improvements may be eligible.

Under the Be SMART Homes program, the Maryland Department of Housing and Community Development offers loans to homeowners for energy efficiency retrofit projects in their primary residence. The program offers unsecured loans of up to $15,000 with terms of 3, 5, or 10 years. Interest rates vary depending on which type of loan a homeowner chooses:

  • Be SMART Home Energy Star, which supports appropriate heating and cooling and purchases of Energy Star appliances, has a 6.99% interest rate.
  • Be SMART Home Complete, which supports a wide variety of efficiency improvements based on the results of a required energy audit, has a 4.99% rate. 

Participants of either loan option must work with a program-approved weatherization contractor. In addition, in order to qualify for a loan, residents must have a credit score of at least 640, a debt-to-income ratio of 50% or less, and have their income level verified.

Separate energy efficiency loan programs exist under the Be SMART initiative for energy efficiency in multi-family buildings and business properties. Please see the program web site for additional details.

This program is part of the U.S. Department of Energy's (DOE) Better Buildings Program. The DOE has awarded over $500 million in federal funds to more than 40 states, local governments, and organizations to administer local programs targeting a variety of building types. Combined, these local programs are expected to improve the efficiency of more than 170,000 buildings through 2013 and save up to $65 million in energy costs annually.

Program Administrator - Be SMART Homes Efficiency Program
Maryland Department of Housing and Community Development
100 Community Place

Crownsville, MD 21032
Phone:(410) 514-7989 Ext.
Phone 2:()
Email: besmarthome@mdhousing.org
Web site: http://www.mdhousing.org/besmart


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