HomeRx Energy Efficient Lending Option

Easy steps for getting a local loan

First National Bank of Durango is excited to partner with 4CORE to provide financing for your energy improvements. HomeRx loans through First National Bank of Durango have a great interest rate and the Bank's loan origination fee is waived (up to $125.00).

Easy steps:

1. Contact 4CORE regarding HomeRx program
2. Arrange for a Home Energy Audit through 4CORE- performed by nationally certified home energy auditors
3. Receive 4CORE HomeRx Detailed Home Prescription.
4. Complete 4CORE HomeRx Improvement Contract with 4CORE detailing work to be done and funds needed to complete work. Reimbursement of your cost of the audit can be included in the contract.
5. Apply for HomeRx loan with First National Bank of Durango. Loan amount can be up to the contracted amount. Provide First National Bank of Durango with copies of two (2)most recent pay stubs and/or two (2) most recent tax returns.
6. Upon loan approval and signing, the following disbursements will be made:  
   * Reimbursement to borrower for the cost of Home Energy Audit
   * Down payment of 20% issued to 4CORE.
7. Open HomeRx checking account with First National Bank of Durango. 
8. Hire contractors (must be from the 4CORE list of approved contractors) and schedule work to be completed.
9. Complete Final Inspection Report with 4CORE.
10. Request disbursement of final payment to 4CORE for further payment to subcontractors. 4CORE will complete all necessary lien waivers

First National Bank of Durango has other loan options available. You may want to consider a Home Equity loan or line of credit if your project includes other home improvements in addition to the energy efficiency needs.

Contact First National Bank of Durango loan officers for more information: 

Nicole Blake 382-5709

Barb Kinney 382-5787

Gary Roberts-Bayfield 382-5639