What the Florida Energy HEAT Loan Actually Is
The Florida Energy HEAT Loan is a 0% APR unsecured loan that finances energy efficiency upgrades on Florida residential properties. "HEAT" stands for Home Energy Assistance Team. The loan is funded by participating Florida banks and credit unions, with Florida Energy buying down the interest to 0% on the homeowner's behalf.
It is not a IWD Miami product, not a Florida Energy program direct loan, not a HELOC. It is a third-party loan with subsidized interest. The homeowner makes monthly payments to the participating lender, exactly like any other personal loan — except the rate is 0%.
Terms and Limits
- Interest rate
- 0% APR for the entire loan term. No rate-reset, no escalation.
- Maximum amount
- $25,000 per project. Higher amounts in some scenarios for income-eligible homeowners or whole-home electrification packages.
- Term
- Up to 7 years. Most homeowners select 5–7 years to minimize monthly payment.
- Origination fees
- None. The HEAT Loan has no application fee, no origination fee, no prepayment penalty.
- Eligible upgrades
- Heat pumps, insulation, air sealing, heat pump water heaters, ENERGY STAR windows, high-efficiency boilers (in some cases), solar paired with electrification, panel upgrades enabling electrification.
- Eligible properties
- 1–4 unit Florida residential properties. Must be the homeowner's primary residence or a long-term rental.
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How HEAT Loan Stacks with Florida Energy Rebate and Federal Credits
The HEAT Loan is designed to be stacked. A typical Florida heat pump install:
- Investment before rebate: $24,800
- Florida Energy rebate: –$9,400 (filed by IWD Miami, posts 4–8 weeks after install)
- HEAT Loan financing: $15,400 at 0% APR over 7 years = $183/month
- Federal 25C credit: –$2,000 (claimed on your next federal tax return via IRS Form 5695)
- Out-of-pocket at install: $0
Most homeowners pay the loan off ahead of schedule with the Florida Energy rebate check and the next-year federal tax credit refund. The point is: the financing exists so you do not write a check at install.
How to Apply
IWD Miami files the HEAT Loan paperwork as part of the standard rebate-eligible project scope. Sequence:
- Sign the IWD Miami contract. We submit the project details to a participating Florida Energy HEAT Loan lender (typically a Florida credit union).
- The lender pulls a soft credit check. Approval is typically 1–3 business days. Underwriting requires a Florida Energy program-eligible scope and a Florida residential property.
- You sign the loan documents. Funds disburse direct to the contractor (IWD Miami) at install milestones, or as a single payment at project completion depending on the lender.
- Monthly payments begin 30 days after disbursement. You can pay off the loan at any time with no penalty — most homeowners use the Florida Energy rebate check and federal credit refund to accelerate payoff.
What the HEAT Loan Will Not Do
- Not for non-eligible projects. If the underlying project is not Florida Energy program-eligible (kitchen remodel, addition, deck), HEAT Loan financing is not available.
- Not a credit-rebuild tool. Underwriting is real — typical approval threshold is mid-600s FICO. Income verification required.
- Not a substitute for the rebate. The HEAT Loan finances what you owe after the rebate; it does not replace the rebate.
- Not stackable across non-eligible scope. If you bundle heat pump install with a kitchen remodel, only the heat pump portion is HEAT Loan-eligible.