PACE Financing
Property Assessed Clean Energy (PACE) is a financing mechanism that allows homeowners to pay for upgrades that will make their homes more energy-efficient and environmentally friendly. These improvements can include installing a new roof, doors, and windows, and upgrading insulation, or HVAC. The financing is available at an affordable monthly rate, and the debt is repaid through property taxes. PACE financing may have a long payback period, usually from 10 to 20 years, depending on the amount financed, interest rate, and length of time the improvement is used.
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What Are the Most Important Features of PACE Financing?
PACE Financing Program is implemented to help more people afford upgrades that will make their homes more efficient and more resilient.
The PACE assessment is a debt of the property, not personal. The lien for the assessment will stay with the property until it is paid off.
PACE financing covers the entire cost of a project and is repaid over 20 years through an assessment tacked onto the property’s tax bill.
PACE offers unique advantages including low, fixed rates, no upfront costs, and no prepayment penalties.
Approval is based primarily on equity and your ability to pay.
What is PACE financing?
Property Assessed Clean Energy (PACE) is affordable financing that allows property owners to pay for upgrades that increase energy efficiency, harness renewable energy, conserve water, and protect against storms.
Why You Should Choose PACE Funding?
Home Run Financing is the only financing provider in the residential sector offering both PACE and unsecured personal loans for home improvement projects, making us a one-stop for homeowner and contractors.
Quick and Easy Application Process
Immediate Approvals
Flexible Repayment Terms
Financing available for Solar, HVAC, Storm and Roof Improvements
Home Run Loans for Bathroom or Kitchen Remodels and more
Great Benefits Using Home Run Financing
Enjoy up to 100% financing
Home Run Financing will finance up to 100% of your project, up to 20% of the value of your home.
Work with trusted contractors
When you work with a Home Run Financing approved contractor, they only get paid when you’re 100% satisfied.
Approval is quick and simple
PACE financing is based on your ability to pay, NOT on your credit score.
Pay over long term
Home Run Financing offers terms up to 30 years for PACE eligible projects, to help keep payments affordable.
How It Works
What Are The PACE Financing Steps?
Step 1: The first step is checking your eligibility, which is based on a few different things, including how much equity you have in your home, your ability to repay the assessment, and your mortgage payment history.
Step 2: Apply for the program and get approved.
Step 3: Choose a contractor. Fix Up Roofing is an authorized PACE contractor who can professionally upgrade your home.
Step 4: Complete your energy efficiency improvement project with your contractor.
Step 5: When the project is completed, the contractor submits the final funding request and gets paid.
Step 6: Pay the financing annually through property taxes.
Why is PACE the best financing program?
PACE is an innovative form of financing that offers a range of benefits not available through traditional financing options.
Learn more about the benefits of PACE below.
We Offer Financing
If you’re interested in making your home more energy efficient, PACE financing may be a great option for you. With low, fixed interest rates and no upfront costs, PACE can help you cover the entire cost of your project.
To learn more, contact us today!
Is PACE a loan?
Despite some similarities, PACE isn’t a loan. PACE financing does provide you with upfront money which you have to repay over time (with a low interest rate). But because the financing is attached to the property and repaid through your property taxes, it’s classified as a property assessment instead of a loan.
Is PACE a government incentive or discount program?
No. PACE programs are made possible by state legislation and approved by local governments. However, PACE financing is not a government incentive or subsidy program. PACE does not provide any special discounts, government funding, or payment forgiveness to those who opt to use it.