Benefits of PACE Financing
Thousands of homeowners have taken advantage of the Property Assessed Clean Energy (PACE) financing program from Renew Financial to afford their much-needed or wanted safety and energy-efficiency projects. If you are looking for an affordable home improvement financing option, PACE financing might be the solution you have been looking for.
PACE offers sometimes unknown benefits and consumer protections compared to other traditional home improvement financing methods. Check out these benefits to help you determine if PACE is right for your needs:
Using Your Home’s Equity
Cover the costs of critical home improvements using your home's equity and save your hard-earned cash or other sources of income for unexpected expenses.
PACE is property-based financing secured by a lien on the property.
No Minimum Credit Score Required
Your credit score does not have any bearing on qualification. However, you must have a history of paying your taxes and mortgage debt against the property on time.
All of the eligible project costs can be financed through PACE, which eliminates the requirement to pay large out-of-pocket expenses upfront.
Competitive Fixed Interest Rates
With a fixed interest rate, your principal and interest payment will remain the same for the life of your financing.
Finance up to $250,000
Can be used to cover eligible home improvement projects ranging from $5,000 to $250,000.
Long Repayment Terms
Repayment terms of up to 30 years for some projects, leading to lower and more manageable payments.
No Pre-Payment Fees
The PACE assessment can be paid off at any time, or paid-down in increments of $2,500.
Hundreds of Products and Projects Are Eligible
PACE financing covers a wide variety of products and projects including:
- Solar panels
- Roofing & siding
- Air-source heat pump
- Attic & ceiling insulation
- Energy efficient windows & doors
- Impact resistant windows & doors
- Heating, ventilation, and air conditioning (HVAC), and much more!
Discover today if PACE financing from Renew is the right fit for your unique situation. Call us at 844-736-3934 or click HERE to confirm your property's eligibility!
PACE financing is subject to approval. Underwriting requirements and restrictions apply. PACE financing is secured by a lien on the subject property and often required to be repaid upon refinance or sale. PACE financing is private financing that must be repaid in full. PACE financing is not a government subsidy. Renew Financial is a private company and not a government entity. The installation or construction of property improvements financed with a PACE assessment is provided through a home improvement contractor or other third-party provider, and not by Renew Financial or a government entity. Homeowners should perform due diligence before selecting a home improvement contractor. Financing provided in California through Department of Financial Innovation and Protection License No. 60DBO-90653.
All content provided on this blog is for informational purposes only. Renew Financial makes no representations as to the accuracy or completeness of any information found by following any link on this site. Renew Financial is not a financial or home improvement advisor and information contained in this post should not be viewed as legal or financial advice.