Community Benefit Financing: PACE
Mary Kathryn Lynch, our CFO, spoke at the 2021 Wall Street Green Summit about the importance of having community benefit financing models like the Property Assessed Clean Energy (PACE) program available to property owners across all levels of the credit score and income spectrum. With community benefit financing property owners receive financing at affordable rates and terms, based on the long-term benefit to the individual and the community, as well as other factors such as the equity of one’s home or goods.
PACE financing was created with one goal in mind – to bringing to market an affordable home improvement financing option that allowed all property owners, even those who did not fit in the box of traditional financing underwriting standards, to finance their eligible home improvement with a competitive fixed interest rate and terms as short as 5-yrs and up to 30-yrs for some projects. Property owners can use the PACE program to finance hundreds of projects and products, including but not limited to:
- Windows and doors
- Heating, ventilation, and air conditioner (HVAC)
- Hurricane protection
- Earthquake protection
- Solar panels
- Water heaters
- And much more!
Click HERE, if you need home improvement financing, or call us at 844-736-3934 to learn more and find out if you and your property are eligible for PACE financing.
PACE financing is subject to credit approval. Underwriting requirements and restrictions apply. PACE financing is secured by a lien on the subject property and may be required to be repaid upon refinance or sale. Homeowners should perform due diligence before selecting a home improvement contractor. PACE financing is private financing that must be repaid in full. PACE financing is not a government subsidy. Homeowners are encouraged to use PACE financing responsibly. Names or trademarks used above are the property of their responsive owners.