Top 10 Benefits of PACE Financing

July 20, 2020

Thousands of homeowners are taking advantage of the Property Assessed Clean Energy ("PACE") financing program from Renew Financial (“Renew”) to afford their much-needed or wanted home improvements that make their homes more comfortable, safe, and energy-efficient. 

The benefits of PACE financing are becoming more evident and particularly important for homeowners, specially under the current economic circumstances. Despite the low interest rates, banks are narrowing lending standards across the board, making it increasingly challenging for homeowners to get access to the financing they need to complete their critical home improvement 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 many, sometimes unknown, benefits and consumer protections over other traditional home improvement financing methods.  Check out the top 10 benefits to help you determine if PACE is right for your needs. 

Top 10 Benefits of PACE financing: 

1. PACE financing enables you to tap into 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.

2. No payment due until November 2021

PACE assessments funded on or after July 2020 will not have a payment until November 2021

3. PACE is Property-Based Financing

PACE is property-based financing secured by a lien on the property. As a result, the PACE assessment does not get reported as a credit obligation in your credit report

4. 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 time1

5. 100% Financing

All of the eligible project costs can be financed through PACE, which eliminates the requirement to pay large out-of-pocket expenses upfront

Enjoying the Benefits of PACE Financing

6. PACE Offers Competitive Fixed Interest Rates     

7. Access up to $250,000

PACE financing can be used to cover eligible home improvement projects ranging from $5,000 to $250,000

8. Long Repayment Terms

PACE financing offers repayment terms of up to 30 years for some projects, which leads to lower and more affordable payments

9. No Pre-Payment Fees

The PACE assessment can be paid off at any time, or paid-down in increments of $2,500

10. Hundreds of Products and Projects Are Eligible

PACE financing covers a wide variety of products and projects including: 

  1. Solar panels
  2. Roofing & siding
  3. Air-source heat pump
  4. Attic & ceiling insulation
  5. Energy efficient windows & doors
  6. Impact resistant windows & doors
  7. Heating, ventilation, and air conditioning (HVAC), and much more!

Enjoying the Benefits of PACE Financing LR

 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 and obtain a maximum financing amount in minutes! Doing so will not affect your credit score or obligate you to obtain financing.2 
 



Important Disclosures:
1 PACE financing is subject to credit approval. Underwriting requirements may vary and are subject to change. Additional underwriting requirements and restrictions apply. PACE financing 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. 

2 Checking your property’s eligibility and obtaining a maximum financing amount does not obligate you to obtain financing. If you wish to obtain a maximum financing amount, Renew Financial will check your credit report by pulling a soft inquiry. A soft inquiry enables Renew Financial to view the information contained in your credit report without affecting your credit score. A soft inquiry may appear in your credit report, depending on the credit bureau, but unlike a hard inquiry it does not affect your credit score.