Submitted by nick on Sun, 07/21/2019 - 9:41pm

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.

How does PACE Work?

  • Get Prequalified
  • Find contractor for project
  • Complete upgrade project with contractor
  • Repay through property taxes
  • 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 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.

    What determines my eligibility for PACE?

    PACE eligibility is based on a variety of factors, primarily the amount of equity you have in your home, your ability to repay the assessment, and your mortgage payment history.

    What determines my eligibility for PACE?

    PACE eligibility is based on a variety of factors, primarily the amount of equity you have in your home, your ability to repay the assessment, and your mortgage payment history.

    Why is PACE a good financing option?

    PACE financing is a nontraditional type of financing that combines some of different financing options into one. See some of the many benefits of PACE below.

    PACE

    Fair and easy process to improve your home

    1,1,1,1,1,1

    Traditional Loan/Mortgage

    0,1,0,0,0

    Credit Card/ Unsecured Credit

    0,0,0,0,0

    HELOC

    (Flexible line of credit)

    0,0,0,0,0
    PACE Financing
    Approval not based on credit score
    Low interest rates (regardless of credit score)
    Fixed rates
    Spread cost over life of product (up to 30 years)
    Will not affect your credit score

    What projects qualify for PACE?

    Over a hundred home and commercial improvement projects qualify for PACE financing.

    Solar
    Solar PV System
    Solar Pool Heating
    Solar Water Heating
    Windows & Doors
    Energy-Efficient Windows
    Energy-Efficient Doors
    Skylights
    Roofing
    Cool Roofing
    Green Roofing
    Roof Replacements
    Storm Protection
    Florida
    Impact Windows & Doors
    Storm Shutters
    Wind Resistant Roofing
    Solar
    Solar PV System
    Solar Pool Heating
    Solar Water Heating
    Windows & Doors
    Energy-Efficient Windows
    Energy-Efficient Doors
    Skylights
    Roofing
    Cool Roofing
    Green Roofing
    Roof Replacements
    Storm Protection
    Florida
    Impact Windows & Doors
    Storm Shutters
    Wind Resistant Roofing

    Ygrene customers love PACE

    “It’s important that our kids are comfortable, and we’ve noticed an immediate benefit in terms of cost per month for electricity.”
    Ted Allen, Coral Gables, FL

    Want to know more? Dig into the facts

    PACE Basics: 5 Things You Need to Know
    You've probably heard a bit about the Property Assessed Clean Energy, Program also known as the PACE Program. But sometimes...Read more
    window replacement
    9 Facts About Qualifying for PACE Financing
    Property assessed clean energy (PACE) financing helps homeowners afford many home improvements. Administered at a local...Read more
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    The Beginner's Guide to Getting Started with PACE Financing
    Property assessed clean energy, better known by the acronym PACE, is a financing mechanism allowing homeowners to fund...Read more

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