PACE
Finance Vendor Details
HERO
Lender:
Renovate America
Contact Information
Website:
https://www.renovateamerica.com/financing/hero
Phone: 855-HERO-411
Email: info@renovateamerica.com
Phone: 855-HERO-411
Email: info@renovateamerica.com
Property Types
Program Description
HERO offers funding to LA County homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In Los Angeles County, HERO is a public/private financing program administered by Los Angeles County and implemented by Renovate America.
HERO offers funding to San Bernardino homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In San Bernardino, HERO is a public/private financing program with Renovate America, San Bernardino Associated Governments (SANBAG) and your city or county.
HERO offers funding to Western Riverside homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In Western Riverside, HERO is a public/private financing program with Renovate America, Western Riverside Councils of Government (WRCOG) and your city or county.
HERO offers funding to homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In California, HERO is a public/private financing program with Renovate America, Western Riverside Councils of Government and your city or county.
HERO offers funding to San Bernardino homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In San Bernardino, HERO is a public/private financing program with Renovate America, San Bernardino Associated Governments (SANBAG) and your city or county.
HERO offers funding to Western Riverside homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In Western Riverside, HERO is a public/private financing program with Renovate America, Western Riverside Councils of Government (WRCOG) and your city or county.
HERO offers funding to homeowners for energy efficiency, renewable energy and water efficiency improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years. In California, HERO is a public/private financing program with Renovate America, Western Riverside Councils of Government and your city or county.
Verified by Lender on: 5/4/2017 0
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Financing & Payment Information
Term (years):
5
Minimum Amount:
$5,000
Maximum Amount:
$200,000
Fees:
None
Money Down Required:
No
Repayment Method:
Property Taxes (PACE)
Payment Frequency:
Annual
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects
Funds other energy-related projects
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Immediate
Equity in Property Needed
No
Financial Products
| Lien type | Property Assessment | Property Assessment | Property Assessment | Property Assessment |
| Re-Payment Method | Property Taxes (PACE) | Property Taxes (PACE) | Property Taxes (PACE) | Property Taxes (PACE) |
| Property Types | ||||
| Automatic payment option available | N.A. | N.A. | N.A. | N.A. |
| Requires utility incentive program participation | No | No | No | No |
| Must use Program's pre-approved contractors | Yes | Yes | Yes | Yes |
| One-time fees (% of total financing) | ||||
| One-time fees (fixed) | ||||
| Ongoing fees | ||||
| Financing Amount | $5,000 | $5,000 - $200,000 | $5,000 | $5,000 |
| Financing Term (yrs.) | 5 year(s) | 5 year(s) | 5 year(s) | 5 year(s) |
| Rate | 6.75 - 6.75% | 6.75 - 6.75% | 6.75 - 6.75% | 6.75 - 6.75% |
| Money Down Required? | No | No | No | No |
| Credit Enhancement Available | No | No | No | No |
| Transferrable | Yes | Yes | Yes | Yes |
| Prepayment Penalty or Fee | No | No | No | No |
| Tax Deductibility | Yes | Yes | Yes | Yes |
| Minimum Credit Score Required | ||||
| Equity in Property Required | Yes | Yes | Yes | Yes |
| Debt to Income Ratio Required | No | No | No | No |
| Involuntary Property Liens Allowed | No | No | No | No |
| Foreclosures Allowed | ||||
| Bankruptcies Allowed | ||||
| Mortgage Lender Consent/ Acknowledgement | No | No | No | No |
| Must be current on property taxes | Yes | Yes | Yes | Yes |
| Must be current on mortgage | Yes | Yes | Yes | Yes |
| Loan to value | ||||
| Debt Service Coverage Ratio | No | No | No | No |
| Financing Approval Time | Immediate | Immediate | Immediate | Immediate |
| Projected Energy Savings/Cash Flow is considered | No | No | No | No |
| Must be current on utility bill | No | No | No | No |
Upgrades Covered
No Results
FAQ's
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