FINANCE
Afforabale energy solution for your home or business
FINANCE
Afforabale energy solution for your home or business
Unsecured Financing- Your home does not secure these loans for the money borrowed. Lenders offer various plans, from fixed-rate installment loans with low payments to promotional programs that offer no fees and no interest if the total is paid during the promotional period.
Secured Financing- Secure loans require an asset (typically your home) as collateral for the money borrowed. Generally, these loans have lower interest rates, and their terms are for a more extended period.
PACE FINANCING
A PACE assessment is a debt of property, meaning the debt is tied to the property as opposed to the property owner(s). In turn, the repayment obligation may transfer with property ownership if the buyer agrees to assume the PACE obligation and the new first mortgage holder allows the PACE obligation to remain on the property.
This can address a key disincentive to investing in energy improvements because many property owners are hesitant to make property improvements if they think they may not stay in the property long enough for the resulting savings to cover the upfront costs.
Advantages of PACE Financing
Allows for secure financing of comprehensive projects over a longer term, making more projects cash flow positive.
Spreads repayment over many years, seldom requires an upfront payment, and removes the requirement that the debt is paid at sale or refinance.
Can lead to low interest rates because of the high security of loan repayments attached to the property tax bill.
Helps some property owners deduct payments from their income tax liability.
Be sure to compare different finance options to find the perfect one for you and your home. Call or email us; we will be glad to discuss your options!