One of the main hurdles homeowners face in getting hurricane protection improvements is the lack of simple, affordable financing options. Home equity loans or consumer lines of credit depend on FICO scores, and the approval process can take time and may end with a denial.
This is where property assessed clean energy (PACE) financing from Ygrene can help, providing property owners access to no-money-down, 100% financing for energy efficiency, renewable energy, and hurricane protection upgrades. Some of the most common improvements financed through PACE are impact-resistant windows and doors, roofing, HVAC, and solar panels. With Ygrene, approval can happen in as little as 30 minutes and eligibility is based on home equity(among other factors), not on the property owner’s credit score, proof of employment, or financial statements.
Repayment is made through an addition to homeowner property taxes, with terms up to 20 years. Other benefits include no payments for up to 17 months and all work being done through Ygrene-certified contractors, who won’t receive final payment until the job is completed. In an event of a sale, the PACE payment may transfer to the new owner, but most mortgage lenders require full repayment of the PACE lien upon resale or refinance.
As Florida’s largest PACE provider covering nearly half of Florida, Ygrene has financed more than 15,000 projects totaling $318 million, including thousands of hurricane protection projects. Now it’s easier than ever to get ready for the next hurricane season with fast and easy, affordable financing for improvements that will protect homeowners’ most valuable assets – their homes and families.