Is your home or business in need of a roof replacement that is energy efficient? If you need assistance with paying for your new roof, PACE financing may be the perfect financing option for your project.
PACE stands for property assessed clean energy, and PACE financing works for both residential and commercial properties. The upfront costs of energy efficient improvements can be covered through financing, and then your payments will be paid back through a voluntary assessment.
The benefit of using PACE financing is that rather than being attached to the individual, the assessment will be attached to the property.
Interested in seeing if your property qualifies for PACE financing? Contact us and express your interest in using PACE to get a new roof!
How Do You Repay Your Improvement Costs?
When it comes to PACE financing, those who choose to voluntarily enroll in a PACE financing project will typically have their payments spread out throughout the course of 10 to 20 years. The payments are made in addition to property tax bills and are considered a debt of property.
Therefore, the PACE financing payments may be transferred to a future property owner if you decide to sell your property, and the buyer agrees to continue with the PACE payment obligations. This can be a great option for those who want to make their property more energy efficient but are not sure if they will be staying in that property for years to come.
Our roofing contractors are trained to walk you through your interest rate, and terms of financing your energy efficient re-roof. Schedule a consultation to find out more information!
What Are the Benefits of Using PACE Financing?
The financing occurs over a long period of time – typically 10 to 20 years which results in your projects being cash flow positive. Another benefit is that there are no upfront payments. With PACE financing, interest rates may be low because the security of loan repayments that are attached to your property tax bills are high. You may also have the opportunity to deduct payments from your income tax liability.
Did we mention there are no down-payments? Email us to learn more about this unique county-based program.
What are the Cons of Using PACE Financing?
One deterrent is that PACE financing is only available to those who are property owners. PACE financing is also not appropriate for any investments that are below the $2,500 mark, and it requires both administrative and legal setup obligations.
PACE eligibility is also based on what county you live in. Currently only select counties and cities within those counties qualify. Contact us to see if your property is in a participating county.
Why Use PACE Financing Over Other Financing Options?
- There is not a minimum FICO score requirement
- The contractors must be PACE certified contractors, ensuring quality project completion
- There is a fixed interest rate
- The interest rate is determined based on the repayment term rather than personal credit
Think You May Be Interested in Using PACE Financing for Your Roofing Project?
Goodfriend Roofing has over 14 years of experience, and we are a state licensed and insured roofing company. We have experience in both residential and commercial roofing, and we put quality into each and every roofing job that we complete.
As a PACE certified roofing contractor, we truly value our clients and will do anything we can to make sure you are completely satisfied.
If you’re ready to get started, contact us today!