Property Assessed Clean Energy (PACE) Financing

PACE is one of the most exciting innovations in ‘green’ lending.  The loan attaches to the property itself, not the property’s owner.  Payments are made through an assessment on the property tax bill. If the owner moves it is possible for the loan to stay with the property.   ACEEE has a full description to learn more.

Each municipality and/or county in the state must officially determine whether its citizens will be allowed to participate in PACE.  The municipality then enters an agreement with one of the 3 clean energy districts, and each district has preferred independent PACE lenders they work with.  Missouri and Illinois have both passed PACE-enabling legislation, though Illinois PACE lenders are just beginning to ramp-up. Our lenders in Missouri include:

Renovate America’s HERO program jurisdictions available in in Missouri   

  • No money down and 100% financing possible, depending on home’s available equity
  • Based on property tax payment history, not credit score
  • Fast approvals
  • Flexible 5-25 year terms, depending on area and product
  • Fixed interest rates
  • Paid as part of property taxes
  • Loan is attached to the property and in most cases can remain if one day property is sold
  • Interest paid typically tax deductible

For property in a HERO jurisdiction, to learn approximate loan amount available to you enter email and address at: https://www.renovateamerica.com/financing/check-eligibility

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