Ygrene offers a unique financing solution for homes and companies that want to be energy efficient, water conscious and incorporate renewable power sources. The program, called Property Assessed Clean Energy (PACE), has no down payment requirement; instead, the property pays an annual fee based on assessed property values, so you can repay your loan with your taxes.
A smart alternative to traditional financing, Ygrene eligibility is based on the available equity in your home and your ability to pay, not on your FICO score. Fixed rates and flexible terms for up to 30 years are available, depending on the service area and the renovation life estimation.
So, if you're looking for a smarter way to finance your home or business improvements, look no further than Ygrene. With its innovative PACE and C-PACE financing solutions and flexible terms, it's the perfect choice for anyone who wants to go green without breaking the bank.
FAQ Residential Homes:
How does PACE work?
It’s simple! Get approved, find a contractor for the project, complete the project, and repay over time through your property taxes.
Is PACE a loan?
PACE is not a bank, and financing is not a loan. It provides you with upfront money that is repaid over time as a line item on your property taxes, with a low fixed interest rate. But since the financing is attached to the property and repaid through your property taxes, it’s classified as a property assessment rather than a loan.
Is PACE a government incentive or discount program?
PACE programs are made possible by state legislation and approved by local governments. However, PACE financing is not a government incentive or subsidy program. PACE does not provide any special discounts, government funding, or payment forgiveness to those who opt to use it.
What determines my eligibility for PACE?
PACE eligibility is based on several factors, including your geographical location, the amount of equity you have in your home, your ability to repay the funds, and your mortgage payment history. To find out more about how to get approved, visit Ygrene’s website.
Why is PACE a good financing option?
- Approval is not based on credit score
- Low, fixed interest rates
- Spread the cost over life of the upgrade, up to 30 years
- Payment to contractor only when the project is complete
- Delayed first payment for up to 17 months
- Helps you fund roofing projects that can lower your insurance premiums
What projects qualify for PACE?
Solar, windows and doors, roofing, storm protection, HVAC, alternative energy, lighting and more!
Who do I contact for more information on qualification?
Call 866-634-1358 for more information.
FAQ Commercial Spaces (C-PACE):
What types of properties qualify?
Most commercial property types quality for C-Pace funding, from small and medium retail to large industrial complexes. Industrial, hospitality, mixed-use, office, retail, and multifamily buildings are examples of commercial spaces that can qualify for financing.
While most commercial building types can qualify for C-PACE funding, there are some notable exceptions, including:
- Government-owned or municipal buildings
- Properties that have property tax delinquency (current or historically); learn more
- Properties that have serious environmental remediation issues
- Properties not located in a state that allows C-PACE funding
What types of building improvements qualify?
Solar PV systems, energy storage, roof installation, seismic retrofit, lighting, EV charging stations, windows and doors, HVAC, plumbing systems, backup generators, drought-tolerant landscaping and more!
What are the financing benefits for my commercial property?
- 100% project financing
- Up to 20 years- fully-amortized terms with fixed rates
- No payments for up to 12 or more months
- Eligibility based primarily on property equity
- Qualify up to 100% CLTV
- Non-recourse financing can be off balance sheet
How does it increase property revenue?
It generates positive cash flow with improvements that help increase lease rates and property value.
How will it enhance business continuity?
It will keep your business running with backup power systems and extended financing terms to minimize service interruption and cash flow burden.
How does it lower energy use?
C-PACE allows property owners to make building upgrades that can help reduce your building’s energy/water consumption and utility bills while lowering your operating costs.
What if I already paid for PACE eligible property improvements?
You can recover cash from investments you’ve already made when improving a building. Call 866-634-1358 to learn more.
What is the societal and economic impact?
Reducing operating expenses from C-PACE projects helps businesses compete locally and globally while creating jobs, avoiding natural disaster loss and reducing detrimental environmental impact.
While PACE programs are enabled by state legislation and must be approved by your local government, Ygrene is not a government program. Subject to underwriting guidelines and approval; deferral of first payment depends on date of funding; interest accrues during entire deferred payment period. Terms of 10, 15 and 20 years are valid in all Ygrene service areas; 25 and 30 year terms are available depending on service area as well as type and estimated useful life of the improvement. While Ygrene does not consider your credit score, we will pull your credit during underwriting in order to determine your eligibility.