Payment/Financing Options

What is the PACE program in Florida?

PACE is a long term, fixed rate source of financing that allows homeowners to do energy conservation and hurricane hardening improvements to their property. Property owners can use PACE financing to cover 100% of the costs involved in installing eligible projects, including all related equipment, materials and labor.

What is the interest rate on a pace loan?

With PACE from Renew Financial, interest rates range from 3.69% to 8.49%. Compared to a credit card, interest rates are variable ranging from 13% up to 27%.

How do you qualify for a PACE loan?

Property owner must be current on mortgages with no notice of default for the last five years. Property owner must not have a record of bankruptcy for at least five years prior to application. Property cannot be subject to bankruptcy. Property cannot have any involuntary liens.

Is Pace a government 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.