HERO Financing for Energy and Hurricane-Resiliency Home Improvements Now Available to Over Three Million Florida Households
HERO, the nation's leading form of Property Assessed Clean Energy (PACE) financing, empowers property owners to make energy-efficiency, renewable-energy and hurricane-resiliency improvements to their homes with no money down. Homeowners then pay for the upgrades over terms of up to 25 years at a competitive, fixed interest rate via an additional, voluntary line item on their property taxes. HERO, which stands for Home Energy Renovation Opportunity, is a public-private partnership between participating Florida cities and counties, the
HERO launched in
Miami-Dade County , Unincorporated- Village of El Portal
City of North Miami Levy County , Unincorporated
"Here in
"HERO is proud of our record of protecting homeowners throughout every stage of the improvement process and looks forward to delivering that same high level of care to residents in these new communities," said
HERO's industry-leading consumer protections go beyond those found with other forms of home-improvement financing. To help homeowners easily understand their financing terms before they finalize their contracts, HERO provides homeowners with written disclosures modeled on the federal "Know-Before-You-Owe" forms for mortgage lending and confirms terms with all customers in a live, recorded call (available in Spanish). Additionally, all contractors who make HERO-financed improvements have agreed to not receive payment until the homeowner confirms they are satisfied with the finished project. HERO's data-driven Contractor Quality Rating (CQR) system incentivizes excellent service and behavior among HERO-registered contractors and removes those who can't or won't meet the program's standards.
Eligible HERO improvements in
To date, the improvements financed nationwide through HERO are projected to save homeowners billions of dollars on their utility bills while reducing greenhouse-gas emissions by millions of tons. Many homeowners who use PACE financing also report lower insurance premiums, and safer, more comfortable homes.
About Renovate America
Renovate America offers a tech-enabled financing platform for home improvements that empowers communities to modernize and make their housing stock more efficient, while giving small businesses the tools they need to grow. HERO, Renovate America's Property Assessed Clean Energy (PACE) financing option, is the nation's leading residential PACE program. Renovate America has built the world's largest green bond platform, with a volume of originations that enables securitization of
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View original content:http://www.prnewswire.com/news-releases/hero-financing-for-energy-and-hurricane-resiliency-home-improvements-now-available-to-over-three-million-florida-households-300690770.html
SOURCE HERO
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