I am proud to announce that the HERO program is almost here and before it arrives I want to introduce you to the best ways to take advantage of the benefits. While still unclear when exactly the program will be available for us in south Florida, I am excited to offer this program to all our home owners out there that are ready to save money on utility bills!!
From what I have seen this will be an amazing opportunity for all homeowners, the pros of using the HERO program will be phenomenal, no upfront cost for the Improvement, no payoff penalties, different length loan terms payments will be taken with your property taxes so no need to stress to make large payments.
On the flip side of that token the cons I have seen are, might make selling your home a little more of a process good thing is the loan is transferable so you will not be obligated to pay it off before selling your home, Hero will be transferred to the new owner. Other than that small inconvenience there are no other cons to this program. As of now it is helping thousands of homeowners on the California state.
To be eligible for the HERO program you must:
-Own your home
-Have more then %10 equity in your home.
-Be prepared to save money!!
Here are some basics FAQ
What does “HERO” stand for?
- HERO is an acronym that stands forHome Energy Renovation Opportunity.
What is the HERO Program?
- The HERO Program offers a unique, affordable financing option for energy-efficient upgrades for increased efficiency, comfort and savings. Water-saving upgrades are also available in drought-impacted areas, such as California.
How is HERO different from other forms of financing?
- HERO is a PACE (Property Assessed Clean Energy) program that provides financing for energy-efficient and renewable energy products. In the state of California, HERO provides these same financing options for water-saving and drought-resistant products.
How is HERO financing paid through my property taxes?
- You will see a line item titled “HERO FINANCING” on your property tax bill. If you make property tax payments through an impound escrow account, your lender will adjust your monthly payment to include the amount due for HERO financing.
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What is eligible for Hero financing?
- Air Conditioning,
- solar panels
- and much more Hero is a program built to help homeowners make their homes more efficient by working with local government to allow the program to adjust with property taxes. Hero does not go based of your fico score more so goes off the equity your home holds and amount of debt you the homeowner currently hold. By partnering with local governments, they’ve made energy and water efficiency upgrades more affordable for homeowners like you.