Eligibility is based primarily on the available equity you have in your property and your ability to pay, among other factors. No minimum FICO score is required. For example, homeowners and commercial property owners must have at least 10 percent equity stake in their property, must be up-to-date on mortgage payments and taxes, and cannot be in bankruptcy (some jurisdictions require being clear of bankruptcy for a certain number of years).
A competitive alternative to credit-based financing, PACE offers no money down financing for eligible home improvements that can help lower your utility bills, improve your comfort and indoor air quality, and increase your property value. The cost of improvements can be spread out up to 30 years in some states, and your first annual payment may be deferred for up to one year or longer (subject to underwriting guidelines, approvals and date of financing).
Hundreds of home and commercial improvements qualify for PACE financing. Among the more common are solar photovoltaic(PV) systems, roofing, HVAC systems, impact-resistant windows and doors, drought-tolerant landscaping and many more. View a list of eligible improvements in Florida, California or Missouri, and find out if PACE is available in your area.