As Easy as Riding a Bike:
How PACE Financing Works

Upgrade your home with confidence

By submitting the above form, you consent and agree to the following:

You have reviewed Renew Financial’s Privacy Policy and Terms of Use;
You expressly consent to have a representative from Renew Financial Group LLC. (Renew) contact you about this inquiry by email, text message, and/or by telephone (including by automated telephone dialing system or an artificial or prerecorded voice) at the home or cell phone number you have provided, even if that phone number is on a corporate, state, or national Do Not Call registry. You do not have to agree to receive such emails, text messages, or calls as a condition of obtaining our service, and you may revoke this consent at any time. By contacting Renew by phone, you consent to the recording and monitoring of calls;
You allow Renew to share the information collected about you in the form with up to three (3) of its participating Contractors. You understand that your data will be subject to the Privacy Policy of each contractor you are referred to;
You understand this eligibility form only determines if your property address and project type are eligible for Renew Financial’s PACE financing, and it is not a commitment to lend. A complete application must be submitted to receive a financing decision. You understand financing is subject to underwriting review and approval, and certain restrictions may apply;
You are the record owner of the property listed in the form, and any information you furnish to Renew is accurate and complete;
You consent to do business electronically.

Definitions

“You” and “yours” means the person(s) submitting this form. “Renew” means Renew Financial Group LLC and any person, company, bank, or financial institution that is an assignee of the rights of Renew Financial Group LLC.

By submitting the above form, you consent and agree to the following:

You have reviewed Renew Financial’s Privacy Policy and Terms of Use;
You expressly consent to have a representative from Renew Financial Group LLC. (Renew) contact you about this inquiry by email, text message, and/or by telephone (including by automated telephone dialing system or an artificial or prerecorded voice) at the home or cell phone number you have provided, even if that phone number is on a corporate, state, or national Do Not Call registry. You do not have to agree to receive such emails, text messages, or calls as a condition of obtaining our service, and you may revoke this consent at any time. By contacting Renew by phone, you consent to the recording and monitoring of calls;
You allow Renew to share the information collected about you in the form with up to three (3) of its participating Contractors. You understand that your data will be subject to the Privacy Policy of each contractor you are referred to;
You understand this eligibility form only determines if your property address and project type are eligible for Renew Financial’s PACE financing, and it is not a commitment to lend. A complete application must be submitted to receive a financing decision. You understand financing is subject to underwriting review and approval, and certain restrictions may apply;
You are the record owner of the property listed in the form, and any information you furnish to Renew is accurate and complete;
You consent to do business electronically.

Definitions

Make home upgrades with no upfront payments — repay over time through your property taxes.

PACE (Property Assessed Clean Energy) financing helps qualified California and Florida homeowners pay for eligible home improvements without out-of-pocket costs at the time of installation. Instead, you repay over time through a special assessment added to your property tax bill with predictable, fixed payments.

If you’re looking to finance a new roofing, HVAC, hurricane protection, windows, septic, sewer, or other qualified upgrades — PACE may be an option.

WHAT IS PACE FINANCING?

PACE financing is an income and collateral-based financing program that allows qualified homeowners to fund eligible improvements and repay through their property tax bill. PACE is currently available in participating areas of California and Florida.

Unlike traditional loans:

PACE does not require out-of-pocket payments at the time of Installation
There is no separate monthly bill
The financing is added to and paid through the property taxes
There are no credit score requirements
There are no prepayment penalties (a payoff processing fee may apply).

HOW THE PACE FINANCING PROCESS WORKS

Here’s an overview of the PACE financing journey:

1. Check Basic Eligibility

Start by checking if your property meets basic eligibility criteria. Basic eligibility is based on factors like local program participation, property type, and project type.

Check Your Eligibility

2. Apply for Financing

Complete an application online or over the phone – often in just minutes. A soft credit pull is used for underwriting purposes and won’t affect your credit score.

3. Get Approved

Approval is based on equity in your home, your ability to repay the assessment, and other underwriting criteria.

4. Choose a Registered Contractor

Select a contractor who is registered with Renew Financial to complete your upgrades. If your preferred contractor is not yet registered, they can enroll in order to participate in the program.

5. Complete the Work

Once the work is completed and verified, Renew Financial pays the contractor directly — so you have no upfront out-of-pocket costs. Your first annual payment is typically due with your next property tax bill (often up to 17 months after project funding, depending on timing).

6. Repay Over Time

PACE financing is added to your property tax bill as a special assessment and paid over an agreed term (up to 30 years under California law and up to 20 years under Florida law). This repayment structure means you don’t juggle separate bills.

HOW PACE REPAYMENT WORKS

PACE is billed annually and repaid through your property tax bill, one of two ways:

Through Escrow: If you have an escrow or mortgage impound account, your mortgage lender will adjust your monthly escrow payment to include your PACE annual assessment and pay it along with your property taxes.

Direct Payment: If you pay your property taxes directly, the PACE assessment will be included when your property taxes are due (annually or biannually).

WHY HOMEOWNERS CHOOSE PACE FINANCING

PACE financing is designed to make home improvements more affordable and accessible by eliminating one of the biggest barriers — the high upfront cost.

KEY BENEFITS:

No upfront payments: You don’t pay anything out of pocket when the work is done.

Affordable payments: Financing can be spread over years or even decades.

Fixed rates: Competitive, fixed rates mean predictable payments you can plan around.

No impact on credit score: PACE typically uses a soft credit check (no impact on credit report) and bases the approval on equity, ability to repay the financing, and other underwriting criteria.

Repayment through property taxes: Payments are added to and collected via your property tax bill – no extra monthly bill to manage.

WATCH: How PACE financing works

This short overview video explains how PACE financing works and what to expect.

COMPARING PACE TO OTHER FINANCING OPTIONS

PACE financing is an excellent option for many homeowners. Still, it is not the only choice available, nor may it always be the best fit for your needs. Below are some factors you should consider as part of your decision-making process.

FREQUENTLY ASKED QUESTIONS

Is PACE financing a loan?

No, PACE is not a traditional loan. It is a property tax assessment secured by your home that must be repaid in full

Is PACE free money or a government program?

No, PACE is not free money, nor a government subsidy, imposed tax, or loan. PACE is private financing that must be repaid in full.

Can I select a contractor of my choice?

Yes, you are, in fact, responsible for choosing your contractor. Renew Financial can provide you with referrals to reputable contractors we frequently work with and who are in good standing. This service is free and available even if you decide not to finance your project through Renew Financial. You can request referrals at https://renewfinancial.info/co-referrals or by texting the word START to 844-736-3939.

Is PACE available nationwide?

PACE financing is not yet available nationwide. Due to its unique structure, participation in the program depends on state legislation and local governments opting in. Currently, Renew Financial offers PACE financing in participating communities in California and Florida.

What are the repayment terms for PACE financing?

PACE offers long repayment terms, which can extend up to 30 years under California law and up to 20 years under Florida law. However, the specific repayment period is determined by factors like the project’s scope, the materials used, and the property’s location.

Is PACE financing based on my credit score?

Qualifying for PACE financing does not require a traditional minimum credit score, but eligibility is based on multiple factors and program rules, including, but not limited to, eligible collateral, available equity, and ability to repay. Start an eligibility check to see if you qualify.

How do I get started?

Start by checking eligibility, then request a contractor estimate for qualifying upgrades. Once your project scope is confirmed, you can proceed through the approval and installation steps.

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Learn everything you need to know about PACE financing! Our free guide explains how PACE works, eligibility requirements, frequently asked questions, and includes tips for selecting a contractor.

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