Is the HERO Program Still Offering Home Improvement Financing in California?

Yes, the HERO Program is still available to homeowners in California. This program created by Renovate America is accessible in three states: California, Florida, and Missouri. The HERO Program stands for Home Energy Renovation Opportunity and it offers financing options for home improvement projects that aim to boost energy efficiency, conserve water, and generally create more sustainable homes. This program offers homeowners an opportunity to make upgrades to their homes without having to pay upfront and without any down payment requirement. Below are some of the benefits of the HERO Program:

Financing terms of up to 20 years

Competitive fixed interest rates

Payments conveniently made through the homeowner’s property tax bill

100% financing with no upfront costs

The HERO Program has assisted hundreds of thousands of homeowners to make energy-efficient upgrades to their homes. If you’re a homeowner in California, Florida or Missouri looking to make some alterations to your home and conserve energy, then the HERO Program would be a good place to start.

Understanding the HERO Program

Home renovations can be costly, especially if you wish to make energy-efficient upgrades to your home. To help offset these costs and reduce the burden on homeowners, the HERO Program was developed. The HERO program is a type of financing known as Property Assessed Clean Energy (PACE), which allows homeowners to fund energy-efficient home upgrades and other eligible home improvements. Through the HERO Program, property owners can finance energy-efficient and water-saving upgrades through their property tax bill. This program is different from other financing options since the loan repayment is tied to the property, rather than the homeowner. This means that if the homeowner sells the property, the remaining HERO Program balance will transfer to the new buyer.

The Benefits of the HERO Program

The HERO Program offers several benefits, including:

• Up to 100% financing with no upfront costs
• Low, fixed interest rates
• No credit score requirements
• No income requirements
• Funding for energy-efficient and water-saving upgrades
• Loan repayment tied to the property, not the homeowner
• Ability to transfer remaining balance to the new property owner, if the home is sold

These benefits make the HERO Program an appealing option for homeowners who want to make energy-efficient upgrades to their homes but do not have the upfront funds to do so.

HERO Program Availability in California

The HERO Program is available in California, as well as Florida and Missouri. In California, the program is available in most counties, including Los Angeles, San Diego, and Sacramento. However, certain cities have opted not to participate in the HERO Program, and homeowners in these cities are not eligible for the program. These cities include:

• Berkeley
• Beverly Hills
• Burlingame
• Los Altos
• Los Gatos
• Menlo Park
• Millbrae
• Mountain View
• Palo Alto
• San Carlos
• Santa Clara
• Saratoga
• Woodside

Before applying for the HERO Program, homeowners in California should check with their local government to ensure the program is available in their area.

HERO Program Eligibility Requirements

To be eligible for the HERO Program, homeowners must meet the following criteria:

• The property must be located in a participating city or county
• The property must not have any delinquent property taxes or liens
• The property must be owned by the applicant for at least one year
• The homeowner must have equity in the property
• The homeowner must not have filed for bankruptcy in the past seven years
• The homeowner must not have a history of foreclosure over the past five years

If the homeowner meets these requirements, they can apply for the HERO Program to finance their energy-efficient home upgrades and other eligible improvements.

HERO Program for California Homeowners

For California homeowners, the HERO Program is a viable way to fund home improvements. The program allows homeowners to finance energy-efficient upgrades and other eligible improvements with no upfront costs and at low, fixed interest rates. Upgrade options include solar panel installation, replacement windows, roofing, HVAC systems, and more. These upgrades can help homeowners reduce their energy bills and increase the value of their property.

Applying for the HERO Program in California

To apply for the HERO Program in California, homeowners must follow these steps:

1. Find a HERO Program registered contractor
2. Select the eligible upgrade(s) for financing
3. Apply for financing through the contractor
4. Receive final approval from the HERO Program
5. Sign finance documents and start the project
6. The contractor installs the upgrade(s)
7. The HERO Program places the financing on the homeowner’s property tax bill

This process can take several weeks to complete, and homeowners should plan accordingly for their home improvement project timeline.

HERO Program vs. other Home Improvement Financing Options

There are several financing options available for homeowners looking to fund home improvements, including:

• Home equity loans
• Personal loans
• Credit cards
• Traditional PACE financing

Compared to these financing options, the HERO Program offers several benefits, such as:

• No upfront costs
• Low, fixed interest rates
• Loan repayment tied to the property, not the homeowner
• No credit score or income requirements
• Funding for energy-efficient and water-saving upgrades
• Ability to transfer remaining balance to the new property owner, if the home is sold

Overall, the HERO Program is a viable home improvement financing option for California homeowners. The program’s benefits make it an appealing option for those looking to make energy-efficient upgrades to their homes. However, homeowners should carefully review the program’s eligibility requirements and compare the HERO Program to other financing options before making a final decision.