Annual payments are paid with property taxes to the County. Depending on when the project is completed and notice given to the County, the County may have already prepared the next property tax [...]
The maximum financing amount is determined using the property value and the available equity in the property. Calculations depend on the requirements and PACE law in the jurisdiction where the [...]
Yes, but this needs to be disclosed to PACE Funding at the time of application, and needs to be taken into account when determining the maximum financing amount.
PACE assessments may not be longer than the lifespan of the improvement being financed. There may also be different maximum terms on offer depending on local requirements where the property is [...]
It is up to the homeowner, but PACE Funding assumes that any prepayment would go to the principal and that the new balance will be re-amortized over the remaining term.
There is no limit to the number of times an assessment can be paid down, but there is a requirement that the prepayment be at least $2,500.
If needed, PACE Funding could either make two payments to the contractor for the separate projects or could create two separate assessments while waiving some of the homeowner fees on the second [...]
PACE Funding can finance the PACE eligible part of a larger project.
Yes, if a party feels that the property value is too low, PACE Funding may accept a professional appraisal as the basis for a property value.
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