How Do You Apply for PACE Roof Financing?
Financing a new roof via PACE works a little differently than most other loan programs. Instead of looking for a lender, you begin by contacting the contractor who will do the work your home needs. At this time, the contractor will then assist you in walking through the following steps to finance the roof.
- Start Your Application
Finally, Planet Roofing will help you complete the initial application paperwork. Also, we can provide forms and assist you in selecting qualifying roofing products, and answer any questions you may have along the way.
- Provide Documentation
You will need to provide evidence that you qualify to participate in the program. This means showing that you own your home and are current on your mortgage and property taxes. You will also need to submit a credit check.
- Talk to Your Mortgage Lender and a Program Representative
If you have a mortgage, you will need to advise your mortgage lender of your PACE application. Also need to speak to a PACE program representative to clarify any questions you may have and confirm that you understand the loan and its repayment terms.
- Sign Your Contract and Get Your New Roof
When all the terms have been finalized, you will be ready to sign your contract. Once the contract is signed, you can get your new roof installed right away!
- Sign the Certificate of Completion
When your new roof is complete, you will sign the PACE Certificate of Completion. At that moment, that form will complete the process!
- Pay Back Your Loan
Whenever you receive a bill for your property taxes, you will be charged for your PACE installment payment as well. Throughout your loan, make your payments on time, while enjoying monthly savings on your energy bills!
Other Important Details About Roof Financing Florida
PACE can be the best way to get the roof loan that you need. Before signing up, however, there are a few more things that it is essential to know.
First, PACE approvals tend to come through quickly, so apply when you’re ready for your new roof.
Second, it’s vital to communicate with your Mortgage Company and insurance provider about your project. Remember that your new roof may qualify you for lower homeowner insurance premiums.
Third, PACE installment payments stay with your property rather than following you as the signer of the contract. If you sell your home, the buyer will become responsible for those payments. Should you sell the house before the loan is paid off, you must ensure that information is reflected in the sale contract.
See If You Quality for a PACE Roof Today
If you need a new roof, PACE financing may be the answer. Finding out if you qualify is quick and easy, so contact us today and let our in-house experts help you discover if you are eligible for PACE funding. The only thing you have to lose is a bad roof and steep utility bills!
