On-Bill Repayment
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First Community Bank
First Community Bank
Property Types
Types of Financing
Financing & Payment Information
Term (years):
5, 10
Minimum Amount:
$2,500
Maximum Amount:
$30,000
Fees:
None
Money Down Required:
Yes
Repayment Method:
Property Taxes (PACE)
Payment Frequency:
Bimonthly
Pre-Payment Penalty:
Yes
Allowable Projects
Funds Renewable Energy projects
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
Immediate
Equity in Property Needed
No
Financial Products
| Lien type | Secured loan | Secured loan |
| Re-Payment Method | Property Taxes (PACE) | Property Taxes (PACE) |
| Automatic payment option available | Yes | Yes |
| Requires utility incentive program participation | Yes | Yes |
| Must use Program's pre-approved contractors | Yes | Yes |
| One-time fees (% of total financing) | No | No |
| One-time fees (fixed) | No | No |
| Ongoing fees | No | No |
| Financing Amount | $2,500 - $30,000 | $7,500 - $30,000 |
| Financing Term (yrs.) | 5 year(s) | 10 year(s) |
| Rate | 6.5% | 6.5% |
| Money Down Required? | Yes | Yes |
| Credit Enhancement Available | ||
| Transferrable | Yes | Yes |
| Prepayment Penalty or Fee | Yes | Yes |
| Tax Deductibility | No | No |
| Minimum Credit Score Required | No | No |
| Equity in Property Required | Yes | Yes |
| Debt to Income Ratio Required | Yes | Yes |
| Involuntary Property Liens Allowed | Yes | Yes |
| Foreclosures Allowed | Yes: Any Time | Yes: Any Time |
| Bankruptcies Allowed | Yes: Any Time | Yes: Any Time |
| Mortgage Lender Consent/ Acknowledgement | Yes | Yes |
| Must be current on property taxes | Yes | Yes |
| Must be current on mortgage | Yes | Yes |
| Loan to value | No | No |
| Debt Service Coverage Ratio | Yes: 0 | No |
| Financing Approval Time | Immediate | Immediate |
| Projected Energy Savings/Cash Flow is considered | Unknown | Unknown |
| Must be current on utility bill | Unknown | Unknown |
Upgrades Covered
No Results
FAQ's
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