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Figtree PACE Financing
Figtree PACE Financing
Lender:
Figtree Financing
Contact Information
Property Types
Program Description
GoGreen Lending's Hybrid Loan Program is a unique combination of The Federal Housing Administration's (FHA's) Energy Efficient Mortgage (EEM) and Streamlined 203(K) Rehab program. It is an "All in One" solution that helps homeowners finance the cost of adding energy efficiency and renewable energy upgrades to their home as part of an FHA-insured home purchase or refinance mortgage. The additional funds for the energy project are determined by the results of an energy audit, usually provided through a professional who conducts a Home Energy Rating System (HERS) test on the house. As with any typical mortgage, the Hybrid Loan Program can be structured in many different ways that may include closing costs, fees or points. Additionally, it includes a 1.75% mortgage insurance fee at close and an additional monthly .85% mortgage insurance fee.
Types of Financing
Financing & Payment Information
Term (years):
1
Minimum Amount:
$50,000
Maximum Amount:
$0
Fees:
None
Money Down Required:
Yes
Repayment Method:
Off-bill loan (Direct to Lender)
Payment Frequency:
Monthly
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects - For example, some financing may be primarily for energy efficiency projects; however, it may allow 30% of the financing to fund other water efficiency or renewable projects.
Funds other energy-related projects - For example, some financing may also allow funding for projects in relation to installing the approved product, such as mold or asbestos remediation.
Funds other non-energy projects - Some financing may allow funding for non-energy projects, such as a kitchen or bath remodel, or seismic upgrades.
Other Program Requirements
Financing Approval Time
Equity in Property Needed
No
Financial Products
| Lien type | Secured loan |
| Re-Payment Method | Off-bill loan (Direct to Lender) |
| Automatic payment option available | |
| Requires utility incentive program participation | No |
| Must use Program's pre-approved contractors | No |
| One-time fees (% of total financing) | |
| One-time fees (fixed) | |
| Ongoing fees | |
| Financing Amount | $50,000 |
| Financing Term (yrs.) | 1 year(s) |
| Rate | 0% |
| Money Down Required? | Yes |
| Credit Enhancement Available | |
| Transferrable | No |
| Prepayment Penalty or Fee | |
| Tax Deductibility | Yes |
| Minimum Credit Score Required | |
| Equity in Property Required | Yes |
| Debt to Income Ratio Required | Yes |
| Involuntary Property Liens Allowed | No |
| Foreclosures Allowed | |
| Bankruptcies Allowed | |
| Mortgage Lender Consent/ Acknowledgement | No |
| Must be current on property taxes | Yes |
| Must be current on mortgage | Yes |
| Loan to value | |
| Debt Service Coverage Ratio | |
| Financing Approval Time | |
| Projected Energy Savings/Cash Flow is considered | Yes |
| Must be current on utility bill | No |
Upgrades Covered
No Results
FAQ's
Through our Contractor Marketplace, you can search for contractors and find the right fit for your project. You find out details about the contractor such as what types of certifications they have and where they are located. You can also directly find reviews when available. From there it is easy to connect and get started with your projects. A quality installation of equipment increases the benefits and efficiency of your new equipment.