The PACE Financial Group announced that it has changed its name to Home run funding and added a new unsecured loan product called Home Loans. The company began operations in California in 2014 as a one-product company: Property-assessed clean energy financing (PACE) for renewable energy, energy and water conservation projects, and then storm protection and other improvements. houses. The company has launched successful PACE programs in Florida (2019) and Missouri (2020). With the new offering, Home Run Financing provides contractors for their clients with a single source of home improvement financing by choosing either unsecured loans or, if better, PACE financing that is tied to the equity in their home.
“Home Run Financing is the only housing finance provider offering both PACE and unsecured loans to homeowners,” said Robert Giles, CEO of Home Run Financing. “Over the years, we’ve learned that clients like having multiple financing options from a single source. We are meeting this demand. “
The PACE financial product is currently available in California, Florida and Missouri and can be used for renewable energy products, products that improve energy or water efficiency, and improve home protection from earthquakes, wildfires and / or hurricanes. , depending on state law. PACE approval is independent of the borrower’s credit rating as it is based on the homeowner’s share of ownership in their home. PACE is highly regulated to provide a high level of consumer protection.
Home loans will be available in these three states as well as Kansas and can be used for a wide variety of home improvement projects, including PACE eligible project types, in addition to kitchen remodeling, bathrooms, floors, room extensions, additional residential units. , gazebos and many other projects. Home loans provide the homeowner and contractor with a fast application and approval process, no income documentation, and a lien on property.
Home Run Financing works with a wide network of reputable licensed contractors throughout the country. Contractors can register through the program website to provide home loans and / or PACE funding. Homeowners can encourage their contractors to join the program.
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