The HERO Program:
The HERO (Home Energy Renovation Opportunity) Program offers a unique, affordable financing option for energy-efficient upgrades for increased efficiency, comfort, and savings. Any property owner who lives in a city or county where HERO has been approved by the local government can apply for HERO financing. Forty-four of California’s fifty-eight counties have approved HERO financing. (See the full list of forty-four counties at the bottom of this page.)
The HERO Financing Difference:
HERO differs from other forms of financing in that it is a PACE (Property Assessed Clean Energy) program that provides financing for energy-efficient and renewable energy products. In the state of California, HERO provides these same financing options for water-saving and drought-resistant products. By partnering with local governments, we’ve made energy and water efficiency upgrades more affordable for homeowners like you.
No Upfront Costs:
HERO offers more consumers access to energy-efficient options because HERO is financed as an assessment on your property. The interest on these payments may be tax deductible (you should consult your tax advisor regarding potential tax benefits). Approval for HERO is primarily based on the equity in your home and your debt payment history, rather than your credit score. HERO finances 100% of the cost to purchase and install eligible products, with fixed rates and flexible terms of 5-20 years, depending on the improvements you choose.
Property Tax Assessment:
HERO financing is paid off through your property taxes. You will see a line item on your property tax bill titled “HERO FINANCING.” If you make property tax payments through an impound escrow account, your lender will adjust your monthly payment to include the amount due for HERO financing.
Increased Comfort With Heating and Cooling:
You can save up to $115 or more per month by switching to high efficiency heating, ventilation, and air conditioning systems (HVAC). These systems work together to keep indoor temperatures at comfortable levels and improve air quality. HERO Pro Tip: the higher the SEER rating, the more energy-efficient the air-conditioner. You’ll want a SEER rating of at least 14.
Specific eligibility requirements for residential properties include the following:
- Mortgage payments must be current at the time of application, and property owner(s) must not have had more than (1) 30-day mortgage late payment over the past twelve months.
- Property taxes must be current, and there must be no more than one late payment in the past three years.
- No outstanding involuntary liens, such as tax liens or mechanic’s liens.
HERO Financing is a simple 4 step process:
- Apply – Find out how much your home is approved for.
- Select – Choose the eligible products and select the contractor for your job.
- Sign – Sign your financing documents.
- Complete – Finish the installation.
Should you decide to sell your property before your HERO assessment is paid in full, any remaining balance may be able to transfer to a new property owner.
The Novaks’ Experience With The HERO Program:
California Counties That Have Approved HERO Financing
Contra Costa County
Del Norte County
El Dorado County
Los Angeles County
San Benito County
San Bernardino County
San Diego County
San Francisco County
San Joaquin County
San Luis Obispo County
San Mateo County
Santa Barbara County
Santa Clara County