Financing with Ygrene Works

Ygrene Energy Fund’s award winning YgreneWorks^TM program provides 100% no money down PACE financing enabling property owners to make energy efficiency, renewable energy and hurricane protection improvements to homes and businesses. Payments are conveniently made through your property tax bills.

Approved by your local government, eligibility is based on the equity in your home (among other factors), and not on your credit score, proof of employment, income or financial statements. While we won’t use your credit score to determine your eligibility for financing, we will pull your credit report to confirm certain underwriting criteria. Payments can be spread out over 20 years, and your first annual payment will be deferred until November 2017.

While PACE programs are enabled by state legislation and must be approved by your local government, YgreneWorks is not a government program.

Hundreds of eligible improvements (and associated installation costs) qualify. Install that solar system you’ve always wanted. Replace your air conditioning system and water heater. Improve your home with new windows, doors, roofing and insulation. Visit ygreneworks.com/improvements for a list of PACE-eligible upgrades.

YgreneWorks PACE financing payments are approved under Florida State Statue 163.08 and secured by a continuing lien on the property. If you sell your property, payments may transfer to the new owner, just like your property taxes.¹

¹ Applies to contracts funded by 6/30/17.² Property taxes are legally transferable upon sale, however, mortgage lenders may require full repayment of the special assessment upon sales or refinancing.

Your first payment (and all future payments) will be incorporated into your property taxes, and will appear as a line item on your annual statement delivered by your County Tax Assessors office. The date it appears on your property tax statement for the first time depends on the date your PACE improvement contract funds. PACE improvements funded on or before June 30 of the current year appear in the year’s property tax statement; PACE improvements funded after July 1st of the current year will appear in next year’s property tax statement.

Your annual PACE special tax/assessment will be added to your property taxes as a line item on your annual (or semiannual) statement. YgreneWorks PACE financing can be paid in one of two ways:

1. Pay the property tax bill directly to your tax collector on the due date (lump sum payments made annually).
2. Increase the amount contributed to an existing escrow account (or set up a new account) with the mortgage lender or servicer

After your project is funded, you will receive a final closing statement from Ygrene. If you would like to add to an existing (or set up a new) escrow account and make your PACE financing payments through your mortgage account, it is your responsibility to send the final closing statement to your servicer to update your information and increase your reserves in your escrow account. Based on your annual PACE assessment, your mortgage servicer/lender will help you determine the right amount to set aside in reserve each month. For further questions, contact your lender or servicer.

It’s easy. First check your property eligibility. If your property is in one of our service areas, you can apply online in just a few minutes. YgreneWorks financing is based on the equity available in your home or property (among other factors), and not on credit (FICO) score, proof of employment, income or financial statements.