Pay Off My Solar,

HERO, or

PACE Loan

Pay Off My Solar, HERO, or PACE Loan

What is the Benefit?

If you currently have solar, HERO, or PACE loan that’s not paid off, there are BIG benefits to paying it off through a cash-out refinance. Having a solar, HERO, or PACE liens on your property can cause potential issues. Here’s a breakdown on how a cash-out refinance can benefit you:

Solar, HERO, and PACE Loans

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Solar, HERO, and PACE Liens will remain on the Title of your Property until you fully pay it off.

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Solar, HERO, and PACE Liens may cause difficulties and/or prevent you from opening additional financial transactions on your property such as opening a HELOC or 2nd mortgage.

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Solar Loan interest rates are typically higher than mortgage interest rates: Solar Interest Rates can range from 4% to 20% APR.

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Solar, HERO, and PACE liens may cause issues when trying to sell your property.

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HERO and PACE liens may prevent you from obtaining a conventional loan.

Cash-Out Refinance

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Removing the Solar Lien on the Title of your Property: When you have solar financed, the solar company puts a lien on the title of your property. Once it’s paid off, the lien on your property will be removed.

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Getting rid of another monthly payment: Your solar payment will be consolidated into your mortgage loan so you no longer have to make direct payments to the solar company.

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Saving money on interest: By paying off your solar loan through your mortgage, you will take advantage of low mortgage interest rates versus high solar loan rates. This will save you thousands on interest.