HERO Financing is low cost financing for energy and water efficient products and renewable energy systems. HERO Financing enables homeowners to improve their home energy performance, lower their utility bills, and reduce greenhouse gas emissions.
HERO Financing is offered through local governments’ HERO Programs. Before a homeowner can apply for HERO Financing, their local government must launch a HERO Program.
- Quick Approvals - Applications can be approved for qualified homeowners through their local HERO Program online application or when contractors call-in applications.
- Non-Credit Based Eligibility Criteria - Homeowners’ credit scores are not a factor in determining HERO Financing eligibility.
- Low Cost Financing - HERO Financing has low interest rates that are fixed throughout the length of a homeowner's financing term.
- Long Financing Terms - HERO Financing can be paid back over 5-20 years, depending on the useful life of the eligible home improvement.
- Easy Repayment - Homeowners repay the financing along with their property taxes.
How HERO Financing Works
A homeowner in a participating community can apply for HERO Financing through a contractor or online on their local HERO Program website. Once approved, the homeowner works their contractor to select eligible energy and water efficient products or renewable energy systems to install. The homeowner then signs Financing Documents and the contractor starts work. When work is complete, the homeowner and contractor request HERO Financing funding. The contractor is paid through the local HERO Program. The homeowner pays back the financing through their property tax bill.
- Apply
- Product Approval
- Sign Financing Documents
- Install
- Payment Issued
- HERO Financing application is short and simple
- Minimum credit scores and property appraisals not required
- Quick approval for qualified applicants
- Apply online, through contractors, or by mail
- Contractors assist homeowners with eligible product selection
- Products must meet minimum HERO Program specifications
- Online eligible product model lookup engine on HERO Program websites
- Call HERO Program Services for approval of eligible products and costs
- Once products are approved, property owner and contractor are emailed the Notice to Proceed with Financing Documents
- Homeowners sign, notarize, and return Financing Documents within ten days
- Contractor completes installation within approved time frame
- Comply with all licensing, building code, and utility requirements
- Contractors complete the installation to the satisfaction of homeowners
- Homeowners and contractors must sign Completion Certificate
- Submit Completion Certificate to HERO Program office with all required attachments
- Payment is issued to Contractor