PACE
Finance Vendor Details
Sonoma County Energy Independence Program (SCEIP)
Lender:
Sonoma County
Contact Information
Property Types
Program Description
Sonoma County's Energy Independence Program (SCEIP) is a PACE financing program offered by the County that allows commercial property owners to finance up to 100% of the cost of installing energy efficiency, water-saving or renewable energy improvements that are permanently fixed to the property. Financing is repaid annually via the property tax bill over the course of up to 20 years.
Sonoma County's Energy Independence Program (SCEIP) is a PACE financing program offered by the County that allows residential property owners to finance up to 100% of the cost of installing energy efficiency, water-saving or renewable energy improvements that are permanently fixed to their property. Financing is repaid annually via the property tax bill over the course of up to 20 years.
Sonoma County's Energy Independence Program (SCEIP) is a PACE financing program offered by the County that allows residential property owners to finance up to 100% of the cost of installing energy efficiency, water-saving or renewable energy improvements that are permanently fixed to their property. Financing is repaid annually via the property tax bill over the course of up to 20 years.
Verified by Lender on: 2/17/2016
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
Financing & Payment Information
Term (years):
10
Minimum Amount:
$2,500
Maximum Amount:
10% of property value
Fees:
None
Money Down Required:
No
Repayment Method:
Property Taxes (PACE)
Payment Frequency:
Annual
Pre-Payment Penalty:
No
Allowable Projects
Funds Energy Efficiency projects
Funds Water Efficiency projects
Funds Renewable Energy projects
Funds Demand Response projects
Funds other energy projects
Funds other energy-related projects
Other Program Requirements
Contractors
Must be program-approved
Financing Approval Time
More than 48 hours
Equity in Property Needed
No
Financial Products
| Lien type | Property Assessment | Property Assessment |
| Re-Payment Method | Property Taxes (PACE) | Property Taxes (PACE) |
| Property Types | ||
| Automatic payment option available | N.A. | N.A. |
| Requires utility incentive program participation | No | No |
| Must use Program's pre-approved contractors | Yes | Yes |
| One-time fees (% of total financing) | ||
| One-time fees (fixed) | ||
| Ongoing fees | ||
| Financing Amount | $2,500 | $2,500 |
| Financing Term (yrs.) | 10 year(s) | 10 year(s) |
| Rate | 7 - 7% | 7 - 7% |
| Money Down Required? | No | No |
| Credit Enhancement Available | No | No |
| Transferrable | Yes | Yes |
| Prepayment Penalty or Fee | No | No |
| Tax Deductibility | Yes | Yes |
| Minimum Credit Score Required | ||
| Equity in Property Required | Yes | Yes |
| Debt to Income Ratio Required | No | No |
| Involuntary Property Liens Allowed | No | No |
| Foreclosures Allowed | ||
| Bankruptcies Allowed | ||
| Mortgage Lender Consent/ Acknowledgement | Yes | No |
| Must be current on property taxes | Yes | Yes |
| Must be current on mortgage | Yes | Yes |
| Loan to value | ||
| Debt Service Coverage Ratio | No | No |
| Financing Approval Time | More than 48 hours | More than 48 hours |
| Projected Energy Savings/Cash Flow is considered | No | No |
| Must be current on utility bill | No | No |
Upgrades Covered
No Results
FAQ's
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