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Finance Vendor Details

mPower
Lender: Placer County
Contact Information
Website: http://www.mpowerplacer.org
Phone: (877) 396-7693
Email: mpower@placer.ca.gov
Property Types
Program Description
mPower offers homeowners funding for energy efficiency, renewable energy and water efficiency 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. This program is administered by Placer County.
mPower offers commercial property owners funding for energy efficiency, renewable energy and water efficiency 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. This program is administered by Placer County.
mPower offers City of Folsom homeowners funding for energy efficiency, renewable energy and water efficiency 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. This program is administered by Placer County.
mPower offers City of Folsom commercial property owners funding for energy efficiency, renewable energy and water efficiency 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. This program is administered by Placer County.
Verified by Lender on: 2/24/2016
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Types of Financing
PACE
Other
Financing & Payment Information
Term (years):
5
Minimum Amount:
$2,500
Maximum Amount:
$0
Fees:
Yes
Money Down Required:
No
Repayment Method:
Property Taxes (PACE)
Payment Frequency:
Annual
Pre-Payment Penalty:
Yes
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
Financing Approval Time
More than 48 hours
Equity in Property Needed
No

Financial Products

Lien type Property AssessmentProperty 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 NoNo
Must use Program's pre-approved contractors NoNo
One-time fees (% of total financing)
One-time fees (fixed)
Ongoing fees
Financing Amount $2,500$2,500 +
Financing Term (yrs.) 5 year(s)5 year(s)
Rate 6 - 6%6 - 6%
Money Down Required? NoNo
Credit Enhancement Available NoNo
Transferrable YesYes
Prepayment Penalty or Fee NoNo
Tax Deductibility YesYes
Minimum Credit Score Required
Equity in Property Required YesYes
Debt to Income Ratio Required NoNo
Involuntary Property Liens Allowed NoNo
Foreclosures Allowed
Bankruptcies Allowed
Mortgage Lender Consent/ Acknowledgement NoYes
Must be current on property taxes YesYes
Must be current on mortgage YesYes
Loan to value
Debt Service Coverage Ratio NoNo
Financing Approval Time More than 48 hoursMore than 48 hours
Projected Energy Savings/Cash Flow is considered NoNo
Must be current on utility bill NoNo
Lien type OtherOther
Re-Payment Method Property Taxes (PACE)Property Taxes (PACE)
Property Types
Automatic payment option available N.A.N.A.
Requires utility incentive program participation NoNo
Must use Program's pre-approved contractors NoNo
One-time fees (% of total financing) 0
One-time fees (fixed) 706
Ongoing fees No
Financing Amount $2,500$2,500 +
Financing Term (yrs.) 5 year(s)5 year(s)
Rate 6 - 6%6 - 6%
Money Down Required? NoNo
Credit Enhancement Available NoNo
Transferrable YesYes
Prepayment Penalty or Fee NoYes
Tax Deductibility YesYes
Minimum Credit Score Required No
Equity in Property Required YesYes
Debt to Income Ratio Required NoNo
Involuntary Property Liens Allowed NoNo
Foreclosures Allowed Yes: Yes (occurred more than 5 years ago)
Bankruptcies Allowed Yes: Yes (occurred more than 5 years ago)
Mortgage Lender Consent/ Acknowledgement NoYes
Must be current on property taxes YesYes
Must be current on mortgage YesYes
Loan to value Yes: 1%
Debt Service Coverage Ratio NoNo
Financing Approval Time More than 48 hoursMore than 48 hours
Projected Energy Savings/Cash Flow is considered NoNo
Must be current on utility bill NoNo

Upgrades Covered

No Results

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