Approval from Department of Financial Protection and Innovation enables Calif. homeowners to access new product, and for Calif. contractors to provide it to their customers
LOS GATOS, Calif., Sept. 10, — Home Run Financing (previously PACE Funding Group, LLC) announced today that it has received approval from the California Department of Financial Protection and Innovation (DFPI) to provide their new, unsecured home loan product, called Home Run Loans, to homeowners in California.
The company has been providing Property Assessed Clean Energy (PACE) funding for renewable energy and energy- and water-efficiency home improvements since 2014, and later for earthquake hardening and fire preparation. Through Home Run Loans, homeowners can now finance the same types of projects allowable under PACE, in addition to a wide variety of home improvements, including kitchen and bathroom remodels, flooring, room additions, accessory dwelling units, and many other projects.
Importantly, contractors now have a single source for their clients to obtain home improvement financing, choosing either the Home Run unsecured loan or, if it is a better fit for the project, PACE financing, which is tied to the equity in their home.
“Home Run Financing is the only company that provides both PACE funding and an unsecured loan product for homeowners in California, making the company a one-stop-shop for contractors helping their clients finance a variety of home improvement projects,” said Robert Giles, CEO of Home Run Financing.
Home Run Loans provide the homeowner and contractor with a quick application and approval process and works with a broad network of reputable, licensed contractors in California.
Homeowners can learn more and apply at www.homerunfinancing.com. Contractors can register to provide Home Run Loans and/or PACE financing to their customers via the program’s website at www.homerunfinancing.com/contractors.