The Hero Program
The Hero Program is a new opportunity for homeowners to upgrade to energy-efficient systems in their homes. It is a fast and easy way to finance and save money on your utility and water bills. HERO is partnering with your local government by providing low fixed interest rates and payments are alongside your property taxes. With 150,000 products to choose from for home upgrades, this may even increase the value of your home!
How It Works
The approval process is quick and easy. It even takes less than 2 minutes to find out if you do indeed qualify and the qualifying amount. To find if you qualify, call the HERO Program (1-855-HERO-411) and within minutes you can be on your way to upgrading and saving money for your home. In order to qualify, the homeowner needs to have at least 10% of the equity in the home. Since payments are attached to the property taxes, the qualification factor is based on the home and value. Perhaps you are renting out your property or wanting to sell after making some home upgrades? You can still qualify! The HERO payment is not attached to the qualifying individual, it stays with the property. For instance, if you sold your home the new buyer would be making the payment attached to the property taxes.
Once you receive confirmation of approval, check out the HERO website that offers a list of certified HERO contractors that are equipped and ready to assist you. There are many contractors to choose from, however, each contracting company is listed with the services they provide. If you already know what home upgrades to be done, search by category, location, or contractor’s name. The contractor or contractors if you choose to do multiple projects at a time, will give you the proposal of job costs and handle the initial paperwork and documents with the HERO department. On the financing documents, it will state the contractor, work to be performed, equipment information, and the years you will like to finance for. You will have the option to choose from 5, 10, 15, or 20 years. As soon as documents are signed, which can be done via eSIGN, the project(s) may proceed. When the work has been completed you will sign a completion certificate and the funding to the contractor will initiate.
Making A Payment
The first payment will commence on your property tax bill. If you pay your property taxes monthly or yearly, it will show as a line item on the property tax bill. However, your first payment won’t start until 15 months after the project! Also, there are NO fees if you choose to pay the balance off early.
Here is a list of popular upgrades homeowners have made to their homes.
- Tankless Water Heater
- Energy-Efficient Furnace
- Energy-Efficient Air Conditioner
- Insulated Ducting
- Programmable Thermostat (Included with Furnace or A/C)
- Home Insulation
- New Roof
There are many more options to choose from to save you money for your home! Take a look at www.heroprogram.com to find out more!