What is Riverside County HERO Program?
HERO stands for Home Energy Renovation Opportunity. HERO is a loan program for home and property owners in Western Riverside County communities to qualify for low interest loans to install solar power. HERO loans are easier to qualify for than solar leases, and these property tax loans can be used for solar power and thousands of energy efficiency projects.
HERO is simple to qualify for and provides low interest loans for solar power and cool roofs. HERO loans require no credit score and no home equity requirements to qualify. Most home owners will be approved for solar installation and the loan is paid back through a tax assessments on their property tax bills over 5-20 years.
HERO Program Qualifications
Basics HERO Program solar power qualifications:
- No Credit Score Requirements
- Low interest rates with fixed payments
- Loan payments paid with your Property Taxes
- 150,000 eligible energy and solar power products
- Balance Transfers to New Property Owner Upon Sale
- Interest is Tax Deductible**
PetersenDean can prepare free solar power estimates for your HERO Loan application and answer basic questions, but for a full HERO FAQ visit HERO Program FAQ page
Where is HERO Solar Power Loans Available?
Residents in the following Western Riverside County cities and communities can apply for solar power loans through the HERO program: Banning, Calimesa, Canyon Lake, Corona, Eastvale, Hemet, Jurupa Valley, Lake Elsinore, Menifee, Moreno Valley, Murrieta, Norco, Perris, Riverside, San Jacinto, Temecula, Wildomar and unincorporated areas.
Why Choose PetersenDean as your HERO Partner for Solar Power?
PetersenDean makes it easy to work with the HERO Program. As the only licensed roofing contractor and solar power installation we are your one-stop-shop for roofing and solar projects financed through HERO. Solar Power Our PowerSaver Series are pre-engineered solar power systems with a set price. We pass the savings onto our customers, with the most competitive prices in the industry, typically 30% less than the competition. The PowerSaver Series makes the HERO loan application easy for our customers. Simply find the PowerSaver Series that fits your bill, and contact PetersenDean. Our local team will confirm your system selection and help you with the HERO program process.
Who is Eligible for HERO?
Homeowners who meet minimum criteria are eligible for HERO Financing. In order to quality for HERO loan, the following requirements must be met:
- The loan recipient must be the property owner(s) of record
- Current on their property taxes for the prior year
- Property owner(s) must certify that the property taxes for this property have not been paid late more than once during the prior three years or since purchase if owned for less than three years
- No late payments on property debt for the past twelve months through funding
- No liens on the property
- No bankruptcy in the past seven years and property is not currently an asset in a bankruptcy proceeding
- Eligible Product costs cannot exceed 10% of the property’s market value
- Mortgage-related debt on the property may not exceed 90% of the property’s value
- Manufactured and mobile homes must be attached to the property, own the underlying land, and pay real property taxes (not DMV fees)