The information on this page was last updated on August 10, 2024
Florida PACE Funding Agency
There are several government financing options for impact windows and doors. One of the most popular options is the Florida PACE Funding Agency. PACE stands for Property Assessed Clean Energy, and it is a financing program that allows homeowners to make energy efficiency and wind resistance improvements to their property. PACE financing is based on the value of your home, and it is repaid through an assessment on your property taxes. This means that you can finance your impact windows and doors over a long period of time, typically 20 or 30 years, at a fixed interest rate.
--- https://floridapace.gov/
Energy Efficient Home Improvement Credit (EEHIC)
Another government financing option for impact windows and doors is the Energy Efficient Home Improvement Credit (EEHIC). This is a federal tax credit that allows you to claim a credit of up to 30% of the cost of qualified energy-efficient home improvements, including impact windows and doors. The EEHIC is available to homeowners who meet certain income requirements, and it can be claimed on your federal income tax return.
--- https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
---https://www.energystar.gov/about/federal-tax-credits
My Safe Florida Home Program
The My Safe Florida Home Program is a Florida initiative aimed at helping homeowners strengthen their residences against hurricanes and potentially lower their property insurance rates. The program is primarily for single-family homes and townhouses. All homeowners can get a free wind mitigation inspection, regardless of their intent to apply for grants which are based on the inspection report's recommendations, so getting an inspection is the first step. The program offers matching grants, meaning they contribute $2 for every $1 you spend, up to a maximum of $10,000 from the state. Keep in mind that the total grant amount depends on the actual cost of the impact windows and doors you install. The My Safe Florida Home Program website provides detailed information on eligibility, grants, and the application process.
--- https://mysafeflhome.com
In addition to state-sponsored programs, there are also local programs in South Florida that can help you finance impact windows and doors.
Miami-Dade County:
The Miami-Dade County Property Assessed Clean Energy Program (PACE) offers financing for energy efficiency and wind resistance improvements to homes and businesses in Miami-Dade County. PACE financing is based on the value of your property, and it is repaid through an assessment on your property taxes. This means that you can finance your improvements over a long period of time, typically 20 or 30 years, at a fixed interest rate. PACE financing can be used to finance a wide range of projects, including: Impact windows and doors, Energy-efficient appliances, Solar panels, Roof replacements, Insulation, HVAC systems and Water conservation measures.To qualify for PACE financing, you must be a property owner in Miami-Dade County. You must also have a good credit score and be able to afford the monthly assessment payments. To apply for PACE financing, you will need to contact a PACE provider such as FortiFi Financial, Inc.. PACE providers are private companies that work with the Miami-Dade County government to administer the PACE program. Once you have contacted a PACE provider, they will work with you to assess your needs and develop a financing plan.
If you are approved for PACE financing, the PACE provider will place a lien on your property to secure the loan. The lien will be paid off through an assessment on your property taxes. The assessment will be added to your property tax bill and will be collected by the Miami-Dade County Tax Collector.
PACE financing can be a great way to finance energy efficiency and wind resistance improvements to your property. It offers a number of advantages over other types of financing, including:
If you are a property owner in Miami-Dade County and you are interested in making energy efficiency or wind resistance improvements to your property, you should consider PACE financing.
--- https://www.miamidade.gov/global/economy/resilience/energy.page
Broward County:
The Broward County PACE Program offers financing for energy efficiency and wind resistance improvements to homes and businesses in Broward County.To qualify for PACE financing, you must be a property owner in Broward County. You must also have a good credit score and be able to afford the monthly assessment payments. There are a few differences between the Miami-Dade County Property Assessed Clean Energy Program (PACE) and the Broward County PACE Program.
Asside from these, the Miami-Dade PACE Program and the Broward PACE Program are very similar. Both programs offer the same types of financing, have the same basic eligibility requirements, and offer the same benefits.
--- https://www.broward.org/Sustainability/Pages/PACE.aspx
Palm Beach County:
The Palm Beach County PACE Program offers financing for energy efficiency and wind resistance improvements to homes and businesses in Palm Beach County. If you are a property owner in Palm Beach County and you are interested in making energy efficiency or wind resistance improvements to your property, you should consider PACE financing. Please note that PACE financing is not available to all property owners in Palm Beach County. The Palm Beach County PACE Program is currently only available to property owners in certain areas of the county. To find out if you are eligible for PACE financing, you can contact a PACE provider. The only difference between the Palm Beach County PACE Program and the Broward County PACE Program is the list of approved PACE providers. Each county has its own list of approved PACE providers that are authorized to offer PACE financing in the county.
--- https://discover.pbcgov.org/resilience/pages/pace.aspx
Leverage Your Mortgage and/or Credit
Home equity loans allow homeowners to borrow against the equity they have built up in their property. These loans typically have lower interest rates than personal loans and can be used for home improvement projects like installing impact windows and doors. A HELOC is similar to a home equity loan, but instead of receiving a lump sum, you get a line of credit that you can draw from as needed. This can be useful if you want flexibility in how you spend the money on your project. Check with your current mortgage company to see if a Home Equity Loan or Line of Credit is available to make the cost of new impact windows and doors more manageable. even using a credit card can be a convenient option, especially if you have a card with a low-interest rate or a promotional 0% APR period.
What is PACE | Florida PACE Funding Agency
WESH 2 News: My Safe Florida Home Program
The Tax Geek: Energy Efficient Home Improvement Credit
Wise Investment
Impact windows and doors can be a significant investment, but they can also save you money on your energy bills, add value to your home and protect your home from damage. By taking advantage of government financing options and shopping around for the best rates and terms, you can make the cost of impact windows and doors more affordable.
Financing for consumer loan programs is provided by federally insured, equal opportunity lender banks. Cannot be combined with other offers. Ask for details.
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