Setting the PACE for Contractor Success: GAF Launches Partnership with HERO
Are you taking advantage of the boom in Property Assessed Clean Energy (PACE) financing currently sweeping across California? With the program’s growth widely believed to only be in the early innings, there’s never been a better time for contractors to get in the game.
To help pave the way, GAF has launched a partnership with market leader HERO (Home Energy Renovation Opportunity), which finances four out of five residential PACE projects.
“The percentage of our roofing jobs that use HERO is dramatically increasing every month,” says Doug Heath, CEO of Ripon-based Nushake Roofing. “In my 40 years of roofing, it is by far the best way to help homeowners get financial help that I have worked with.”
So how does PACE financing work? This innovative program stems from state and local legislation, allowing business and government to partner and offer loans for energy-efficient home improvements. HERO is a local government-approved PACE program that allows homeowners to finance energy-efficient and water-saving home upgrades that can help lower their utility bills, and may also increase their property value. HERO offers more consumers access to energy-efficient options because HERO is an assessment on their property. Approvals are primarily based on the equity in the home rather than on the homeowner’s credit score, and the interest on the payments may be tax deductible.* HERO offers competitive, fixed interest rates and flexible terms of 5 – 25 years, depending on area and product type.
Attracted to the enhanced affordability and accessibility of credit for energy-efficient upgrades, homeowners are increasingly choosing PACE to finance their home improvement needs. “Homeowners like how user-friendly the process is,” says Heath.
Contractors who register with HERO are not charged registration or dealer fees. Contractors can track their jobs and quickly qualify homeowners through the company’s web portal. Like most forms of financing, HERO can help contractors obtain fair compensation for their quality service by spreading the cost for homeowners across a series of smaller payments over time. But HERO contractors report another key benefit that boosts profitability: the ability to qualify homeowners not only for roofs but also for projects such as solar, windows, and doors.
HERO will provide contractors with a complete list of GAF products that qualify for PACE financing. Of particular relevance to the PACE program are GAF Timberline HD® Reflector Series™ Shingles. These shingles can be used to comply with Title 24 roofing product requirements and offer rich color blends and an enhanced shadow effect to blow homeowners away.
If you are interested in signing up and receiving training through the HERO program, please contact your local GAF territory manager.
To give roofing contractors a flavor of the HERO experience, we spoke with Doug Heath, CEO of Ripon-based Nushake Roofing:
GAF: How long have you been a HERO Registered Contractor?
DH: Nushake Roofing signed up with HERO as soon as it became available in our area. It was everything we had been looking for. What is it with roofing contractors having to pay loan companies to get THEM business?
GAF: Can you describe the level of difficulty for a contractor to use the HERO dashboard and qualify people for financing inside the home?
DH: Our office staff is trained by HERO to help homeowners with the simple process. We’re able to use their estimating tool that checks the homeowner’s eligibility before we go out on the estimate. Many times homeowners apply while we’re on the roof estimating and know if they’re eligible for HERO financing right away, so that we’re able to sign the agreement and get them on our schedule.
GAF: How has HERO benefitted you in comparison to other forms of financing you have used?
DH: HERO’s customer service is amazing. If I’m unsure how to help a customer, they’ll call for me. They are always willing to help. We don’t have to pay a service fee as we do with many lending companies. Their service is extremely contractor friendly!
GAF: How has the HERO Program helped your business?
DH: It has had a dramatic effect on increased sales. It allows homeowners to afford upgrading their roof system to an energy-efficient GAF Roof System that has an incredible worry-free roof.
*Consult your tax advisor for information.