Property-Assessed Clean Energy (PACE) financing allows homeowners to borrow money from a local government to make energy improvements to their home and pay back the cost over time through their property taxes. To accelerate the use of PACE financing for single-family housing, HUD’s Federal Housing Administration (FHA) announced that properties with PACE loans that are subordinate to the primary mortgage loan can be purchased and refinanced with an FHA-insured mortgage. HUD has issued a preliminary statement indicating the conditions under which borrowers purchasing or refinancing properties with existing PACE assessments will be eligible to use FHA-insured financing. More information on this topic can be found here.

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