What are the eligibility criteria for HERO Financing?

Homeowners who meet the minimum criteria below are eligible for HERO Financing. Specific eligibility requirements for residential properties include the following:


All mortgage-related debt must not exceed 90% of the value of the property.

Mortgage payments must be current at the time of application, and property owner(s) must not have had more than (1) 30-day mortgage late payment over the past twelve months.

Property taxes must be current and there must be no more than one late payment in the past three years.

No outstanding involuntary liens, such as tax liens or mechanic's liens.

Property owner(s) must not have had any active bankruptcies within the last seven years, and the Property must not be an asset in an active bankruptcy. However, if a bankruptcy was discharged between two and seven years prior, and the property owner(s) have not had any additional late payments more than 60 days past due in the last 24 months, the property owner may be approved.

Mobile homes must be permanently attached to the property and the owner of the underlying property must be the applicant and be subject to real property taxes

For more information, please go to www.heroprogram.com.


What products are eligible for HERO Financing?

There are more than 900,000 products that are eligible for HERO Financing. Generally, energy and water efficient products and renewable energy systems are eligible. Please explore the list of Eligible Products at www.heroprogram.com for more information. If you wish to install a product that is not on the list contact us at 1-855-HERO-411 (1-855-437-6411) to get an application.


If I owe more on my house than its market value, am I still eligible for HERO Financing?

No. Total mortgage liens on the property cannot not exceed 90% of the value of the property.


Can a mobile home/manufactured home qualify for HERO Financing?

Mobile homes (and manufactured homes) are eligible if they are permanently attached to the real property and pay real property taxes (not DMV fees). The mobile home owner must also be the owner of the underlying land. Since an AVM value is often not available for mobile or manufactured homes, the tax assessed value or recent appraisal value may need to be used for the debt-to-value and Eligible Product costs calculations.


Does a condominium qualify for HERO Financing?

Condominiums may be eligible depending on the Covenants, Conditions and Restrictions (CC&R's) of the complex as well as the physical design of the unit. Condominium owners who apply for HERO Financing may need to obtain written authorization from condominium management stating that the property owner is allowed to install the proposed Eligible Products.


Can a property placed in a trust qualify for HERO Financing?

Yes. Trust property is eligible for HERO Financing if adequate documentation of the Trust, and the applicants' authority under the Trust, are provided with the application. All Trustees must sign all HERO Program documents.


Are commercial properties eligible for HERO Financing?

Yes. Commercial properties are eligible for HERO Financing. Please go to wrcog.herocommercial.com for more information about commercial financing.