LOS GATOS, Calif., Oct. 18, 2021 /PRNewswire/ -- Home Run Financing announced today that their new unsecured home improvement loan product, Home Run Loans, has financed more than $10 million in home improvement projects since the product was launched in July 2021. Home Run Financing currently operates in California, Kansas, Missouri and Florida.
"Hitting this milestone so quickly is an indicator that home renovations is a sector where Americans continue to spend their money," said Robert Giles, CEO of Home Run Financing. "It is a promising sign for the future of the home improvement lending industry."
To date, the most frequently funded projects with Home Run Loans have included windows and doors, heating and air conditioning, roofing and solar projects.
Numerous studies have documented a spike in home improvement activity since the beginning of 2020. The Better Business Bureau reports that more than three-quarters of all homeowners in the U.S. have carried out one or more home improvement projects since the pandemic began.
"From adding solar panels and solar-powered water heating, to renovating kitchens and bathrooms, to building additions, homeowners continue to invest in the value, comfort and efficiency of their homes at high rates," said Giles.
The company, formerly known as PACE Funding Group, also offers Property Assessed Clean Energy (PACE) financing for renewable energy and energy- and water-efficiency home improvements, as well as for hurricane and earthquake hardening and wildfire preparedness. Through Home Run Loans, homeowners can finance the same types of projects allowable under PACE, in addition to a wide variety of other home improvements, including kitchen and bathroom remodels, flooring, room additions, accessory dwelling units and many other projects.
Home Run Loans has quickly become a flagship product for the company, which underwent a name change in August 2021 to Home Run Financing to encompass both their ongoing popular PACE financing product and this new unsecured loan product.
Since August, for homeowners who live in a PACE-eligible territory, Home Run Financing has approved 90% of applicants for at least one of the two financing products. Home Run Financing is the only financing company currently offering both PACE and unsecured loans, allowing homeowners to use a combination of both products if desirable.
About Home Run Financing
Home Run Financing (formerly PACE Funding Group, LLC) started in California in 2014 and has helped tens of thousands of homeowners across California, Missouri, Kansas and Florida make upgrades to their properties. The company offers Home Run PACE financing for residential renewable energy, energy and water efficiency, and earthquake, wildfire and hurricane upgrades and repairs. They also offer Home Run Loans, a traditional unsecured product that covers a wide variety of home improvement projects. Learn more at www.homerunfinancing.com.
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SOURCE Home Run Financing