One of the questions we receive is "Which lenders have agreed to subordinate their lien to a PACE loan?" The following list is excerpted from the PACENow Lender Support Update.
The underlying question is "Why would a lender agree to subordinate their interests to a new PACE loan?"
The answer is simple: The property receives the benefit of 100% of the improvements while only the annual assessment payments due are ahead of the existing lender's position.
Improved cash flow, property value, an improved tenant profile and a lower cap rate all go into making an existing lender want to support a property owner's efforts to improve their collateral value.
This is evidenced by a growing list of existing mortgage lenders who have consented to a PACE loan assessment.
We can help you prepare a Compelling Argument for your existing lender by your reading our PACE 101 Page.
For more information please review the PACENow Lender Support Update.