These loans are financed with no down payment required. These projects are financed over a 3-to-10 year period and require no down payment. Borrowers may be eligible for certain energy rebates from their local power providers.
RESIDENTIAL SOLAR FINANCING PROGRAMS
All residential loans may be eligible for federal and state income tax credits, as well as rebates from your local power provider.
Personal Property Loans Personal property loans will represent financing for the installation of solar components (which will act as the collateral for the loans) on single-family residential homes. The borrower will be required to make a 25% down payment with the remaining amount to be financed for up to 10 years. Subject to credit approval there is no maximum amount.
Home Equity Loans For borrowers who have sufficient equity in their homes and are willing to use their home as collateral, a home equity loan offers lower interest rates and a longer amortization term. Depending upon credit quality the down payment on the installed system will range from 0% to 25% with the remaining amount to be financed for up to 15 years. The total of all mortgages may be up to 80% of the appraised value of the home.