Do solar loans work?
90% of homeowners who are installing solar panels do solar loans work allowing them to have a lower monthly payment than continue their electric bill.
What about the credit score?
To access this loan, it is required to have a credit score above 600 points and to be in the title of property of the house.
There are many financing banks, and our team works with practically all of them, and within the most common financing terms are terms of 25 and 30 years, the reason is that families want the monthly payment to be less than their current electric bill.
But there are also financings for 5, 7, 10, 12, and 15 years, presenting multiple interest rate options, amortization programs that give homeowners the opportunity to pay capital without any penalty and even place on the loan (if they wish) the money received as a federal incentive from form 5695 or a part of this benefit.
Enter here, to know in detail everything related to the federal tax incentive when solar panels are installed.
Can I transfer the loan?
In most cases, these loans are transferable at the time of selling the house or can also be fully paid without any penalties in less time than projected and do not generate any lean or mortgage on the house.
Also, they do not affect the credit score due that within the debt-income ratio the payment of public services is already contemplated, and solar replaces the payment of the energy service at home with a lower value.
What can I do?
No matter which option you decide is best for you, the result will always be the same: Clean energy for your property and more money in your pocket for the things that really matter to you.
Now that you know that you can install solar panels without having an initial payment, click here to have free virtual consulting, and with the help of an expert, you can install solar panels at home.
Get a professional and honest solar quote
Diego and Jennifer, lead a team of solar experts with +7 years experience in over 22 different states in America. We would love to help you switch to solar the right way!
Get a professional and honest solar quote
Diego and Jennifer, lead a team of solar experts with +7 years experience in over 22 different states in America. We would love to help you switch to solar the right way!
