Clearly, no one can dispute that generating solar power in Massachusetts is an excellent investment. However, the upfront cost of a photovoltaic purchase can see prohibitive to most consumers. Even though our company does offer a $0 down monthly solar lease, some would still prefer to make a purchase. With quick approvals, competitive interest rates, and better cash flow scenarios, an FHA home improvement loan eliminates cash as the obstacle to solar power adoption.
Through our relationship with DC Power Systems, one of the largest photovoltaic distributors in the country, we are now able to offer a FHA-backed residential solar loan available in increments up to $25,000 for a single family home or $12,000 per unit (up to 5 units). Most homeowners assume that equity is required in their property to take out a home improvement loan. With a FHA-backed loan, you can be approved for credit with or without equity and an appraisal is not needed.
Other program benefits include, but are not limited to:
- Loan decisions within 1 to 2 business days
- Credit scores as low as 650
- Secured loans up to $25k
- Unsecured loans up to $7.5k
- Up to 20 year terms with no prepayment risks
- 100% upfront funding – funding is given before project is complete
- Fixed rates between 6.95% and 13.95%
Brightstar Solar is a Massachusetts solar installer that can help you find the most appropriate method to fund a PV system. Through our contacts, we can connect you with low-interest loans and creative leasing options. Our company offers a complimentary solar evaluation so you can decide if solar power is right for your home or business. Rebates are not for “do-it yourself” projects and you must involve a licensed solar installer. Please contact us online or at 617-564-0050 to schedule an appointment.