Getting A Mortgage Loan With Solar Panels On Your House

August 8th, 2021

solar panels

With the popularity of electric cars and solar panels increasing, it’s important to point out that having solar panels on your house may impact your ability to get a mortgage. Many times, buying solar panels will be financed, and that is what they have an impact on your ability to purchase or refinance a mortgage.

If solar panels have been paid for in cash then that doesn’t impact your ability to finance the purchase or refinance of the property.

If you are buying a house with solar panels that have been financed and you’ll take over the loan, or if you own a house and plan to finance solar panels and then want to refinance, you should ask what the requirements for solar panels are to get a mortgage?

Solar panels financed with a PACE loan are not eligible for a mortgage at all. The mortgage lender needs to determine financing structure to maintain first lien position. If a UCC fixture filing is senior to the mortgage loan, it must be subordinated.

Mortgage guidelines have the ability to change at any time, so always talk to a well-reviewed mortgage loan officer to make sure you understand the current guidelines and how they might apply to you.

Brian Martucci is a loan officer for Capital Bank Home Loans, a division of Capital Bank, N.A. He has been in the mortgage industry since 1986 and has served in a number of roles, including loan processor, loan officer, mortgage broker, branch manager, and vice president. Brian Martucci – NMLS# 185421. His opinions do not necessarily reflect the opinions and beliefs of Capital Bank Home Loans or Capital Bank. Capital Bank, N.A.- NMLS# 401599. Click here for the Capital Bank, N.A. “Privacy Policy”.

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