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How Solar Has Helped All Home Renovators

How Solar Has Helped All Home Renovators

It seems like a distant memory now, but only a few years ago it seemed financing a solar loan was basically limited to only one or two options. If you didn't have a close relationship with your local bank or have enough equity in your home you were stuck without solar or the dreaded commitment of leasing.

Now with the current financial market understanding and accepting the benefits of solar, the millennials embracing it, and coupled with the incentives it seems the amount of financing platforms available to everyone is ever increasing. This is not just great for the solar industry but all home improvement industries abroad. The advantages compound if you do any other home improvement at the same time as a solar install, increasing your rebate.

As for home improvement loans and the financial industry I feel as if the 08/09 crisis made both the banks and the homeowners aware and almost force them to deliver and use better products than the typical HELOT. Increasing in popularity is the FHA Title 1 loan. This has an advantage because it is a tax deductible loan for the homeowner. For the contractors offering financing whether it is siding, roofing, or even solar there is no "Contractor's fee". Those two words seemed to be loved by the banks and hated by the contractors. Very rare is there a product we can offer that keeps the contractor, the bank, and most importantly the customer happy.

With favorable rates and lengthy terms it appears the growth of the FHA Title 1 loan is here to stay. We look forward to seeing what the future brings everyone.
  • #renovation
  • #home
  • #loans
  • #equity
Ted "The Wolf" Strzelecki
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