Residential Solar Financing Options
If you are a homeowner who is considering investing in a solar array for your property, you will face the decision of how you will pay for the system. Cash-out of pocket and home equity loans with your local bank are typically great options. Paradise Energy Solution has partnered with Service Finance to offer excellent loan options that feature different benefits.
If you have a very good credit score, you can probably trade in your monthly payments to your local utility that you will need to make forever, for a payment that is similar in size or smaller that will eventually provide virtually free electricity for you. That sounds like a good deal!
Service Finance Company has helped many homeowners achieve their dream of “going solar”. Their fast credit approval process and low-interest rates make them an attractive financing option. They offer three solar loan options to Paradise Energy Solutions’ customers, the first a 12 month interest only, followed by a 12-year term 2.99% interest rate loan with a maximum amount of $40,000, the second loan being an 18 month interest only, followed by a 15-year term 3.79% interest rate loan, and the third is an 18 month interest only, followed by a 20-year term 3.79% interest rate loan, the latter two with a maximum loan amount of $70,000.
They also offer other loans with different rates and terms that can be used as well. Service Finance loan features include:
- Low-interest rates
- No prepayment penalties
- 100% financing available
- Unsecured loans, no lien on your property.
The great feature of the no interest, no payments for 12 months loan is that it allows time for you to recoup any tax credits and/or rebates that typically take months to receive before you need to make payments and begin accruing interest costs.