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 two term loan options to Paradise Energy Solutions customers, one loan being a 12-year term, 2.99% interest rate loan, and the other is a 20-year term, 5.99% interest rate loan, with a maximum loan amount of $40,000. They also offer a 3rd loan option that has a “0% interest rate and no payments for 12 months” feature with a maximum of $25,000 that can be used alone or in combination with the term loans. Other 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.