Solar Hot Water Financing

How to Finance Your SunMaxx Solar Hot Water Heater

While the initial out of pocket expenses of a solar hot water heater may be higher than a traditional hot water system, it has been proven time and time again that these systems pay for themselves, and more, in a matter of just a few years. And, to limit your initial out of pocket expense, many people opt to finance their Solar Hot Water heaters in order to spread the payments out over a period of time – and with the low monthly payments available on certain loans, you can have your SunMaxx Solar Hot Water Heater pay for itself even earlier than normal.

Financing for Solar Hot Water Systems is available through the following agencies and companies.

Agency	Program	Loan Amount	Collateral & Term	Interest Rate	Energy Features and Systems Covered
Fannie Mae Corp. www.fanniemae.com	(a) Conventional Mortgages; (b) Residential Energy Efficiency Loans	(a) up to $240,000 (b) up to $15,000	(a) secured; 1 to 30 years (adjustable, fixed, or ballon); (b) unsecured; up to 10 years	(a) market rates (b) usually below market rates	(a) Energy efficient Mortgages; (b) Energy effiency upgrades: solar water & space heating, PV Systems
Federal Home Mortgage Loan Copr. www.freddiemac.com	Conventioanl Mortgages	up to $240,000	First mortagage to 95% loan-to-value; 15, 20, & 30 years (including balloons)	fixed at market rates, variable at prime +2%	Energy-efficient mortgages that meet Freddie Mac’s Criteria
US Dept of Agriculture (USDA) www.usda.gov	Rural Housing Service, Rural Business-cooperative Service, Rural Utility Service	$300,000 (average)	As negotiated with RUS borrower; 10 years	0%; conventional mortgages at market rates	Solar Thermal Systems; PV Systems
US Dept of Energy (DOE) www.doe.gov	Energy Savings Performance Contracts, State Energy Conservation and Weatherization Assistance	Varies	Unsecured, Varies	Rate Varies	Energy-efficient features and equipment; Solar Thermal Systems; PV Systems
US Dept of Housing & Urban Development (HUD) www.hud.gov	Energy Efficiency Mortgages for FHA 203(b) and (k) Insurance Programs, etc,; Special HOME, HOPE VI, and Title I Programs for energy efficiency and solar system (with limits)	HUD Area Limit	First mortgage: to 120% loan-to-value, Second Mortgage: no maximum loan-to-value; 10 and 30 years	Fixed or Variable Rates	Energy-efficient features; Solar water and space heating; PV Systems; EEMs to 10% above base loan amount
US Dept of Veterans Affairs (VA)	VA Home Mortgage loan Program	up to $203,000	First Mortgage: 100% loan to value plus costs; 10 and 30 years	Fixed Rates	Energy-efficient features and appliances; Solar water and space heating; PV Systems; EEMs to 10% above base loan amount
US Environment Protection Agency (EPA) www.epa.gov	Energy Star Rated Home, Energy Star Rated Building	Guided by Fannie Mae and Freddie Mac Limits	First Mortgage: to 120% loan to value; 30 years	Market Rates, but discounts are available on some loans	Energy efficient features making home up to 30% more efficient than code; solar thermal and space heating; PV Systems; 10 year or less payback required
US Small Business Administration (SBA) www.sba.gov	7(a) std small bus loan, 7(a)-12 Energy Loan Program, 7(m), etc.	up to $750,000 guarantee (7(a))	Guarantees 80% to $100,000; 75% if more than $100,000; Varies	Market Rates	Energy-efficient features; PV Systems, Solar Thermal Systems, and other Renewable Energy Systems