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Looking to get a loan to install solar panels. Where should I start?

by jolene768 from Monroe, Utah. Jun 21st 2016 Reply


Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 419 contributions

You could look at a cash-out refinance, or seek out a small home equity line of credit from a local bank. I would speak with a local mortgage loan originator first to see what your options are, and go from there.

Jun 21st 2016
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Ivan Diaz (IvanDiaz)
#137 ranked lender in Texas - 24 contributions

Lorne is right. A cash out home mortgage or a 2nd mortgage (equity loan/line) are some great options. Speaking with a mortgage consultant can help you weigh your options on what is best given your current mortgage.

Jun 22nd 2016
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Cash out refinance or HELOC (Home Equity Line of Credit) is the way to go.

Jun 22nd 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Much more info needed, but in general, you should talk to the solar panel company.. they all have financing options.. You can lease the panels or get a 2nd loan to pay for them.. But taking out a 2nd mortgage, a cash out mortgage or doing a HELOC will all require that you have sufficient equity.. but the solar companies loan/lease options do not require equity.. So I would start with them. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jun 22nd 2016
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