Purchase Solar and Storage With No Money Down

Start saving money right away, with just your signature! 180 Solar Power has numerous purchase financing options that allow you to install solar & storage system with little or no money down, and an affordable monthly payment, regardless of your credit history. Any of the options below can be structure that way. What are you waiting for? Click here now for a free consultation, and to learn more about your options.

PACE Financing

180 Solar Power has access to a variety of PACE (Property Assessed Clean Energy) financing programs, all of which share similar characteristics. Those characteristics are: 1) PACE financing will cover up to 100% of the cost of a solar & storage system and requires no money down. 2) There is no minimum credit score, DTI (debt to income ratio), or employment requirements with PACE financing. As long as the property has a minimum of 10% equity, the property owner is current on the property taxes, has not had more than one late mortgage payment in the past 6 months, or a bankruptcy in the past 24 months, then they may be eligible for PACE financing. 3) Rates are reasonable, payments are low and terms vary from 5 to 30 years. 4) The “loan” is made to the property owner’s property, not to the property owner, and payments are made through the property taxes. 5) Because the payments are made through the property taxes a portion of them may be tax deductible. 6) Because PACE financing is attached to the property taxes and not the property owner, it may be transferred to a new property owner when ownership of the property is transferred. 7) Because PACE financing is attached to the property and not the property owner, it is not reported on the property owner’s credit report, and it therefore does not affect the DTI on the property owners credit report.

Unsecured Financing

There are a number of different unsecured lenders that 180 Solar Power has relationships with. Their programs vary, however most share the following characteristics: 1) They will cover up to 100% of the cost of a solar & storage system with no money down. 2) They are 100% unsecured, therefore a lien will not be placed on your property. 3) They have low fixed monthly payments. 4) They have no prepayment penalties so they can be paid off at any time. 5) They have minimal or no fees. 6) The loans are usually approved in 24 hours or less.

Other major highlights are listed below:

1) No Payments/No Interest (No/No)

programs are bridge financing programs that allow property owners to get a solar & storage system installed on their property without having to pay any interest, and without making a single payment on their solar & storage system for a full year. For some property owners, this means a full year of free electricity, as they are no longer making payments to their utility company either.

2) Reamortization, or Delayed Amortization

programs provide property owners with single digit, fixed interest rates, and terms of up to 30 years to help keep their monthly payments low and predictable. Most of these programs either: A) finance the loan for the full cost of the solar & storage system, and then allow the customer to use the savings from their tax credit or other financial resources to make a lump sum payment which results in a lower fixed monthly payment; or B) the loan payments start out lower from day 1 based on an assumed future lump sum payment, and it increases accordingly if that lump sum payment is not made.

3) Fixed Rate

programs are very straight forward, and are more like conventional financing. With an unsecured, fixed rate loan you simply pick a rate and a term, and you are locked in until the loan is paid off. As with all fixed rate loans, the shorter the term, the lower the interest rate will be. However, it is also true that the shorter the term, the higher the payments will be, as the loan has to be paid off in a shorter period of time. Most fixed rate programs have terms ranging anywhere from 5 to 20 years.

4) Hybrid or Combo Loan

programs provide some property owners with the best of both worlds. It allows property owners to apply a pre-determined portion of their financing to a NO/NO loan, and a pre-determined portion to a fully amortized, fixed rate loan. This gives some property owners the comfort of knowing exactly what their payment will be for the entire term of their loan, without having concern about reamortization or other factors.

Secured Financing

Of all the financing options, equity loans have the most laborious processes, and take the longest amount of time to complete. However, if you want to tap your property’s equity, 180 Solar Power has relationships with some of the top equity lenders in the industry. Whether it be a Home Equity Line Of Credit (HELOC), fixed second mortgage, or a refinance, we have the relationships to help our customers find the best rates and terms, with the fastest approvals and fundings, so they can start saving money sooner. And as with the other purchase options, most secured financing will cover 100% of the cost of a solar system, with no money down.

To learn more, click here to schedule a free consultation.

About us

180 Solar Power is a local family owned company that services residential, commercial, non-profit and government customers throughout southern California. 180 Solar Power is a licensed C-10 electrical and C-46 solar contractor.......Learn More