Scribd Logo
Upload

Welcome to Scribd!

  • 2 Mortgages Exclusively For Solar Installations

    Uploaded by

    api-270467158
    51 views14 pages
    2nd Mortgages Exclusively for Solar There is a dire need for fast, low-cost, secured funding to provide for solar installations. Currently the most inexpensive way to finance solar is for homeowners to acquire a HELOC on their own and then return to the installer when ready. Solar second's goal is to develop an efficient lending platform that marries quality solar installations, well-qualified homeowners, and regional banks.

    Original Description:

    Original Title

    Untitled

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    2nd Mortgages Exclusively for Solar There is a dire need for fast, low-cost, secured funding to provide for solar installations. Currently the most inexpensive way to finance solar is for homeowners to acquire a HELOC on their own and then return to the installer when ready. Solar second's goal is to develop an efficient lending platform that marries quality solar installations, well-qualified homeowners, and regional banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    51 views14 pages

    2 Mortgages Exclusively For Solar Installations

    Uploaded by

    api-270467158
    2nd Mortgages Exclusively for Solar There is a dire need for fast, low-cost, secured funding to provide for solar installations. Currently the most inexpensive way to finance solar is for homeowners to acquire a HELOC on their own and then return to the installer when ready. Solar second's goal is to develop an efficient lending platform that marries quality solar installations, well-qualified homeowners, and regional banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 14

    www.solarseconds.

    org

    2ndMortgagesexclusivelyforSolarInstallations
    AlexEricksonSoleProprietor
    DRELicense#
    NMLSLICENSE#
    POBOX33023LosGatos,Ca95031
    alex@solarseconds.com

    2ndMortgagesExclusivelyforSolar
    Thereisadireneedforfast,lowcost,secured
    fundingtoprovideforSolarInstallations
    TheGoal:Developanefficientlending
    platformthatmarriesqualitysolar
    installations,wellqualifiedhomeowners,and
    regionalbankstohelptheenvironment,lower
    utilitiybills,raisethevalueofthehome,and
    buildlastingconsumerrelationships.

    CurrentSolarLendingEnvironment
    Currentlythemostinexpensivewaytofinance
    solarisforhomeownerstoacquireaHELOCon
    theirownandthenreturntotheinstallerwhen
    ready.
    Personalloansusingtheinstallationascollateral
    requireeither:
    HighInterestRates(9%andabove)
    ORaBuyDownofthedebtforareducedinterestrate,
    whichcausesrisinginstallationpricesandlostrevenue
    totheinstaller

    SolarSecondsSeeksBanking
    Relationship
    Findregionalbanksthatareseekingtogrow
    theirconsumerbase
    JointlyDevelopanexpresslendingplatform
    thatwillbeexclusivelyofferedbythemin
    theirdesignatedterritory
    BothpartiesCommittofundingof$500,000
    permonth,perregion.

    ProposedTerms
    BusinessRelationshiptermsandexpectations
    HomeEquityQualifications
    LoanTerms

    OngoingBusinessTermsand
    Expectations
    14BusinessDayFundingCycle
    5dayearlycommitment

    PaperlessApplicationviaweb
    Planfornoappraisalorlowcost/fastappraisals
    AbilitytoReAmortizeloanonetimewithin18
    monthstoprovideforFederalTaxCreditRefund
    Establishparameter(s)forloanexpansionto
    provideforelectrical,HVAC,roofing,complete
    refinance,andHELOC

    HomeEquityQualifications
    79%LTVorgreater
    And/Or2.5Xofsystemcostinequity
    12monthsofontimepaymenthistoryonFirst
    Loan
    Propertiesonlywithafirstmortgagewithno
    outstandingliensordeferredpropertytaxes.

    LendingTerms
    25yearLoan
    4%5%interestbasedCreditHistory,etc.
    5%CashDownPayment
    2%feetoBroker,paidbyhomeownerfrom
    loanproceeds
    AutoDebitPaymentforreducedinterestrate

    CostComparisonfora$30,000system
    9.99%
    4%SolarSecondLoan
    InitialMonthlypayment InitialMonthlyPayment
    $358.35

    TaxCredit
    $9,000

    Estimatedpayment
    afterreamortization
    $250.84

    158.35

    TaxCredit
    9,000

    Estimatedpayment
    afterreamortization
    110.85

    MarketInterest
    Thereisarabiddemandforsolar,butits
    primarylimitationisduetofinancingoptions
    currentlyavailable.
    EVERYONEwantssolar,butmostneedmore
    affordablefinancingtomoveforwardwith
    owningtheirownpowerplant.

    StrategicAlliancewithSolarInstaller
    Findasolarinstallerwith20yearsexperience
    inthesolarsalesandinstallationbusiness
    Partnerwiththeminthedevelopmentofthe
    lendingplatformtocertainitwilldesignedto
    beperfectlysuitedforthesolarcustomer
    Haveenoughtodemandfortheplatformto
    expectfundingof$1,000,000inthefirst
    quarter

    MarketExpansion
    Solarinstallationsisoneofthefastestgrowing
    andmostcompetitivemarkets
    Afterbestpracticesaredevelopeditis
    reasonabletoplanformonthlyoffunding
    greaterthan$2,000,000throughout
    California.

    MotivatingFactorsforBank
    Newrelationshipswithwellqualified
    homeowners
    Solaraddsdollartodollarvaluetotothe
    home.A$500,000homewithanew$50,000
    solarsysteminstalledwillappraisefor
    $550,000perHUDscodesectionfor
    appraisers.
    MinimalimpactonLTVwhenallproceedsare
    forsolar.

    Solarseconds.orgCurrentStatus
    SeekingProposaltermsfromregionalbanksto
    joinlendingprogram.
    SeekingSolarInstallerforstrategicalliance

    You might also like