Installers: sell more solar

Energy Improvement Loans finance qualifying energy efficiency projects such as HVAC (heating, ventilating and air conditioning) systems, solar energy systems and windows.  If combined with qualifying equipment, you can apply up to 50% of the cost to energy efficiency performance upgrades such as insulation, air sealing and duct sealing.

With today’s low interest rates, your customers can save even more money as their system creates clean energy! Our 12-year rates start at 4.99%, 15-year rates start at 5.24% and 20-year rates at 5.74% for best qualified borrowers.

Your customer just hit the Jackpot with the longest loan term available in the industry. That means lower monthly payments. The new 21-year “Jackpot Solar Loan” from Community 1st is like three 7-year term loans back to back to back, so your customers get the lowest rates and lowest monthly payments available. A 21-year loan is divided into three 7-year fixed periods, with a fixed interest rate for the first 7 years.

When the rate resets at the start of the next 7-year term, it adjusts to the then current 7-year US Treasury (UST) rate, plus 3.25%. It resets again for the final 7-year term.

To illustrate how your customers rate will reset: if their rate adjustment date was on May 31, 2019, the new rate would be 5.28% (7-year UST of 2.03 + 3.25 = 5.28%). And to make sure your customer’s payments remain low, each adjustment can increase by no more than 2.5% over the previous rate in effect.

If your customer authorizes us to keep you up to date with the progress of their application, then we will CC you on email communications. When the customer’s application is approved, we will request a copy of the signed solar contract which should include:

• The payout schedule
• A description of the solar system
• System size in kWh
• Quantity and wattage of panels
• Quantity of inverters

While we will give you all the info you need to know for your peace of mind, we never expect your sales team to be the loan officers — that’s our job. In addition to the information here and for Homeowners, you can contact us while you’re with your prospect if they have any questions about financing. We are also happy to supply you with additional marketing materials and current rates.

You can be as hands-on or hands-off in the process as you want. Many of the most successful installers learn our process backwards and forwards so that they can guide and mentor their customers through it quickly and effectively.

You can also tell your prospects “rates as low as” and “terms as long as” and we will do the rest! From taking the application all the way through the loan underwriting process to finalizing the loan documents, we have you covered.

Customers can apply for a loan from any web browser on a tablet, smart phone, laptop or desktop:

• Web browser: Visit the Homeowners page.
• With questions: Call 800-493-1310 to speak with a member of the loan team.

If qualified, we will instantly approve the loan or immediately let them know if we need any additional information. If not instantly approved, it typically takes a few hours to receive a loan decision.  We strive to always respond within 1-2 business days.

We have promotional PDFs that describe the loan products and are easy to print or attach to emails.  Visit the Resources page to find these and other sales and marketing tools.