If you’re like most consumers, your primary goal with going solar is to save money. Exorbitant utility bills are never ending, but by purchasing a solar system and financing it, there is an end date, and ideally you are lowering your monthly energy bills.
When choosing a lender, you want to make sure you are 100% informed of the entire process, which includes:
- Your interest rate
- Your loan term
- Total interest you will pay for the life of the loan
- Any required down payments
- Any fees that may be associated with the loan (prepayment penalties, annual fees, late fees)
- How the payments will be made (through property taxes, from a bank account, etc.)
- The start and end date of the loan
Another important factor is that you want a knowledgeable, experienced loan officer working directly with you for your loan; someone who is available to answer any questions, and fully explain the loan process, so you understand it and are comfortable with it. MCCU’s loan officers do just that, and they are always happy to help.
With a solar loan from MCCU, not only will you work with one of our friendly loan officers, your loan is very straightforward. The MCCU Solar loan features:
- Low Rates
- Terms up to 20 years
- No payment due for the first 90 days (interest will accrue)
- No down payment required
- No prepayment penalties
- Automatic payments from any credit union or bank account
What Happens if you Want to Sell Your Home?
If you still owe money on your MCCU solar loan and want to sell your home, no problem! All you would do is add the remaining loan amount to the purchase price. Having solar may also add to the value of your home!
Ready To Get Started?
MCCU works with almost 200 approved contractors – we do the background checks for you! f you already have a contractor you’re working with that isn’t on our approved list, we can get them approved quickly and easily.
Go Solar With MCCU Today and take advantage of the tax credit before it's lowered next year!
« Return to "Matadors Money Matters Blog"
