Dividend’s flagship Solar PV financing product, the EmpowerLoan provides homeowners the opportunity to go solar, and own their system with a quick and easy, low-rate financing solution. This document outlines the attributes of the solar loan as well as the underwriting guidelines associated with it.

Loan Overview

  • Instant Credit Prequalification through Dividend Partner Portal
  • $0-Down Solar Loan
  • The Loan structure provides that the first 16 months are Interest Only payments allowing for a flat payment, assuming an Incentive Payment equal to 30% of the financed amount is paid towards the loan balance by the 16th month, at which time the loan will re-amortize based on the outstanding principal
  • If the homeowner chooses not to make the Incentive Payment, the loan will re-amortize based on the outstanding principal, resulting in an increase to the monthly payment
  • No pre-payment penalty
  • No lien on Borrower’s home – loan secured with a UCC-1 filing on system only
  • Optional 20-year service plan through 3rd party

Underwriting Guidelines - Borrower & Home Qualifications

  • Interest rates based on selected Dividend rate structure and Customer Prequalification:
  • 660 minimum FICO score – exceptions may be made
  • Soft credit check and instant prequalification
  • Minimum loan amount dependent on state regulations
  • Maximum loan amount based on consumer eligibility
  • $40k minimum household income
  • Income verification waived for well qualified borrowers
  • Collections may be waived based on credit
  • Prior bankruptcies must have been discharged a minimum of 2 years
  • Any verification documents should be uploaded through the

Partner Portal Primary, Co-Borrower and Co-Signor Information

  • Primary Borrower must be on title of the property, if applicable.
  • A Co-Signer can be used for additional income (must live in the home)
  • In some situations, we may accept a Co-Borrower - additional conditions and diligence will be required

Homeowner’s First Payment

Through the 16-month IO Payment Structure, the homeowner’s first payment will be due approximately 30 days from Substantial Completion Approval. Interest begins accruing at the time of Substantial Completion Approval.