Underwriting Requirements


  • Minimum Fico score of 650

    • Highest Credit Score all three bureaus for any borrower will be used to determine FICO score. 

  • Co-Borrowers are allowed

    • Only one borrower needs to be on title to the home, co-borrower does not. Will still use co-borrowers FICO score if highest, even if they are not on title or not occupying the home.

  • Maximum loan amount:

    • 650-699: $50,000

    • 700+: $100,000

  • No DTI for ICO over 700

    • If FICO is between 650-699, DTI can be 55%. (Solar Loan not included in DTI calc).

  • Any additional items needed to facilitate the installation of the solar system can be added into the loan, including full roofs, MPU Upgrades, etc. (Not all will qualify for the ITC)

  • Allow BK or Foreclosure if at least 4 years old

  • Will allow 30 day late on mortgage in last 12 months.

  • Loanpal will finance:

    • Owner occupiers residences, second/vacation homes, up to 4 unit residences (Including Townhomes)

  • No condo's or mobile homes, or investment properties, roof must be owned, not shared.

  • Will finance two systems per borrower.

  • Will finance up to 35% of the loan on additional energy efficient upgrades.

  • Funds within 48 hours of install, making it possible for you to receive commissions two days after install!