For homeowners wanting to add solar energy systems and/or battery storage to their home and have the CHOICE to take advantage of the Federal Solar Investment Tax Credit.
The CHOICE product has an amortization schedule designed for homeowners planning to pay down at least 26% (potentially received by the Solar Investment Tax Credit or other funds) in the first 18 months. After month 18, payments are adjusted higher if less than 26% is paid, or lower if more than 26% has been paid.
For homeowners wanting to add solar energy projects, PLUS make other improvements, like upgrading their HVAC unit, roof, doors, windows + more at the same time.
The PLUS product’s standard monthly payments remain the same with a one-time reamortization occurring at month 18. This is perfect for homeowners who don’t plan on receiving the Solar Investment Tax Credit. Using extra funds to pay down the loan before month 18, however, will result in an adjusted lower monthly payment for the duration of the loan.
PowerSwitch CHOICE & PLUS Features + Benefits
Total Household Income
Enable homeowners to use total household income to qualify
Battery-Only Solar Loans
Battery-only loans available, regardless of an existing solar loan
Loans for Projects on Second Homes
Includes projects on second homes, vacation homes, and rental properties
Second Solar Loans
Includes battery only, system only, or battery+system for primary or second home
Soft Credit Check
Instant pre-approval decisions with soft credit checks early in the process
Bundle up to half of a new roof with solar on the same loan
Next-day funding and staged funding to get paid faster
If a competitor approves a Mosaic-declined homeowner on the same day
How are the CHOICE & PLUS Loan Structures Different?
A Financing Platform That Works for You
Mosaic Contractor Partners get access to a wealth of sales tools in the Solar Partner Portal, including our Resource Center, which provides training and info to help you close more deals.