A Cash Out Refi allows you to refinance your mortgage for more than you currently owe. The difference and the equity is converted into cash for the homeowner.

The money you receive from your equity can be used for things other than financing of your solar panel installation. You can utilize your home’s equity to:

• Pay down higher interest debt – Even with historically low rates your average mortgage rate is 10-12% lower than your average credit card.
• Eliminate variable interest HELOC loans – Lock in a fixed interest rate to protect yourself from inevitable rate hikes on lines of credit tied to your equity.
• Start a college fund – Utilize equity to jump start savings for your children’s tuition for school.
• Make other home improvements – In addition to installing your solar panels you can utilize the equity of your home to remodel bathrooms, paint, repair or expand your home.
• Emergency Fund – With inflation many families are seeing their budgets dwindle and are unprepared for emergency expenses for things like medical bills and car repairs. Jump start your savings at low interest using your home’s equity.

During your initial consultation we do not require a credit check. We will discuss your options and review your home’s current equity as well as your borrowing power.

In order to assist you further and fully pre-approve you for your Solar Equity Refi we will eventually review your credit as a part of your application.