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You are here: Home > Information Center > ENERGY FINANCE > Solar Home Improvement Loan

Solar Home Improvement Loan

Whether you're being asked about financing or not, homeowners are looking for options on how to accomplish their solar goals. Many homeowners assume they need equity in their property to qualify for a home improvement loan. The FHA Title-1 Home Improvement Loan for solar is designed for people with or without equity.

Through the government backed FHA Title-1 Home Improvement Loan program, HUD insures the loan for eligible borrowers. There is no equity requirement, and no appraisal is necessary. This allows banks to finance your home improvement project faster than most other loans or leases. Because the loan is not specifically tied to the solar project, the homeowner can receive funds within two weeks of application approval. There is no design review or project approval by the bank. The homeowner gets funded quickly, you get your solar project started.

The FHA Title-1 Home Improvement Loan for solar panels offers many benefits not available through traditional financing options.

  • Loan decisions typically within 2 to 3 days
  • No equity required or appraisal required
  • Credit scores as low as 650
  • Secured loans up to $25,000
  • Unsecured loans up to $7500
  • Low fixed rates
  • No contractor fees
  • Quick pre-qualification and final approvals
  • 100% up-front funding, money disbursed before the project is started
  • Fixed rates from 6.96% - 13.95%
  • No pre-payment penalties with flexible terms up to 20 years

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