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Solar Lease Rules for Mortgages

Solar lease rules for mortgages. If you have a solar lease in place on your home, whether you are purchasing a home or refinancing, you need to know this info on solar leases.  Having my husband as a Mortgage Broker helps me to keep up-to-date on the mortgage business and what is happening. There are now new rules on Fannie Mae loans (normal, conventional loans) in regards to purchasing homes that have solar leases panels on their roof,  not owned by the owner. At this link, directly from the Fannie Mae website, highlighted in yellow, are the rules regarding purchasing a home with solar lease panels. In my opinion, if you are considering getting solar panels on your home, rather go with the purchase option as it will be so much easier for a buyer. We put solar panels on our roof last year and cannot believe the savings we are getting on our electricity bill, which is basically 0. We purchased and did not even consider the lease option. Appraisers are also now taking into account if a home has solar, so it will help to increase the value of your home. Imagine a new buyer buying a home with solar panels which are owned and therefore they will not be paying it off, they will not be paying for electricity (maybe a small amount a year)!! That is a HUGE savings.

https://www.fanniemae.com/content/guide/sel121614.pdf#page=320

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Lois Reisdorf

When you are buying or selling property in today’s real estate market, it’s important to have confidence in your real estate professional. My commitment as your local REALTOR is to provide you with the specialized real estate service you deserve.

In addition to being a listing agent, I am a trained Relocation Agent and have helped relocate many clients from around the world.

Contact Us

Lois Reisdorf CRS,ABR
Realtor
Windermere Homes & Estates

Office Address
14677 Via Bettona, St. 120
San Diego, CA 92127

Office Phone: 619-838-8292
Office Fax: 858-408-1966


Windermere Homes & Estates.
CalBRE#: 01257745