Does Freddie Mac Allow Solar Panels

Effective for mortgages with settlement dates on and after march 1 2017.

Does freddie mac allow solar panels.

Freddie mac purchases mortgages secured by properties with solar panels. Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time. I properties with solar panels owned by the borrower if the borrower owns the solar panels on the property. Homeowner interest in solar panel systems has grown in the past decade and we have begun to receive questions from sellers about the eligibility of mortgages secured by properties with solar panels.

This is because the property won t be considered livable if your solar panels fail and there s no electricity. Properties with solar panels freddie mac purchases mortgages secured by properties with solar panels if the mortgages meet the following property eligibility requirements. If you own the solar panels on the roof of your home you only need to meet the standard eligibility requirements in order for fannie mae to purchase or securitize a mortgage on your property the same requirements that would apply even if you had no. Solar panels are an eligible improvement for greenchoice mortgages.

Through our greenchoice mortgage offering we are committed to facilitate the financing of energy efficient home improvements and energy efficient homes helping more families attain and. Solar panels also can t be the only source of electricity on the property. All the major mortgage investors including fannie mae freddie mac the fha and the va require the property to have an alternate source of electricity.