Lending Information

Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest source of home mortgage funds. Fannie Mae is willing to buy, bundle, and sell certain energy efficient as well as traditional mortgages on the secondary market.

Eligible borrowers:
For energy efficiency improvements: eligible borrowers and certain utility customers

Eligible systems:
Energy efficiency upgrades; solar water and space heating systems; PV

Loan Amount
Typically up to $15,500

Terms:
Up to 10 Years

Collateral:
Unsecured

For more Info:
1(800) 732-6643
www.fanniemae.com

Information Provided By:
U.S. Department of Energy

The Federal Home Loan Mortgage Corporation is a secondary mortgage lender that purchases, mortgages from lenders, packages the securities, and sells the securities to investors.

Eligible borrowers:
Natural person (not a business); there are some restrictions on resident aliens

Eligible systems:
PV (including grid-independent systems) and solar thermal, to 10% above base loan with an energy-efficient mortgage

Loan Amount
Up to $227,150

Terms:
15, 20, and 30 years

Interest Rates:
Fixed at market rates/variable at prime rate +2%

Collateral:
First mortgage to 95% loan-to-value

For more Info:
1(800) FREDDIE
www.freddiemac.com

The U.S. Department of Agriculture (USDA) Rural Development Mission Area is committed to helping improve the economy and the quality of life in all of rural America.

Eligible borrowers:
Rural development borrowers, RUS utilities

Eligible systems:
Solar thermal, PV

Loan Amount
$300,000 (avg.)

Terms:
10 years

Interest Rates:
0%

Collateral:
As negotiated with the RUS borrower

For more Info:
1(202) 720-4323
www.usda.gov

Federal Buildings-The Federal government spends more than $3 billion a year on its electric bill for more than 500,000 Federal facilities. Therefore, the President has directed Federal agencies to reduce their energy use by 30% from 1985 levels by the year 2005.

Eligible borrowers:
Federal Agencies; utilities; energy service companies; state governments

Eligible systems:
Solar thermal, PV, energy efficiency measures

Amounts:
Varies

Terms:
Up to 25 years using ESPCs

Interest Rates:
0%

For more Info:
1(800) 363-3732
www.doe.gov
www.eren.doe.gov/femp/

The broad mission of HUD is "to help create communities of opportunity." HUD's principal community building goals are to develop affordable housing and increase ownership opportunities for low- and moderate-income families.

Eligible borrowers:
Anyone qualifying for certain FHA, EEM and Title I Loans

Eligible systems:
Solar Thermal space and water heating; PV

Loan Amount:
HUD area limits

Terms:
15 and 30 years

Collateral:
To 120% loan-to-value, depending on loan type

Interest rate:
Fixed or variable

For more Info:

Phoenix: 602-379-4461

Tucson: 520-670-6237

U.S. Department of Veterans Affairs (VA) guarantees mortgage loans for veterans and service persons. The guaranty allows veterans to obtain home loans with favorable loan terms, usually without a down payment. A lender, such as a mortgage company, savings and loan, or bank, makes these loans.

Eligible borrowers:
Veterans and servicepersons

Eligible systems:
Solar thermal, PV, energy-efficiency measures

Loan Amount
Typically, up to $203,000

Terms:
15 to 30 years

Interest Rates:
Fixed

Collateral:
First mortgage to 100% loan-to-value plus cost

For more Info:
1(800) 848-4909
www.va.gov

EPA's Energy Star Financing Program works with lenders to provide special financing for buyers of Energy Star rated homes. The Energy Star Homes Program encourages builders to construct homes that are 30% more energy efficient than homes built to the model energy code.

Eligible borrowers:
People and businesses

Eligible systems:
Solar thermal, PV (grid-tied, with 10-year payback limit); measures increasing energy efficiency by 30% over code

Loan Amount
No limit

Interest Rates:
Market rates with discounts available on some Energy Star home loans

Collateral:
First mortgage to 120%

For more Info:
(888) STAR-YES
www.epa.gov

SBA provides business loans to eligible and creditworthy small businesses by guaranteeing loans made by participating lenders. The guaranty transfers the risk of borrower nonpayment, up to the amount of the guaranty, from the tender to the SBA. Therefore, businesses applying for an SBA loan are actually applying for a commercial loan having an SBA guaranty.

Eligible borrowers:
Small businesses

Eligible systems:
PV (including grid-independent) and solar thermal systems, plus many other renewable energy systems and efficiency measures must have a positive effect on business cash flow

Loan Amount:
Up to $750,000 guaranty for 7(a) loan

Guaranty:
Can be 80% up to $100,000; 75% if greater than $100,000

For more Info:
(800) 8-ASK-SBA
www.sba.gov