Freddie Mac Solar Panels

Properties with solar panels.

Freddie mac solar panels. 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. Starting in march 2017 freddie mac mortgage guidelines will be kinder to homes with solar panels whether owned by the borrower or leased from a third party. Engaging a skilled appraiser that understands solar photovoltaics and how to value them is a smart move before the purchase. Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time.

Effective for mortgages with settlement dates on and after march 1 2017. The skilled appraiser can assist the homeowner in understanding the size of system they need to produce the energy they use. Effective for mortgages with freddie mac funding or settlement dates on and after january 1 2020. To learn more start with our requirements for properties with solar panels in guide section 5601 2.

We are also updating guide section 5601 12 to expand our collateral valuation guidance for properties with solar panels energy efficiency improvements and or water efficiency improvements. Solar panels are an eligible improvement for greenchoice mortgages. Solar panels get special treatment. Its guidelines are being updated to allow underwriters to exclude solar panel lease payments from applicants debt to income ratios.

Properties with solar panels freddie mac purchases mortgages secured by properties with solar panels if the mortgages meet the following property eligibility requirements. Solar pv systems provide financial benefits and are financially feasible in some areas.