Solar loan
A fixed-rate loan for home solar improvements for credit-union members living in Minnesota or Wisconsin.
Denne finansieringsmulighed er i øjeblikket beskrevet på engelsk.
Borrow to buy qualified solar improvements for your home, then repay the loan through monthly payments. The interest rate stays fixed during your loan.
Loans can be up to $150,000. You may qualify to borrow up to 100% of the value of the property used as mortgage security; this is a loan-to-value limit, rather than a percentage grant toward the solar installation.
Your quoted rate can depend on the loan amount, your credit, the loan-to-value ratio, property type and occupancy. Terms and rates can change before your loan is agreed. The payment calculator gives an estimate and excludes applicable taxes and insurance premiums, so your actual payment obligation may be higher.
Eligibility
- You must live in Minnesota or Wisconsin. Any property used as mortgage security must be in one of those states. Membership and loan approval are required.
- The funds must buy qualified solar improvements for your home.
- You can qualify for membership by living, working, worshipping or attending school in Aitkin, Anoka, Beltrami, Carlton, Cass, Chisago, Cook, Crow Wing, Isanti, Itasca, Kanabec, Koochiching, Lake, Mille Lacs, Pine, Sherburne, Stearns, St. Louis, Washington or Wright counties in Minnesota, or Douglas County in Wisconsin. Owning a business or other legal entity in those counties is another route.
- Other membership routes apply if you or a family member are a past or present employee of the credit union, or if you are a member’s spouse or a blood or adoptive relative of a member or their spouse.
How to apply
- Status
- Løbende ansøgning
- Vilkår for ansøgningsrunden
- Membership and loan approval required; Minnesota and Wisconsin residents only.
Apply by calling Members Cooperative Credit Union on 218-625-8580, or in person. The lender also offers online and Video Banking applications.
The lender tells you whether you are approved or pre-qualified. Its next step is to use the loan funds to purchase qualified solar improvements for your home.