Demand for energy has been increasing exponentially as our population and infrastructure continues to grow, this has had a direct affect on the cost of electricity. The cost of electricity to homeowners increases every year. Those who are conscious of the finite resources we have are looking for alternative renewable sources of energy, sources like solar. Solar Technology had come a long way, it was once too expensive to convert your home, fortunately that is not the case any longer. Today it is easier than ever to put in a solar system.
Converting to solar is still a big proposition and paying up front and out of pocket can be hard. However, today mortgage lenders are able to help you finance the conversion. There are some essential things to look for in finding the right mortgage broker and mortgage to finance your solar powered home.
Finding a Broker
Once it has been decided that you will need a home refinance to convert to solar power for your home you need to find a broker who can help you. Like any mortgage or home refinance you want to get the best rate and payment plan that fits your needs and budget.
Choosing the Mortgage Company
Always do some due diligence and verify the legitimacy of the company that you are dealing with, take a good look at it’s reputation and history. Converting to solar is expensive and you want your money protected, you don’t want to fall into a trap with a disreputable company with shady policies. There are lots of mortgage companies that will push on you a product that suits them and not you, be wary of this.
Compare the Rate
Interest rates are always a big deciding factor with any mortgage product so let our Capital Mortgages Broker shop around for you. They can verify lending rates from more than one lender and negotiate on your behalf the best rate and repayment terms that work with your budget.
This is a big project and like any big project it is in your best interest to do your research and cover all your bases, you don’t want any regrets later on. Look at all the factors you can when choosing financing for a solar conversion and verify all rates and repayment plans before signing on. At Capital Mortgages we have helped hundreds of people get their dream home with the best choice of plans and rates. Give us a call and let us know how we can help you.