Does Freddie Mac Allow Solar Panels

Solar panels also can t be the only source of electricity on the property.

Does freddie mac allow solar panels. Effective for mortgages with settlement dates on and after march 1 2017. I properties with solar panels owned by the borrower if the borrower owns the solar panels on the property. Freddie mac purchases mortgages secured by properties with solar panels. 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.

Properties with solar panels. 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. With regard to solar the important point to take away from fannie mae s guide is this. 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.

This is because the property won t be considered livable if your solar panels fail and there s no electricity. 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. Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time.