Does Freddie Mac Allow Solar Panels

Properties with solar panels.

Does freddie mac allow solar panels.

This is because the property won t be considered livable if your solar panels fail and there s no electricity. 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. 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. I properties with solar panels owned by the borrower if the borrower owns the solar panels on the property.

Effective for mortgages with settlement dates on and after march 1 2017. With regard to solar the important point to take away from fannie mae s guide is this. Solar panels are an eligible improvement for greenchoice mortgages. 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.

Solar panels also can t be the only source of electricity on the property. Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time. Freddie mac purchases mortgages secured by properties with solar panels.