Does Freddie Mac Allow Solar Panels

Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time.

Does freddie mac allow 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. 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.

I properties with solar panels owned by the borrower if the borrower owns the solar panels on the property. Solar panels also can t be the only source of electricity on the property. Properties with solar panels freddie mac purchases mortgages secured by properties with solar panels if the mortgages meet the following property eligibility requirements. This is because the property won t be considered livable if your solar panels fail and there s no electricity.

Effective for mortgages with settlement dates on and after march 1 2017. Solar panels are an eligible improvement for greenchoice mortgages. Freddie mac purchases mortgages secured by properties with solar panels.