As of February 29, 2024 Rocket Loans will pause offering new credit applications and Rocket Solar Loans will no longer be available in Alchemy.

All credit applications submitted before February 29, 2024 will be honored and fulfilled. All projects with Rocket loans already in the pipeline will be fulfilled.

LightReach, Goodleap, and Sunlight finance options are still available. For more on finance options, check out the Financial Products and Incentives help pages.

Rocket Loans is a lending platform for multiple products focused on smooth and seamless client transactions. Rocket Loans provides personal loan and solar loan products of Rocket and the technology for clients to get the money they need when they need it –all online without the pain of traditional personal lending.

See the Rocket Loans Sales Aid and FAQ document at the bottom of this page

Click here to link to Rocket Training

If customers need to provide additional information to clear stipulations, they will receive an email from Rocket with a link to the Rocket portal. Closing Documents will be blocked until the stipulations are cleared.

Rocket teams manually review stipulation documents. Review team's work:

Monday-Friday: 9:00 am-10:00 pm EST

Saturday: 10:00 am-7:00 pm EST

Sunday: Closed

Rocket reviews most submissions within an hour. Any submissions made outside business hours may take up to 48 hours to review.

(833) 202 – 4366 / [email protected]

What is a solar loan?

Solar loans are tailored to help homeowners afford the cost of installing solar panels without having to pay upfront. By spreading the repaying of the loan over a long term, as much as 25 years, the monthly payment tends to be lower (compared to a shorter-term loan), which allows you to pay it off in your own time – either across the entire life of the loan or within a shorter period if you make additional payments.

How exactly are my loan payments structured?

Your loan payments are structured to give you time to realize the benefit of the federal

residential solar tax credit if you are eligible to claim such credit. Your monthly payment

amount assumes you will make one or more optional prepayments equal to approximately

30% of your Total Loan Amount (the approximate value of the solar tax credit should you be

eligible to claim such credit) on or before the 18th month from the Loan Start Date. If you do

not make any prepayments on or before the 18th month from the Loan Start Date, or if your

prepayments are less than approximately 30% of your Total Loan Amount, your monthly

payments for the remainder of the Loan will be adjusted to a higher amount so that your loan is fully repaid by the end of your term.

How do I apply the value of my tax credit to my solar loan?

You can make voluntary prepayments by logging into your Rocket Loans dashboard and

initiating one-time ACH payment(s) from your bank account. You can also mail a check to the address listed in your loan agreement.

What happens if I don’t apply all of the value of my tax credit?

Your loan will re-amortize 18 months from your Loan Start Date, regardless of how much you

have paid in voluntary prepayments by that point. If you do not make any prepayments on or before the 18th month from the Loan Start Date, or if your prepayments are less than

approximately 30% of your Total Loan Amount, your monthly payments for the remainder of

the Loan will be adjusted to a higher amount so that your loan is fully repaid by the end of

your term.

When is my first payment due?

The first payment is due 60 days post-installation. If your solar system is not yet operational at that time, then a charge will be made on your behalf.

How do I make a payment on my solar loan?

If you enroll in autopay, your payment will automatically be deducted from your selected designated bank account

you set. If you pay by check, you can mail checks to the address.

Listed in your loan agreement. You can also make a one-time ACH payment by logging into

your Rocket Loans dashboard.

How do I enroll in autopay?

Clients will select their repayment method – either autopay or pay by check – during the loan closing process. Clients can also initiate a switch to autopay any time after loan closing by calling the Rocket Loans servicing team.

I want to sell my home right now; what do I do about my current solar loan?

Solar loans are secured by the solar system itself through a type of lien called a Uniform

Commercial Code filing, or UCC-1. To sell your property with a clean title, you must clear the UCC-1, which can be accomplished by paying off the solar loan (there are no penalties for early payoff). Once your loan is paid off, Rocket Loans will terminate the lien.

What are the overall benefits of rolling my solar loan into my mortgage payment?

There can be benefits to refinancing your mortgage, such that you can pay off your solar loan in the process; however, it all depends on your financial goals and interest rates on each loan. Interest rates on solar loans have typically been lower than mortgage rates, but this is not always the case. If you are looking for lower monthly payments overall, then rolling a shorter-term solar loan into a longer-term mortgage could be beneficial. Or, if you are looking to minimize the amount of overall interest you pay, then doing the opposite and rolling a longer-term solar loan into a shorter-term mortgage could result in paying off the debt sooner with less general interest paid at the price of higher monthly payments.