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Sunlight Financial Guide

Andrew Catapano
  • Updated

888-507-0891 / support@sunlightfinancial.com

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PPW Maximums
PV Only $5.00/W
Approved Add Ons

Items needed to make home solar ready:

  • Reroof
  • tree removal
  • electrical of structural upgrades
Additional Items

Basic, low cost items are also acceptable:

  • Basic EE (Bulbs, SmartTherm)
  • Palmetto Protect Subscriptions

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Row Basic Qualifications
A Minimum FICO 600
B LTV Requirement None
C Credit Validity 180 Days from Credit Run
D Approval Amounts 70K or 100K (FICO Dependent)
E Max DTI 55% (No DTI with 700+ FICO)
F Title Requirements Primary must be on title
G Loan Reamortization Single re-am at month 18

 

Notes:

  1. Sunlight will credit waterfall different capital providers for clients who are "on the line" of credit approval-- in 1-3 % of cases in Florida market, homeowners may be approved, but only for limited loan products
  2. A small percentage of Sunlight deals may require a credit union membership form as part of the loan doc process, depending on what capital fund the homeowner was credit approved for. This helps to increase Sunlight approval ratings.
  3. Single reamortization at month 18-- homeowners must apply at least their applicable ITC down on the loan by this time to maintain their initial 18 month payment amount.

Common Stipulations
Row Stip Description Resolution
A Title Requirements Primary must be on title Provide recorded deed/title copy via secure email upload
B ACH ACH/Banking Routing info was not provided Provided voided check photo via secure email upload--or--call SL directly
C Retirement Customer listed "Retired" on credit app Must provide most recent employer information.
D Income Verification Must verify income stated on credit application Provide W2 or Recent paystub via secure email upload
E Courtesy Call - Elderly Sunlight is requesting a validation call, client is elderly Client must call SL directly to confirm loan details

 

Frequent Pending Decision Reasons:

  1. Security freeze or protection on credit (SL Traditionally Checks Experian)
  2. Mistype on SSN or DOB on credit app

Payment Details

  1. First payment approximately 60 days after installation
  2. No Prepayment penalties
  3. Reamortization at month 18: if customer does not pay down applicable ITC tax credit, monthly payment increases
  4. Instant approval for $70K, $100K max with 700+ FICO

Monday - Friday 9AM-9PM EST

Saturday 10AM-8PM

Sunday 11AM- 8PM

Exclusive support line : 888-507-0891

888-850-3359

support@sunlightfinancial.com

Sunlight Billing Department: 855-326-9785 (for homeowners). Homeowner payment  portal: http://billing.accountservicing.com/

 

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