Does Freddie Mac Allow Solar Panels

Properties with solar panels.

Does freddie mac allow solar panels.

With regard to solar the important point to take away from fannie mae s guide is this. Solar panels also can t be the only source of electricity on the property. This is because the property won t be considered livable if your solar panels fail and there s no electricity. Solar panels are an eligible improvement for greenchoice mortgages.

Properties with solar panels freddie mac purchases mortgages secured by properties with solar panels if the mortgages meet the following property eligibility requirements. 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.

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. Effective for mortgages with settlement dates on and after march 1 2017. 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.