Freddie Mac Leased Solar Panels

Freddie mac purchases mortgages secured by properties with solar panels.

Freddie mac leased solar panels.

If there is a lease for the panels all pertinent documentation must be reviewed to make sure these is nothing that can impair freddie mac s first lien position per 22 3 of the guide. Solar panels are an eligible improvement for greenchoice mortgages. Freddie mac believes that reducing home utility costs places families in a better financial situation and helps preserve home affordability over time. If the solar panels are leased from or owned by a third party under a power purchase agreement or other similar arrangement the following requirements apply whether to the original agreement or as subsequently amended.

Solar panels properties with leased or borrower owned solar panels are eligible as long as all fhlmc requirements are met. Establish property eligibility requirements for mortgages secured by properties with solar panels owned by the borrower. Its guidelines are being updated to allow underwriters to exclude solar panel lease payments from applicants debt to income ratios. The new user friendly seller servicer guide will make it significantly easier for you and your team to find understand and share critical information.

Establish property eligibility requirements for mortgages secured by properties with solar panels that are owned by a third party and subject to a lease agreement power purchase agreement ppa or similar type of agreement. The solar panels may not be included in the appraised value of the property.