I'm interested in solar panels for my home but unsure about upfront costs. What are the eligibility criteria for a Dividend Finance Solar Loan?

In order to qualify for a Dividend Finance Solar Loan, there are several basic and financial criteria that you need to meet:

• First and foremost, you must be the primary borrower and owner of the property where the solar panels will be installed. Dividend offers financing options for trusts, LLCs, and specific types of homes, but ownership plays a crucial role in the approval process.

• Additionally, the location of your property is an important factor to consider. Dividend operates in a select few states, which you can verify when going through the pre-qualification process. Regrettably, the website does not provide a comprehensive list of the states they cater to.

• There are specific criteria that must be met to meet the financial requirements. For eligibility, a minimum household income of $40,000 annually is required by Dividend. Although they do not provide specific details about the required credit score, loans are generally approved for borrowers with scores above 660. In addition, lenders often take your debt-to-income ratio (DTI) into account when reviewing your application. Having a lower DTI can increase your likelihood of being approved.

Important Note: The accuracy of this information might be subject to change depending on updates and revisions implemented by the service provider.
To assess your eligibility for a Dividend Solar Loan, simply start the pre-qualification process on their website for a personalized loan estimate without impacting your credit score.