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Message: [QUOTE="UCDaveD, post: 3980210, member: 536"] Did anyone explore paying for their Solar panels through a home equity loan? I’m running into an annoying issue with SUNation. My original quote was for a loan through NYSERDA (NY thing) at 3.49% for 15 years. Would’ve resulted in ~$100/mo or $18,000 total payments (after reinvesting tax incentives) Approval for the loan comes back at 6.99% and I’m like uhhh what? Would’ve resulted in a total loan cost of ~$22,600. Well apparently this financing program is designed for lower/lower-middle class applicants and if you make over a certain percentage of your area’s median income, you actually get a higher rate. Annoying that this wasn’t brought up to me ahead of time by my salesperson, but whatever, I’m not accepting that loan. The guy is apologetic and says he’s going to look at other financing options. Comes back to me with a 20 year loan at 1.99%. I do the math and the total payments are a little over $23,000, so basically a worse option than the ridiculous 6.99% loan. I’ve gone back to the guy and was like dude, what are you doing here? He says he’ll talk to his managers tomorrow and see what we can do. I basically told him unless the financing program gets me around the original $18,000 total loan amount, the deal is likely dead. But then I thought about using home equity to pay for the system and wondered if anyone went that route and the pros/cons. [/QUOTE]