“The Solar Industry Needs My Help”
I have had home improvement contractors referring clients to me on a regular basis. That is nothing new. Now one of my clients who are in the solar financing business has reached out for assistance.
Being a mortgage broker, we are fortunate to have lenders available to us that will do mortgages with credit scores under 640.
The truth is there are many reasons for lower credit scores and there are also many reasons where bad things happen to good people. It is always a mission of mine to assist these folks to be able to get a mortgage:
Hey there,
I have a couple clients that frequently have customers with some credit challenges and right now in solar financing its just not available for anyone under 640 FICO or other credit challenges.
My thought is that perhaps these customers are also in mortgages with higher rates, and they could work with you on FHA refinances where they could do solar/energy improvements rolled in.
If is OK, I want to start referring them to you.
“Who else do you know that needs my help?
Image courtesy of Pixomar/freedigitalphotos.net
Subscribe to my blog via Email:
Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Email: joe@righttracfg.com
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.
If anyone can help these people, it would be you Joe.....hope it's possible.
Of course you can help!
I find it interesting that solar financing has its own category now. A lot of people are jumping on solar and it's starting to be a wrinkle in home purchasing - does a new buyer really want to sign up to take over 18 years of payments?
what a wonderful opportunity for everyone - the homeowners will get lower rates AND solar, you will have more business, and the solar industry will expand! great!
Didn't realize that the solar industry now has its own classification...interesting!
Hi Joe. Sounds like a great source of new business for you as well as helping the environment.
Good morning Joe. Looks like a new avenue of lending possibilities is about to open for you! Enjoy your day!
It sounds like a new income stream for you and it sounds like you'll ask the right q's to help determine if it's right for them.
Good morning Joe Petrowsky ,
Sounds like a win win for new homeowners, the solar industry and your business, all are winners!
Help in mortgages is always a great word to hear from a lender, Joe...you set the stage well.
Good morning Joe,
If it is possible and works for you and the client go for it.
Make yourself an astonishing day.
Your creative thinking is just what these folks need Joe!
Good morning Joe. The breath of your network is incalculable. Well done.
Joe, there are many homeowners contemplating installing solar to help with utility bills.
All kinds of situations that can create lower scores...doesn't mean that they are bad people.
Thanks, Joe, for sharing some of the elements of your successful referral program.
Good morning, Joe -- opportunity continues to knock.
Joe,
You are no doubt focused on a abundance of opportunities...and you get them. Happy Tuesday, A
Of course Joe Petrowsky who else should he send them to?
Bill Roberts
Hi Joe - where there is a will I am sure that you will find a way. Hope to see you next week at Dagny's.
Joe it can also be tricky to do a loan on a home with solar panels later on. They need to make sure the financing of the solar panels does not prevent them from being able to refi later, or from a Buyer obtaining financing to purchase the house.
I see more opportunity for you to help people who cannot get help from others. I echo what George Souto has to say about the solar panels as well. I am seeing issues with resales of homes with solar panels in my area.
Like George Souto mentioned, lots of gray areas with solar contracts --- with one that is friendly for future residents and refinances, a great big YES to this idea. For the companies using solar panels to hold a home hostage....run!
Joe
You are a referral magnet. We have spoke to a number of homeowners that have a lien on there home for solar installations.
Good luck and success.
Lou Ludwig
Your referral network just keeps expanding. This is another excellent source for the future.
Smart idea to call you Joe, I am sure you will be able to help his clients.