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VSECU Financing for Solaflect Customers

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VSECU is committed to helping members make smart investments in their homes and communities. We’ve teamed up with Solaflect to offer special discounted rates to maximize your solar investment savings.

 

 

ITC Loan

This loan is for purchases eligible for the 26% Federal Investment Tax Credit. Within the first 15 months, you may apply your tax credit to the principal of your VGreen ITC Loan, or you may use the credit to pay down higher-interest debt and let your ITC Loan payments re-amortize to a higher monthly payment at the same fixed rate.

TERM: 84 months (7 years)
APR AS LOW AS: 3.99%
MAXIMUM LOAN AMOUNT: $60,000

TERM: 144 months (12 years)
APR AS LOW AS: 3.99%
MAXIMUM LOAN AMOUNT: $60,000

You can apply your tax credits and other incentives to the loan to reduce your loan principal. This special feature further reduces your costs and maximizes your energy savings.

APR = annual percentage rate. APR is effective as of 1/1/2020 and reflects the current minimum APR offered. Payment amount subject to change after initial 15-months based on tax credits or other credits applied to principal or re-amortization of the outstanding balance. As an example, a $20,000 loan at 3.99% APR would result in 15 initial monthly payments of $130.15. If the entire 26% tax credit is applied to the principal during the first 15 months, the monthly payment would remain at $130.15 for the remaining term of the loan. If the principal is not paid down with a tax credit or other payment, the outstanding loan balance at the end of the 15-month period will re-amortize to $181.95 per month for the remaining 129 months. Other rates and terms may be available. The APR may be adjusted based on individual credit standing and term. Minimum loan amount is $5,000. Example payments are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly. Ask about other terms. Rates and APRs listed are only available to qualified customers with a minimum credit score of 680. Other rates and terms available based on individual credit standing and term.

How to apply

If you need additional assistance, you can contact a VSECU lending consultant at [email protected] or 1-802-371-5146 for more information.

Do you live and work outside of Vermont?

You can become eligible for the program by joining Northeast Sustainable Energy Association (NESEA).

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Get started

Applying is an easy two-step process that includes contacting your Solaflect advisor and submitting your loan application. Members can apply in Digital Banking for a more streamlined process.

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