OAKLAND, California, 20 october 2020 / PRNewswire / – Mosaic, a leading provider of financing solutions for solar and energy-efficient residential home improvement projects in the United States, has announced two new competitively priced solar loan products: A Loan 0.99% over 20 years and a 1.99% loan on April 25. one year loan. The new products allow Mosaic’s solar partners to offer the lowest prices on the market at a time when consumers are both more cost-conscious and more aware of the benefits of buying rather than leasing their system. solar home and their batteries.
“We can offer homeowners and installers market-leading loan products as the quality of our loan program continues to be rewarded in the capital markets with a lower cost of financing,” said Billy Parish, founder and CEO of Mosaic. “We are delighted to pass this lower cost of funds on to our customers. “
“We will provide homeowners with the most affordable monthly payments in the world,” said Erin talbot, Director of Mosaic Loans. “This new price, as low as 0.99%, brings the cost of the average solar project down to less than $ 100 per month. This is another step towards our vision of 100% clean energy for all, and we encourage homeowners who are debating solar or battery power to take advantage of our new PowerSwitch CHOICE loan price. “
Renewable energy assets are seen as attractive to investors from Wall Street to pension funds. However, Mosaic securitizations are attractively priced due to the high quality of the company’s underlying residential solar loan portfolio and its proven track record. Mosaic recently completed its eighth asset-backed securitization to date, and the $ 222 million the offer was oversubscribed several times and placed with more than 20 unique investors.
This new homeowner pricing comes just weeks after Mosaic announced the PowerSwitch ZERO loan program, the first loan of its kind offered to homeowners to convert to clean energy with no monthly payments for 12 months. All PowerSwitch ZERO loans are granted by WebBank, FDIC member, Equal Housing Lender.
Mosaic makes financing solar energy, energy storage systems and other home improvements accessible and affordable for homeowners by providing the easiest borrowing experience in the industry. Clients are referred by approved solar installers and home improvement contractors, and can be instantly pre-approved for no down payment loans with fixed interest rates and multiple term options. For our network of hundreds of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 100,000 households switch to solar with its financing products. For more information visit www.joinmosaic.com.