125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Solar panel home equity loans

Alternatives FCU offers two affordably priced solar loan products.
  • 15 year adjustable rate 
  • 10 year fixed rate 
Interest only payments are required for the first 18 months. Ample time is allowed for rebates and tax incentives to be applied to the loan balance. After 18 months, principal and interest payments are calculated based on the outstanding balance and remaining term.

Up to 90% of the current appraised value of your home can be borrowed, minus existing liens. No application or closing costs are charged, providing the loan remains open for at least 36 months. 

Requirements for both loans
  • Funds must be used for purchase and installation of solar panels to your primary residence. 
  • A contract for improvements is required.
Rates
Please visit our rates page. The 15 year solar loan correlates with the 80% or 90% Home Equity Line of Credit, and the 10 year solar loan rate is the EnergyWise Home Equity loan.

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eStatements Prior to Dec. 2012 »

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Joe Nolan, Home Green Home

My family's credit union has been Alternatives since '96; We liked the mission, and who could resist banking in a converted house? In 2005 I started thinking about a retail start-up called "Home Green Home" that would sell healthy and eco-conscious home furnishings and renovation supplies. The Business CENTS class helped me to understand and develop the elements of a business plan, and set me on the path to taking the big leap.

At every stage, I've felt well supported by Alternatives' friendly staff. From one-on-one consultation to business banking and credit needs, I've received quick, helpful service at Alternatives. We always look to partner with organizations that share our values, and Alternatives fits the bill.


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