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Eligible borrowers:
Natural person (not a business); there are some restrictions on resident aliens
Eligible systems:
PV (including grid-independent systems) and solar thermal, to 10% above base loan with an energy-efficient mortgage
Loan Amount
Up to $227,150
Terms:
15, 20, and 30 years
Interest Rates:
Fixed at market rates/variable at prime rate +2%
Collateral:
First mortgage to 95% loan-to-value
For more Info:
1(800) FREDDIE
www.freddiemac.com
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Federal Home Loan Mortgage Corporation
The Federal Home Loan Mortgage Corporation (FHLMC), also known as "Freddie Mac," is a secondary mortgage lender that purchases mortgages from lenders, packages the mortgages as securities, and sells the securities (guaranteed by Freddie Mac) to investors such as insurance companies and pension funds. Freddie Mac, a congressionally chartered institution, is privately owned by its shareholders and is accountable to them as well as to an 18-member board of directors.
Mortgage lenders use the proceeds from selling loans to Freddie Mac to fund new mortgages, constantly replenishing the pool of funds available for loans to homebuyers and apartment owners. Just as stock and bond markets have put investor capital to work for corporations, the secondary mortgage market puts private investor capital to work for homebuyer and apartment owners, providing a continuous flow of affordable funds for home financing.
Freddie Mac's programs are similar to Fannie Mae's. Freddie Mac encourages energy efficiency by providing specific criteria for energy efficient mortgages (EEMs) that Freddie Mac is willing to buy on the secondary mortgage market.
Return to: Lending Information
Information Provided by the U.S. Department of Energy
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