Tag: Solar Panels

Solar Panel Lease Payments & DTI Calculation

Question: When do I need to count a solar panel lease payment for an FHA loan? REVISED – MC Chart – Solar Panels – All Agency Guidance Answer: FHA would not require a lease payment for a leased energy system to be included in the borrower’s DTI. But unfortunately, that information is not in the […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-45 – Dated December 2, 2020

Written by: Lloyd Rutherford, Staff Writer This update includes many more updates than just the loan limits.  Big changes for Solar Panels, Power of Attorney requirements, Home Possible LTVs, Sweat Equity and Cash-On-Hand.  Read through this excellent overview from our expert regarding what you need to know! UPDATED MC Chart – Solar Panels – All […]

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Fannie Mae Appraiser Update – Dated September 2020 – New MTP™ Solar Panels – When Do They Add Value to Your Property?

Written by: Lloyd Rutherford, Staff Writer Your appraisal can be your best friend or your worst nightmare.  This is why you need to keep up on the appraisal issues facing our industry.  Read this latest update to catch up on appraisal “must-knows”. Rule Synopsis: Fannie Mae publishes a quarterly Appraiser Update in a newsletter format […]

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Fannie Mae SEL–2020-04 – Dated August 5, 2020 and DU Version 10.3 August Update – Dated July 29, 2020 – Updated Solar Panels Chart – All Agencies

Written by: Lloyd Rutherford, Staff Writer Finally, we are getting guideline updates that do not center on COVID!  In this article stay up to date on Fannie Mae’s latest policy updates and changes. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that […]

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VA – Solar Panel Requirements for Qualifying

Question: What amount do you use to cover a solar panel lease agreement when the energy generated is a net credit to the homeowner? Our underwriter is stating that the borrower must qualify for the payment on the lease even though the lease payment is satisfied by the energy generated and the only thing billed […]

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