Overcoming Credit Decline for Solar Energy: A Homeowner’s Guide for San Antonio
Are you dreaming of a beautiful rooftop solar installation but have been declined for a solar loan due to credit issues? You are not alone. Many homeowners in San Antonio face similar challenges when it comes to financing their solar projects. But do not let a credit decline stop you from going solar.
In this article, we will guide you through the steps you can take to overcome credit decline and secure the financing you need to power your home with renewable energy.
The Soft Check Process with Major Three Lenders
The first thing to know is that the major three solar lenders that solar installers use only perform a soft credit check, which means it will not affect your credit score. However, if you were declined by Sunlight or Good-Leap, there is an alternative lender, Mosaic, that is more lenient on lower credit scores with just debt issues.
The Authorized User Option
If your credit score is just shy of Mosaic’s required 640/650, and your main issue is high debt, you can consider adding yourself as an authorized user on a friend or family member’s credit card. This will add their entire credit history and available credit to your credit file in approximately 30 days (about 4 and a half weeks). If you do not have anyone willing to do this, you can also buy authorized user trade lines from TradeLinesSupply.com.
Removing Negative Information from Your Credit Report
If your credit issues are more serious than just high debt, you need to get negative information off your credit report. This is where Credit Glory comes in. They offer services that help you dispute negative information on your credit report, including writing dispute letters for inquiries.
Do not let a credit decline stop you from going solar. With these steps, you can overcome credit decline and secure the financing you need to power your home with renewable energy. Whether it is through alternative lenders, adding yourself as an authorized user, or removing negative information from your credit report, there are options available to help you make your dream of a beautiful rooftop solar installation a reality. So, do not give up on your solar journey just yet.
Take these steps and in a couple of months, you will be able to qualify for a solar loan and enjoy the benefits a solar installation of clean, renewable energy.