Average Savings
Traditional Mortgage vs. Lowtility
Same size house with a 660 credit score.
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Lowtility Mortgage
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Traditional Mortgage
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Solar
$350k + 20k (solar)
$350k
Sale Price
5% = $17,500
5% = $17,500
Down Payment
4.25% (4.482 apr)
3.75% (4.265 apr)
Rate
rates subject to change and can vary by customer, ltv, dti, Credit
$1,657
$1,636
Mortgage (PI) Payment
$249
$195
Mortgage Insurance
$25/mo.
$200/mo.
Power Bill
$2,031
$1,931
(saves customers $86/mo.
from month one)
Total Monthly Expense
Mortgage Payment (PI) + Utility Bill
$0
$7,600 Fed: $6,000 + Utah: $1600
Tax Credit
Additional Benefits of Lowtility:
- Customer owns solar. No extra liens or payments.
- Including solar financing in the mortgage essentially means that the power bill payment is now helping pay down the mortgage. How? When solar is included in the mortgage, the interest and payments go to the mortgage instead of the power company.
- Customer owns solar. No extra liens or payments.
- Including solar financing in the mortgage essentially means that the power bill payment is now helping pay down the mortgage. How? When solar is included in the mortgage, the interest and payments go to the mortgage instead of the power company.
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