We'll help you build a brighter future.
Switching to solar with the help of Cape Cod 5 is a great way to offset energy costs, reduce the environmental impact of your home and provide a host of other benefits, such as supporting local businesses and contributing to energy independence.
Cape Cod 5 offers solar financing with flexible terms and competitive rates to qualifying homeowners.
Secured Solar Loan
The Details:
Loan will be secured by a mortgage on the Borrower’s primary or second home within the Bank’s lending market area
System must be installed on the property securing the loan
Subject property must be a 1-4 family residential property
Condos, cooperatives, titles held in LLCs or Irrevocable Trusts, and rental properties do not qualify
Borrower must provide a copy of their accepted contract/agreement for the installation of a roof mounted or ground solar energy system with a licensed installer at the time of application
Funds will be fully disbursed in the form of two checks once any right of rescission has elapsed. Each check issued will be for 50% of the loan amount, one check will be payable to the Borrower(s) and the Solar Installer and the second check will be payable to the Borrower(s) directly.
Please visit our Loan Rates page for loan amounts and terms.
Loan Rates
Interested in a Secured Solar Loan? Apply online now.
Unsecured Solar Loan
The Details:
Property must be Primary or Secondary residence
System must be installed on the property securing the loan
Credit decisions subject to the Bank's current consumer loan underwriting guidelines, including documented income verification
Approved requests must close within 30 days or less of the application date
All closings will be in person at a Cape Cod 5 Banking Center
Auto-pay discount of 0.25% from a Cape Cod 5 deposit account (Auto-pay must be established at closing)
Unsecured
A check for 33% of the loan balance will be issued payable to the Borrower(s) and the Solar Installer on the day the loan closes. A second check for 33% of the loan balance will be issued to the Borrower(s) and the Solar Installer after the installation is complete (documentation showing panel installation must be provided to the Bank prior to disbursement). The final 34% of the loan proceeds will be issued payable to the Borrower(s) and the Solar Installer when the system is operating (interconnect form must be provided to the Bank prior to disbursement).
Please visit our Loan Rates page for loan amounts and terms.
Interested in an Unsecured Solar Loan? Apply online now.
Cape Cod 5 recommends having a Mass Save® Home Energy Assessment performed to maximize the energy efficiency of your home
