Frequently Asked Questions
Solar Loan Basics
- Do Mosaic loans use simple interest or compound interest?
- Why is the principal balance on my loan not decreasing?
- Why did the amount of monthly interest I owe increase?
- When does interest begin to accrue on my loan?
- When is my loan start date?
- When am I responsible for paying down my loan to its Choice Balance Target?
Payments
- How is my monthly payment split between the principal and interest?
- What is a prepayment and how do I schedule one?
- How do I access my online account?
- What happens if a borrower passes away before the loan is paid off?
- What is ACH?
- Can I use a bill payment service instead of ACH?
Refinancing
- Are there downsides to rolling my solar loan into my mortgage?
- Does rolling my solar loan into my mortgage impact my ability to claim the Federal Residential Solar Tax Credit?
- How much money can rolling my solar loan into my mortgage save me?
- How do I “roll” my solar loan into my mortgage?
- How can refinancing my home help save money on my solar loan?
- How do I lift the security filing on my system during the home sale process?
Home Sale
Home Batteries
- How does a home battery work?
- Why would I need a home battery?
- How much does a home battery cost?
- Will I still be tied to the grid if I get a home battery?
- Are there any tax credits I can use to purchase a home battery?
- Can I get a home battery before I get solar?