I'm selling my home. Do I need to pay off my Mosaic loan?

While it is possible to transfer your Mosaic loan to the buyer, for the convenience of the buyer and seller, we strongly encourage paying off of the remainder of your loan at the time of sale.

Homes outfitted with solar systems are typically sold for higher values than comparable homes without 1. Mosaic does not charge any prepayment fee, so it’s easy to use the additional income generated from the higher sale price of your home to pay off the remainder of your loan. Take a look at our home sale example here to learn more about how home sale and prepayment go together.

Should you decide to transfer your Mosaic loan, the purchaser of your home must have credit qualifications that are sufficient to qualify for the original terms of your loan. If the future owner cannot pass the credit criteria required for the original loan, then you must pay off your loan.

 

 

1 Source:  https://emp.lbl.gov/sites/all/files/lbnl-6484e.pdf

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