A Solar Assumption, or Solar Loan Assumption, is a type of financing arrangement whereby a new borrower (the “Buyer”) takes over the existing solar loan of another borrower (the “Seller”). The first step in arranging for the transfer of a Technology Credit Union (“Tech CU”) solar loan to the Buyer of a home is for the Buyer to apply with Tech CU by filling out the Application for Solar Assumption. This is done by calling 1-877-988-0471.
Secondly, both the Buyer and the Seller must complete this Form of Intent and refer to the checklist that follows to make sure both the Buyer and the Seller have everything needed for the transfer.
For frequently asked questions, please see our Tech CU Solar Assumption FAQs.