Reamortization is a process that establishes an updated schedule of monthly payments for the remainder of your loan term.
When can the customer reamortize? Any time.
There is no minimum payment required to request reamortization.
Many solar loans available today limit your reamortization options to specific dates or milestones in the loan term. Our solar loan offers far more flexibility, allowing customers to revise your monthly payment or pay off your loan early any time you like without any fees or penalties.
If a customer finds themselves with additional funds that they want to put towards their loan, they can use the funds to either 1. shorten the loan term (change the natural end date of your loan), or 2. keep the loan term the same but reduce the monthly payment amount.
Remember that the customer can keep their tax credit and still keep their contractual monthly payment consistent.