Palmetto Truth in Lending Act Disclosures

Loans will be provided by a third-party lender. No down payment is required. Here are examples for representative loans.

Loan Amount$15,548$24,016$29,996$35,976
APR5.99%5.99%5.99%5.99%
Number of Monthly Loan Payments300300300300
Monthly Loan Payment: Months 1-17$77$119$148$178
FITC Applied
Loan Payment: Month 18* (FITC plus regular monthly payment)$4,144$6,338$7,922$9,506
Monthly Loan Payment: Months 19-300$77$119$148$178
FITC Not Applied
Loan Payment: Month 18$77$119$146$178
Monthly Loan Payment: Months 19-300$104$159$198$238

A fully refundable deposit of $99, paid to Palmetto, is required to place the order. The actual loan amount, APR, number of monthly payments, and amount of monthly loan payments will depend upon the specific loan program that the borrower selects and qualifies for and the amount applied to reduce the principal in or prior to month 18. Borrowers with weaker credit scores and histories will not qualify for all loan programs and, if they do qualify, will be offered less favorable credit terms. Additional terms will apply.

*Calculations labeled “FITC Applied” assume the borrower is eligible for the Federal Investment Tax Credit (FITC) at the current rate of 26% and applies the full value of the FITC credit toward their solar loan in or before month 18. The month 18 loan payment reflects the sum of the regular monthly payment plus the balloon payment amount, which is equal to the estimated FITC credit. If the borrower is eligible for the FITC and applies the full value of their savings toward their solar loan within the first 18 months, their monthly payment will remain fixed for the life of the loan. If the borrower chooses not to apply their savings toward their solar loan or otherwise pay any balloon payment on or prior to month 18, their monthly payment will increase in month 19 to reflect the full principal of the loan. Any additional amounts paid prior to or concurrent with the month 18 payment will be applied to reduce the principal amount of the loan.