Many people did not realize that for certain type of the house, installing a solar system can make you “mortgage free” or at least low you monthly mortgage payment . You don’t have to work hard till your near retirement. below is the example to show how it works: House value 350k or more, the south faced roof area 900sf or more. Mortgage balance 200k , term 4% 5y fix,35y amortization monthly pay 823.66$/M Home equity 70k 3.5% 204$/M for interest. use your home equity to install 10kw solar system . 10kw Solar PV average monthly income 1000/M Payment monthly 823.66+204-1000=27.66$ or re-mortgage to increase the mortgage balance to 270k to finance 70k of the capital. the new mortgage monthly payment term is 4% 5y fix, 35y amortization, monthly payment will be 1190$/M. 10kw Solar PV average monthly income 1000/M Payment monthly 1190-1000=190$ you don’t have to invest extra money, your mortgage payment goes down to less than 30$/M. Of course, if your mortgage balance is less than 200k, and your house meet the above condition, you definitely can get mortgage payment free or even positive cash flow. 更多内容请点击我的博客 |