Seller calls 888-850-3359 and informs SLF that they are initiating a solar transfer.

Seller receives an email with information requested by SLF. Including but not limited to: Buyers name and email, Escrow’s name and email. If the seller doesn’t have all the information, then they can give permission to have an agent/or escrow officer communicate with SLF. 

Once all info is collected, then SLF reaches out to the buyer to give terms and conditions of the loan. 

Buyer receives an email initiating a credit check for the loan takeover. Once approved and all parties have signed UCC termination completed by SLF and then after the home sale, escrow sends closing documents to sunlight to complete the transfer.

PLEASE BE ADVISED

A common issue when dealing with Sunlight or other credit unions is the buyer’s debt-to-income (DTI) ratio preventing loan qualification. This often occurs because they have recently applied for a home loan, making them ineligible for the solar loan transfer. As a result, the transfer cannot be completed unless the loan is paid off.

Available options include:

- Paying off the loan at closing through an agreement between the buyer and seller.

- The buyer applying for a separate personal loan to cover the remaining Mosaic balance.

Understanding these challenges in advance can help facilitate a smoother transfer process.