Introductory payment vs. long-term payment
Some solar loans show an initial payment calculated as if the homeowner will apply a tax credit or other lump sum to the balance. If that prepayment is not made, the lender may re-amortize the loan and increase the monthly payment.
- Introductory payment
- Tax-credit prepayment assumption
- Deadline to reduce principal
- New payment after re-amortization
What the review checks
Cancel My Solar compares the sales pitch with the loan documents and payment notices to determine whether the payment-change mechanics were explained before signing.
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