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Bright Oak logo in whiteLumifi logo in white

Formerly Known As BrightOak

Now lumifi

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A division of oakstar bank

Equal Housing Lender logoMember FDIC logo

Financing
Options

COMPARE THE SOLAR FINANCING PRODUCTS WE HAVE TO OFFER.

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Finance Options

What’s the best option for you?

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Solar Financing Program

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Maximum financed amount of 100K for borrowers who are pre-qualified.
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Pre-qualification is achieved through a soft pull with no impact to the customer’s credit.
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Pre-qualification is achieved using an individual FICO but may include total household income.
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Underwriting criteria allows for a FICO score as low as 680 and a DTI up to 38%.
• DTI calculations do not include requested finance amount.
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Income verification only required on select applications.
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Financing available on all single-family residence types for both primary or secondary residence.
• Excludes mobile homes*
• Excludes commercial, investment & rental properties.

$100K
MAX

finance amount

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$100K
MAX

FINANCE AMOUNT

20 yr term

8.88%

Interest

25 yr term

9.49%

Interest

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$100K
MAX

finance amount

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TERMS AVAILABLE WITH

18 MONTH

interest ONLY PERIODS

Loan Product Details

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20 & 25 year terms available, each with 18 month interest only periods to allow for incentive or principle paydowns.
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20 year term, 8.49% Interest Rate, 7% Platform Fee*
• (18 month I/O payment factor .007075, amortized factor .008945)
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25 year term, 8.99% Interest Rate, 7% Platform Fee*
• (18 month I/O payment factor .007492, amortized factor .008531)
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One time amortization at month 19 with no required minimum incentive paydown.
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Solar, Energy Efficiency and other approved adders capped at $6/watt.
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Storage is allowed and when selected will adjust the cap up to $10/watt.
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Ideal for borrowers who are able to utilize any federal tax credits or local incentives.

Lease Product Details

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20 & 25 year terms available, 7% Platform Fee for both Lease products.
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20yr Payment Factor: .00625; 25yr Payment Factor: .006025
• Multiply Total Lease Amount by the Payment Factor* ex: $30,000*.00625=$187.50 Monthly.
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Fixed monthly payments with no introduction period or re-amortization schedule.
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Warranty & Maintenance coverage to match the Lease product term chosen.
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Performance guarantee of 85% of annual production forecast, adjusted for degradation and shading.
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Solar project not to exceed $6/watt.
• Energy Efficiency capped at 25% of financed amount – No Storage or Generators allowed with leases.
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20 years of active monitoring included – Required cellular connection only.
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Buyout options available at year 7 and end of lease term.
• One time only, NO PREPAYMENTS or CANCELLATIONS ALLOWED.
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Sale of Home Options: Lease may be transferred to qualifying new home buyer, purchased outright or transferred to their new residence.
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End of Lease Options: Renew, go month-to-month, buyout or request removal (at no charge).
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Ideal for borrowers without the ability to utilize the tax credit.

20 yr term

.0068

Payment factor

25 yr term

.0066

Payment factor

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$100K
MAX

finance amount

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LEASE WITH

FIXED

MONTHLY PAYMENTS

*A mobile home is defined as a dwelling structure built on a steel chassis & fitted with wheels that is hauled to a permanent site, with the steel chassis remaining in place after placement at the permanent site. *Based 20-year Fixed-Rate Loan: An interest rate of 8.49% (8.49% APR). On a $30,000 loan you would make monthly payments of $268.35 *Based 25-year Fixed-Rate Loan: An interest rate of 8.99% (8.99% APR). On a $30,000 loan you would make monthly payments of $255.94 *Pricing included in this document can and will change from time to time. Current Lumifi Platform pricing will supersede any listing pricing in this document. If you are unsure of your current pricing contact Lumifi Partner Support.

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Learn more about Lumifi and how our solutions are designed to benefit people and the planet.
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Work With Us

Which one better describes you?

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Partner
Solar companies and sales teams who want a stable financial partner
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Homeowner
Individuals and families who are exploring their solar financing solutions

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formerly known as BrightOak

A division of oakstar bank

Equal Housing Lender logoMember FDIC logo
CONNECT WITH US
PARTNER SUPPORT: 417.877.0263
CUSTOMER SUPPORT: 417.217.7555 | Option 1
brightteam@lumifibank.com
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