Frequently Asked Loan Questions

What if the installation time is less than 6 months?

All Atmos Solar Loans include a no-payment period for 6 months following loan signing. This period is intended to reduce the financial burden on our customers while the project is being installed. If your installation company is able to complete the project and successfully achieve PTO (Permission to Operate) from your local permitting agencies before six months, you'll get the benefit of free energy in the interim. Atmos does not expedite this no-payment period for projects completed quickly.

What if the installation time is longer than 6 months?

All Atmos Solar Loans include a no-payment period for 6 months following loan signing. This period is intended to reduce the financial burden on our customers while the project is being installed. Atmos Certified installers are expected to complete the project and successfully achieve PTO (Permission to Operate) from your local permitting agencies within this timeframe. If completing the project extends beyond 6 months, Atmos will be in contact with the homeowner and the installation companies to validate the delay and issue an extension of the no-payment period, as needed.

Why did my final rate change from what I was originally offered?

There are two reasons your rate may change during the loan application process:

1) Atmos interest rates are subject to adjustments from time to time to reflect the ongoing changes in the interest rate environment. Rates may increase or decrease. Every month we publish new rates to our partnering installation companies. If you pre-qualified for a loan in one month, but decided to move forward with your project loan in a subsequent month, you may see updating rates in your loan application. We try our best to reduce this risk to you by providing a 15-day rate lock once you've been formally approved for a loan. The 15-day rate lock is to give you time to read and understand your loan agreement, finalize any project considerations, and determine that you want to move forward with your rooftop solar installation.

Please note: Pre-qualification and a formal loan approval are not the same thing. A pre-qualification is performed with a soft credit inquiry with no impact to your credit score. There isn't a time limit associated with your pre-qualification as it is not a formal offer of credit.

2) The interest rate we can formally offer is based on your credit score from a hard credit inquiry. After you pre-qualify for an Atmos loan, which is done through a soft credit inquiry, we show you the indicative rate we can offer to you based on the credit score returned to us from Equifax. After you've pre-qualified, you'll have the opportunity to formally apply for an Atmos Solar Loan by accepting the project costs provided to us by your installation company. Atmos performs a hard credit inquiry at this time to finalize the rate we can offer you and complete any additional underwriting steps. It is not uncommon for credit scores to change slightly between soft and hard credit inquiries. Such changes may result from changes in your personal credit history. If you disagree with your credit score, contact information for Equifax can be provided to you. Atmos does not guarantee a rate based on pre-qualification.

Describe the structure of an Atmos Solar Loan

Months 0 - 6: Regardless of which term you pick, all Atmos Solar Loans get the benefit of no payments for 6 months. This initial no-payment period is intended to give you and your installation company time to install your new residential energy system and start generating cheap, renewable energy before your loan bills kick in. Interest may accrue on your loan during this no-payment period based on milestone payments to the installation company. Any and all accrued interest is capitalized (added onto the principal) and amortized over the term of the loan you select.

Months 7 - 18: Following the no-payment period, you'll get the benefit of reduced payments for 12 more months. The reduced payment is based on an introductory 0% APR for the entirety of your investment tax credit (ITC), offered through month 18 of your loan. On a federal level, this is equal to 30% of your total project cost (including any financing fees), but if you live in a state that has additional state-level tax incentives, you'll get an even greater benefit.

Months 19+: Atmos will automatically re-amortize the outstanding principal balance of your loan after month 18 using the stated, fixed interest rate shown on your loan agreement. This 18-month period gives most customers plenty of time to receive the benefit of the tax credit and pay down the ITC portion of their solar loan if they choose. There is no obligation to pay down the solar loan. However, customers can expect their monthly loan payment to go up if they don't pay down their solar loan by the amount of the ITC. To maintain the same monthly payment, customers should pay down their solar loan by the amount of the investment tax credit assessed on their loan. Please consult with a tax professional to understand if you can take advantage of the ITC to maintain those low monthly payments.

Following the introductory 18-month period, Atmos will re-amortize your loan over the remaining term with any prepayment amount of $500 or more. This enables you to reduce your monthly loan payments as you have disposable income to pay down your loan. There are no fees or penalties for prepaying your loan and no limitations on the number of times you can prepay or re-amortize your loan. Prepaying your loan in any amount will reduce the interest expense you'll pay over the life of the loan. Good for you, good for us.

What type of insurance do I need to cover my home solar system?

All borrowers are required to maintain homeowner’s insurance that covers their solar system. This measure protects homeowners against damages from natural disasters. Outlined in the loan agreement, Atmos reserves the right to request proof of insurance throughout the life of the loan. To add your solar system to your homeowner’s insurance, please reach out to your insurance provider and add the system to the policy. The coverage amount should equal the amount financed.

What happens if I default on my solar loan?

If you default on your Atmos solar loan, Atmos or its banking partners can repossess the solar panels and other equipment installed as part of your solar system. Without producing your own power, your local utility provider would begin billing for your complete energy consumption, potentially increasing your monthly energy bills. Atmos or its banking partner does report such instances to credit bureaus and your credit score would likely be negatively impacted, limiting your ability to qualify for additional debt in the near-term.

What happens to my solar loan if I need to sell or refinance the mortgage for my house?

Since a solar loan is attached to you as an individual, and not secured directly by your home, your loan is not automatically canceled in the event you sell your house or move. Your solar loan will continue to accrue interest and be payable on a monthly basis. Borrowers typically use the proceeds from the sale or refinancing to pay down any outstanding balance on their solar loan without penalty. Since there is a UCC-1 filing associated with the solar system attached to your credit file, lenders of a new home may require that your old solar loan be repaid in full.

Can I refinance or prepay my solar loan?

You can prepay all or a portion of your solar loan at any time, at no cost to you. Prepaying your loan will reduce your overall borrowing costs (a.k.a. interest) over the life of the loan. Every time you prepay an amount greater than $500, Atmos recalculates your fixed monthly cost. Why is this a big benefit to you? The result is that the fixed payments on all future months through the maturity of your loan are reduced. You can pay down the loan at a faster rate if you have some excess cash, or you can pay the minimum amount. The choice is up to you!

Will my monthly payments increase after the ITC?

The fixed monthly payments before month 18 of your loan are based on the assumption that you pay off your loan by the full amount of your eligible investment tax credit by month 18. There is no obligation to prepay your loan by month 18, and the discounted monthly payments during those first 18 months are intended to be an added benefit to you. Your loan will automatically re-amortize at month 18. By that time, if you have failed to pay off the principal balance of your loan by the full amount of the ITC, your fixed monthly payments may increase. By that time, if you have paid off the principal balance of your loan by more than the ITC, your fixed monthly payments may decrease. With an Atmos loan, you can prepay your loan at any time without penalty. Through the life of your loan, your loan will be re-amortized (to reduce your fixed monthly payment) with all prepayments in excess of $500. So, if you aren’t able to make this payment by month 18, that’s OK. You’ll be able to make payments whenever you want through the life of your loan.

What happens after I sign the loan agreement?

After you sign your loan agreement, you should work with your Contractor/Installer to schedule installation of your new rooftop solar system. Atmos will pay your Contractor/Installer directly in two equal installments, once the installer has received the permit to proceed and again once the installation is complete. You’ll never have to handle the proceeds of the loan.

What if I don’t want the loan anymore after signing the loan agreement?

Outlined in your loan agreement, you have up to three days to cancel your loan agreement. Your Contractor/Installer will not begin the project for three days. After three days, if the project has not moved forward and the installation company has not performed work, you may still cancel your loan agreement. To cancel your loan agreement, please contact

Does solar increase the value of my home?

Many people consider going solar for different reasons. While some may be seeking near-term and long-term relief from energy costs, others may be incentivized from the positive environmental impact. No matter what your reason, owning your own solar just makes sense. There is more and more data suggesting that solar panels increase the value of your home. The lift you might expect to see in home value is dependent on your specific house, location, age and the output and age of your solar system. However, so long as the monthly operating expenses of your home decrease as a result of your home solar system and other energy efficiency upgrades, you should expect to see increased value on your next home appraisal.

Can I take time to think about it before moving forward with my solar loan?

Yes! From the time your formal application for credit is approved, you’ll have 15 days to decide whether or not you want to move forward. Following your signature of the loan agreement, you’ll have three business days to cancel your loan. To cancel your contract, reach out to your Contractor/Installer and email

How do I know what loan option is best for me?

Just like so many things in life, the answer is, “It depends!” When choosing a solar loan, you’ll want to ensure you have the flexibility to make your debt payments despite any financial situation life may throw at you. It is generally a good rule of thumb to minimize your mandatory monthly payment by choosing a longer amortization period so you can avoid an incremental monthly financial burden. At the same time, you’ll want to ensure the loan you choose provides you the flexibility to pay down the outstanding principal at a faster rate if you do have the capacity.

What if I don’t agree with the installers/contractors final bid?

If the final bid shown here doesn’t match the discussions with your installer/contractor, please reach out to your installer/contractor before moving forward with your loan application. Atmos uses the final project cost to perform a hard credit inquiry, calculate your fixed monthly payments and establish your expected ITC grant, so it’s important that you are comfortable with the project cost and associated information before finalizing and submitting your loan application.

Do I have to get my home appraised?

No, an Atmos solar loan does not issue a lien on your home. You do not need an appraisal of any kind.

What additional costs can be included in my Atmos solar loan?

Typically, all aspects of the installation project are covered under your solar loan. Atmos proposes to cover 100% of the installation so you can quickly benefit from independently producing clean, renewable energy without any out-of-pocket expense. Talk to your installer/contractor for additional details.

Why do I have to get an Atmos checking and savings account when all I want is the solar loan?

All Atmos solar loans come with an Atmos checking and savings account. Our lending and deposit systems utilize shared software architecture, so it’s helpful to automatically open all accounts at once. You aren’t obligated to use your banking accounts though, and as a free banking service they cost nothing to maintain. 

We provide an added financial incentive to make your monthly loan payments through your Atmos account and there are lots of ways to take advantage of this benefit. If you don’t want to make Atmos your primary banking provider at this time, you can create recurring auto-payments to your Atmos account to cover your monthly loan payments. This will allow you to take advantage of the added savings while maintaining your banking at your other financial institution. 

Atmos offers the world’s most climate-positive banking platform in the world, and with leading rewards, rebates, technology and dedicated customer service, we are confident you’ll be happy you made the switch to Atmos.

How do I make monthly payments on my Atmos solar loan?

You can make monthly payments on your Atmos solar loan by check or through auto-payment directly from an Atmos bank account. Make your monthly loan payments through an Atmos checking account to claim your 0.50% discounted APR.

What additional information is required to complete my loan?

While Atmos may seek additional information to verify certain financial information, in most cases we won’t need anything else from you. Other information may include a recent pay stub or w2 for purposes of income verification.

Does a hard credit pull impact my credit score?

Anytime you seek credit from a lender, that organization may perform a hard credit inquiry to assess your record as a borrower. A hard credit inquiry shows up on your credit report and can affect your credit score; A hard credit inquiry can stay on your credit report for up to two years. It’s important to keep new applications for credit to a minimum in order to maintain strong credit. Please only submit your formal loan application to Atmos if you would like to move forward with an Atmos solar loan.

Am I eligible for other state or local incentives?

You may be eligible for additional state and local incentives. Check with your installer/contractor to learn about local incentives you may be eligible for.

Does Atmos sell or market my personally identifiable information (PII)?

No, Atmos never sells or markets your personal information. We will share your information with vendors or service providers in order to fulfill our obligations to you and your lending partner. You can visit our website to learn more about our Privacy Policy.

How long does it typically take to complete my solar loan application?

You can expect to receive your pre-qualification results from Atmos instantly. Once pre-qualified, you should work with your Contractor/Installer to finalize the scope of your home electrification project. Once your project is finalized, it typically takes less than a minute to review and complete your solar loan application. 

Our loan application system walks you through each step of the process so you’re never unsure of the status of your solar loan. If you do have any questions, feel free to reach out to us at or in the chat bubble in the lower left of your screen.

How long does my pre-qualification remain active for?

Pre-qualifying for a loan is an effective way to see whether or not you’ll qualify for a loan without negatively impacting your credit score. A pre-qualification is not an extension of credit, and there is no time limit associated with a pre-qualification.

Does a soft credit inquiry impact my credit score?

A soft credit inquiry does not impact your credit score and it is not visible to potential lenders that may have reason to review your credit report. Soft credit inquiries are visible to you.

A soft credit inquiry is not considered a formal application for credit. You have no obligation to Atmos or its vendors in applying to pre-qualify for an Atmos solar loan.

How does Atmos use my personal and credit information?

Atmos ascertains certain financial and credit information to cross-reference homeownership and assess the likelihood of your ability to repay an Atmos solar loan. Atmos partners with Equifax at different times in the loan life cycle in order to 1) pre-qualify you for an Atmos solar loan with a soft credit inquiry, and 2) assess your formal loan application with a hard credit inquiry. The terms and conditions provided to you may be subject to the score and attributes associated with your credit report.

What is a UCC-1 filing, and does it encumber my home or interfere with my ability to refinance my mortgage?

Atmos reserves the right to file a Uniform Commercial Code (UCC) form called a “UCC-1 filing” at both the State and County level in order to give public notice that you have entered into a security agreement with Atmos Financial, PBC. Listed in the UCC-1 filing is certain equipment associated with your solar system.

If your mortgage provider were to ever need to foreclose on your home, or if you tried to sell the home without first repaying your loan, then the UCC-1 filing would show up in a title search in the public records. It would notify other parties that the project equipment is not a part of the residence or “real property” (instead, it is removable personal property) and that it is being used as collateral for your loan. The UCC-1 filing includes your name, address, and a description of the collateral (which is an itemized list of your project equipment). Atmos removes the UCC-1 filing after your loan is fully paid off.

Is my Atmos solar loan collateralized against my home?

An Atmos solar loan does not place a lien on your home. In certain jurisdictions, we file what is called a “UCC-1 filing” secured by equipment associated with your solar system.

Will Atmos actually hold my loan?

No, Atmos partners with various lenders to fund your loan. We do this to place your loan with local lenders and community banks seeking to serve their community in new and different ways. Atmos will continue to service your loan as long as your loan remains in good standing. For non-performing loans, loan servicing and any associated collections are performed by the specific lending partner holding your loan. 

Once you’ve completed your Atmos solar loan, your loan details will be available in your Atmos Financial dashboard. Specific questions related to servicing your loan should be directed through your Atmos Financial dashboard.

What makes the Atmos solar loan the best option on the market?

Atmos is striving to provide you the very best residential solar loan option on the market. When it comes to choosing a loan provider, you’ll want to balance your fixed monthly payments, interest rate, flexibility of the loan through maturity, and ease of use.

What makes Atmos Financial different from other financial institutions?

Atmos is the world’s first end-to-end climate-positive banking platform. Every dollar deposited into Atmos goes towards supporting renewable energy projects around the country like yours. That’s right… Your loan is actually being funded by the deposit balances from our other customers! By taking out an Atmos solar loan and keeping your checking and savings with Atmos, your financial relationship is completely carbon-negative. This makes us entirely different from every other banking provider in the world.