Sharp Electronics Corp., the U.S. subsidiary of Sharp Corp., and CitiMortgage, a St. Louis-headquartered provider of mortgage products and member of Citigroup, have developed the CitiMortgage Home Equity Program that allows consumers to use the equity in their homes to help offset the cost of installing solar systems.
The program offers homeowners the choice of a fixed-rate home equity loan or a home equity line of credit with a 10-, 15-, 20-, 25- or 30-year term. These loans can be used to install a solar system in one's home, such as solar panels on a rooftop, to increase its value.
‘Our Home Equity Program provides a way for customers to make a smart, environmentally friendly upgrade to their homes without dipping into their savings or retirement accounts,’ says Wendy Schwab, CitiMortgage's vice president and director of its retail corporate and affinity programs.
