Rocket Aims To Grow The Solar Panel Market By Offering Loans

Rocket Companies Inc. will finance solar panels and installations by leveraging technology that allows customers to get mortgages, find homes and get personal loans online.

Detroit-based mortgage giants are in other industries such as car sales and green power today as experts predict the booming home and refinance market could cool. We are looking for expansion in financial transactions. We present our technology platform as a tool that facilitates tedious processes for consumers.

“Automation makes a difference in the customer experience,” said Joel Garman, executive vice president of Rocket Mortgages. “It’s an example that’s been around for 40 years, but it is, should or isn’t always the case. We are leveraging existing technology. Not only do we aim to build a market. “

A dedicated group of the company’s sales team will serve as a solar advisor. They help determine if solar panels are the best fit for your client’s home and connect homeowners to digital finance applications. The sales team also facilitates the installation of solar panels.

Rocket will begin testing sunscreen products in the fourth quarter. They could be available to the public in early 2022.

According to a joint study released earlier this year by the Solar Energy Industries Association and Wood Mackenzie, the United States has more than 2 million solar power plants and panel installations reached an all-time high in 2020. The report predicts that the market solar power could quadruple. by 2030, when about one-eighth of American homes will have solar power. In addition, the federal government encourages consumer recruitment with tax refunds.

But after all, Rocket is still trying to sell a mortgage. The company also announced new interest rate and term refinancing products that offer loans of existing solar panels to homeowners. It often has higher interest rates than mortgages and offers the option of combining it with a single interest rate mortgage.

Providing solar panels is a natural step forward for the nation’s largest mortgage lender, Garman said.

“Rocket Mortgages is not only the nation’s largest mortgage provider, but also one of the nation’s biggest marketing brands,” he said. “From the point of view of our rocket loans, our houses and our cars, we take a slightly more complicated process and help people by really simplifying it. “

Workers will install solar panels on the roof of their home in Granada Hills, Calif. On January 4, 2020. Rocket Company, a major mortgage lender, has announced it will begin funding solar panels and installations.

Rocket Aims To Grow The Solar Panel Market By Offering Loans

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