The Loan Closing Certificate is the official document that finalizes your loan terms after the initial agreement is signed. It includes final amounts, dates, and confirmation from the lender that the loan has been reviewed and approved based on your project and financial information. Please take into account that the payments and set up on your Concord account it will be based on the information listed on this document.
🔹 Section 1: Basic Loan Information
This section provides an overview of your loan and contact details.
Click to show an example of the "Basic Loan Information"
- Loan Number: This is the Loan ID for your loan (used for all support inquiries).
- Loan Agreement Date: The date when you first agreed to the loan terms
- Loan Closing Certificate Date: When this summary of the finalized loan details was issued. You will be receiving a copy of this document on your email.
- Borrower & Co-Borrower Info: Your legal name(s), email, phone number, and addresses.
- Project Address: The property where the solar system is installed.
- Borrower Address: If different from the project location (e.g., rental property).
🔹 Section 2: Loan and Payment Details
This is the financial heart of the certificate.
Click to show an example of the "Loan and Payment Details"
| Field | Detail |
|---|---|
| Loan Amount | The total amount borrowed without including the closing costs |
| Down Payment | If you did make an initial payment out-of-pocket it will be displayed here |
| APR (Annual Percentage Rate) | The total interest cost of the loan per year. |
| Loan Term | The total loan term, in this case - 25 years or 300 months |
| First Payment Due Date | Subject to disbursement timing. |
This section confirms how much you borrowed, your interest rate, and your repayment timeline.
🔹 Section 3: System Description
This part of the closing certificate show you the components of your solar energy system.
Click to show an example of the "System Description"
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Installation Contractor: The company name that installed your system.
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Equipment Manufacturer/Distributor:
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Panels: Type of panels
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Batteries: Type of batteries installed
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Inverter: Type of inverter installed
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Understanding these components helps if you need maintenance, support, or warranty service. Remember that these process has to be managed with your Installer.
🔹 Section 4: Payment Terms
This section explains how and when you'll start repaying the loan.
Click to show an example of the "System Description"
Initial Payments
These are early payments made before structured monthly payments begin:
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1 payment that it will covers accrued interest.
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Then 16 monthly payments. (Please take into account the amount of payments listed here it could change based on the agreement)
🛈 These payments might differ slightly depending on when funds were fully disbursed to your installer.
🔹 Section 5: Re-Amortization Terms (Important)
Your loan is designed to adjust after 18 months depending on how much principal you've repaid by that point.
Click to show an example of the "Re-Amortization Terms"
| Scenario | Monthly Payment (after re-amortization date) |
|---|---|
| You meet the principal target | The total amount borrowed without including the closing costs |
| You don’t meet the target | Your monthly payment will increase |
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Re-Amortization Date: 11/24/2024
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New Payment Schedule Begins: 12/01/2024
⚠️We recommend to review the whole information regarding re-amortization on your loan on this article.
Tip: Making extra payments before this date can help you lock in the lower monthly payment.
🔹 Section 6: Loan Summary
This wraps up your loan in one place:
Click to show an example of the "Loan Summary"
| Scenario | Monthly Payment (after re-amortization date) |
|---|---|
| Loan Start Date |
This is the date your loan officially began—usually when funds were disbursed and interest started accruing. |
|
PTO Approved (Permission to Operate) |
This is the date your utility company officially approved your solar system to start operating and generating energy. |
|
Maturity Date (Final Payment Due) |
This date marks marks the end of your loan term assuming that you make all your required payments on time. |
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Total Number of Payments |
Total of payments expected on the loan |
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Principal Target for Re-Amortization |
This is the required principal balance you need to reach before the re-amortization date. Meeting this target can help ensure your monthly payments remain lower after the loan is recalculated. |
🔹 Section 7: Lender Confirmation
This section certifies that Skylight Lending has completed their review of:
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The project (equipment, installation, documentation)
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The borrower’s financial qualifications
Click to show an example of the "Lender Confirmation"
They confirm that the loan was approved based on underwriting standards. Please take into account that this section gives the certificate legal validity and states that it modifies and clarifies the original Loan Agreement where needed.
Final Notes
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This document is not a separate contract — it supplements your Loan Agreement.
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It ensures all amounts and dates reflect the final, accurate status of your loan and solar installation.
Still Need Help?
If you need assistance or prefer to speak with someone directly, feel free to contact us at (866) 516-4990 or create a direct request on the webpage. Our friendly Account Services Team is here to help!