Aurora models a wide range of solar loan structures so your proposals accurately reflect the payment options you offer.
Note: Tax credit eligibility (ITC) and loan interest deductibility vary by homeowner. Always recommend that homeowners consult a tax professional.
In this article, we'll cover:
Loan parameters
A loan financing product can contain one loan, or multiple to model for split-loan structures. In Sales Mode, reps select the financing product once: Aurora combines all of its loans into a single financing option — showing each loan's APR together, and summing the financed amount and monthly payment. Some configuration settings apply once, to the financing product, and are inherited by every loan added under it. Others are set individually on each loan and feed into that combined result.
Financing product configurations
Set once, from the product's Edit screen, and shared by every loan you add underneath it:
- Name — The label that appears in Sales Mode. Use a name that helps reps identify the lender and terms at a glance.
- Partner assignment — Controls which partners can see and use this financing product. Defaults to All partners.
- Availability — The country and regions where this financing product can be offered. Leave Regions blank to make it available everywhere.
- Financier — The custom financier this financing product belongs to, if any. See How to create and manage custom financiers for more detail.
- Price adjustment — An optional flat fee, percentage, or per-watt amount that changes the system cost every loan under this financing product is based on. Turn on Include price adjustment, then choose a price adjustment type (Flat, Percentage, or Per watt) and enter a value. Use a positive number to increase the cost (a surcharge) or a negative number to decrease it (a discount). The adjustment is applied before the flat fee and dealer fee, and the adjusted amount becomes the principal basis for every loan under this product. Each loan added underneath shows the adjustment as a read-only field, directly below Principal — it can't be changed per loan. See How to Customize Cash Financing Products for the equivalent field on cash products, and Loan Dealer Fee for how a price adjustment differs from a dealer fee.
- Disclaimer — Optional custom text shown to reps alongside loans created under this financing product.
Per-loan configurations
Set individually each time you click Add Loan on the financing product:
- Name — The name of the loan. This will not be visible in Sales Mode, only the name of the financing product will be displayed.
- Principal — The percentage of the (adjusted) system cost financed by this loan. Set to 100% for no-money-down loans. For split-loan structures, the two loans should together add up to 100%.
- Flat fee — A fixed dollar amount added to the loan principal on top of any percentage dealer fee.
- Dealer fee — The percentage the lender charges as a fee, built into the loan principal. See Loan Dealer Fee for the exact formula.
- Incentives apply to dealer fee — When enabled, incentives are calculated on the dealer-fee-inclusive system cost.
- Interest is tax deductible — Enable for HELOC or PACE loans where interest can be deducted from taxable income. Not common for standard residential solar loans.
- Interest rate — The annual rate provided by the lender. Aurora converts this to a monthly rate for payment calculations.
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Duration — The loan term in months (e.g., 25 years = 300 months).
Loan types
Aurora offers eight loan types. The right choice depends on how your lender structures payments:
- Solar-Style — No payment for at least the first month, with constant payments for the duration of the pay period and an expected ITC buydown. Use for Mosaic, Sunlight Financial, GoodLeap, and Dividend.
- Mortgage-Style — Regular loan with fixed monthly interest and principal payments. Similar to a car loan or home mortgage.
- Bullet — Payoff of interest and principal as a single lump sum at the end of the loan term. Commonly used as the ITC component in split-loan structures.
- Interest Only — Two-term loan: interest-only payments in the first term, then regular mortgage-style payments in the second.
- No Payment — Two-term loan: no payments at all during the first term (interest accrues), then regular mortgage-style payments in the second.
- Mortgage-Style w/ Incentive Paydown — A single combined loan: a Mortgage-Style loan plus an auto-calculated 0%-interest Bullet loan equal to the project incentives.
- Graduated payment (escalating) — Payments increase by a fixed percentage each year rather than staying constant.
- Payment factor — Monthly payments are defined directly by the financing partner as a percentage of the original principal for one or more periods, rather than calculated from an interest rate and term. Use when a partner provides a fixed payment schedule that doesn’t fit a standard amortization formula.
Choosing a loan type by lender
- Mosaic, Sunlight Financial, GoodLeap, Dividend → Solar-Style
- Sunnova → Mortgage-Style w/ Incentive Paydown
- Propel (via Concert) → Payment Factor
If your lender is not listed, contact the Aurora support team and we can advise on the right structure.