Frequently Asked Questions

WILL I STILL HAVE AN ELECTRICITY BILL FROM MY UTILITY AFTER GOING SOLAR?

Yes, most of our customers will still pay a vastly reduced Electricity Bill to their utility in addition to their monthly loan payment to GoodLeap. Typically, homeowners consume more electricity than the solar system generates, therefore, you will still owe your utility for that excess consumption and potentially for interconnection charges. However, if the solar system generates more electricity than you use, you may be eligible for credits from your utility provider.

HOW DOES THE FEDERAL RESIDENTIAL TAX CREDIT (ITC) WORK?

The Residential Tax Credit (sometimes called “ITC” or “RTC”) in 2022 is a 30% federal tax credit for solar systems on residential properties. As the owner of the solar energy system, you may be eligible to apply the credit as a dollar-for-dollar reduction of the federal income taxes that you owe in the year that you purchased your solar system. If the RTC granted for your solar system is greater than your tax liabilities in the year that you purchased your solar energy system, you may be able to apply the remaining RTC in subsequent years. To determine your eligibility for any federal solar residential tax credit, you should make an independent assessment or consult with your tax advisor.

Here's an example:

The typical homeowner that goes solar with GoodLeap pays about $30,000 for their solar installation. In this example, the 30% federal tax credit could reduce a borrower's taxes by $9,000 - a nice bonus! Through December 31, 2032 homeowners qualify for a federal tax credit worth up to 30% of the total cost of the solar installation. To qualify for the solar federal tax credit, a borrower must meet all the following requirements:

• - Own their home (renters are excluded)
• - Their income and resulting federal tax liability must be sufficient to use the tax credit
• - Own their solar system (financing the system with a loan from GoodLeap meets this requirement)

WHAT'S THE DIFFERENCE BETWEEN A TAX CREDIT AND A TAX REBATE?

The ITC is a federal tax credit, not a rebate. Tax credits offset the balance of tax due to the government. Therefore, you must owe taxes to be able to benefit from the tax credit. Please note, people who do not pay federal taxes may not be able to take full benefit of the tax credit. This includes the following, if they do not have other sources of income:

• - Borrowers on fixed income
• - Borrowers that are retired
• - Borrowers that worked only part of the year

If a borrower does pay enough in federal taxes the year they finance (or purchase) a solar system, the credit can be applied to pay off the taxes due. Borrowers can claim the tax credit over multiple tax cycles if they don't have the full tax liability in year 1. If the borrower already paid all their taxes by withholding them from their paycheck, the federal government will apply issue a tax refund for the delta.

HOW EXACTLY ARE MY LOAN PAYMENTS STRUCTURED?

The loan is structured to give you time to be able to get the benefit of the 30% Federal Residential Tax Credit to then pay down your loan, so that your initial monthly payments are kept low for 18 months. After month 18, your loan will re-amortize, and your new monthly payment will be adjusted so your loan is fully repaid by the end of your term. Most of our loans* follow the following 3 scenarios after the month 18 is passed:

A. If you pay down your loan 30% by month 18, your monthly payment will remain approximately the same throughout the life of your loan.

B. If you do not pay down your loan 30% by month 18, your new monthly payment will be higher than your initial monthly payment.

C. If you pay down your loan by more than 30% by month 18, your new monthly payment will be less than your initial monthly payment.

* Please note our Flexpay loans are structured so that borrowers can pay as little as just interest for the first 18 months. For questions about these loan payments, please reference your Loan Documents or call our customer support: 1-844-562-6725

WHEN IS MY FIRST PAYMENT DUE?

Your first payment date is indicated in your Closing Certificate. To have us resend your Closing Certificate, please email us at closingcertificates@goodleap.com. Or, you can review all your loan details on your Portal.

HOW DO I MAKE A PAYMENT ON MY LOAN?

If you are paying by check, please include your Loan Agreement Number on your check and mail it to: GoodLeap, PO Box 850717, Richardson, TX 75085. If sending payment by FedEx or other non-USPS method, our physical address is: GoodLeap, 3300 East Renner Rd, Richardson, TX 75082.

If you have set up your payments to be made by Autopay, your account will be withdrawn monthly for the exact amount of your solar loan payment. To view your current Autopay settings, please visit the online Portal from the goodleap.com homepage.

HOW DO I ENROLL IN AUTOPAY?

To enroll in Autopay, please enter your Portal and follow the instructions on the Autopay tab.

WHEN IS MY TARGET BALANCE DATE AND WHAT IS MY TARGET BALANCE?

To view your Target Balance Date and Target Balance, please log in to your Portal from the goodleap.com homepage.

HOW DO I MAKE A PAYMENT TO APPLY THE FEDERAL RESIDENTIAL TAX CREDIT TO MY LOAN?

You may make any prepayment, including your residential tax credit prepayment, by either sending a check or logging into your personal payment portal and making a one-time payment via ACH.

If you are paying by check, please include your Loan Agreement Number on your check and mail it to: GoodLeap, PO Box 850717, Richardson, TX 75085. If sending payment by FedEx or other non-USPS method, our physical address is: GoodLeap, 3300 East Renner Rd, Richardson, TX 75082.

WILL I BE CHARGED ANY PREPAYMENT PENALTY?

No, GoodLeap never assesses any fee or penalty for prepayments.

WHEN DOES INTEREST BEGIN TO ACCRUE ON MY LOAN?

For most of our loans, interest begins accruing from the date that GoodLeap funds your loan. Please reference your loan documents for specific dates.

ONCE APPROVED FOR CREDIT, HOW LONG IS IT VALID?

Our credit approval is valid for 180 days from when we initially run your credit. Your loan must fund within 180 days of running your credit, or we will simply need to revalidate your credit.

WHAT IS A UCC-1 FINANCING STATEMENT AND IS IT A LIEN ON MY HOME?

We secure your Solar Loan through a lien on the solar equipment itself by filing a UCC-1, or Uniform Commercial Code Financing Statement, and county fixture filing. The filings are not a lien against your home, so we do not hold any interest in your home (first, second, or otherwise). You will, however, find a UCC-1 fixture filing in the state and county records for your property. However it specifically states it is a lien against the solar system only. We file and record the UCC-1 to protect our rights as the financier of the system. It protects our security interest in the system, against any other lenders, creditors or buyers who might try to claim otherwise.

If you have any questions about the UCC-1 or county fixture filings, please contact us at solarinfo@goodleap.com

I WANT TO SELL MY HOME. WHAT DO I DO ABOUT MY GOODLEAP LOAN?

You have two options:

In the vast majority of cases, homeowners choose to pay off the remaining balance of the GoodLeap loan through the sale of their home.

However, if the new homeowner wishes to assume the loan, he/she must apply to qualify for a GoodLeap loan. This loan is assumable upon the sale of the property to a new owner, if the new homeowner qualifies under GoodLeap's underwriting guidelines and if the assumption is approved by GoodLeap. GoodLeap holds the right to deny the assumption, even if the new homeowner qualifies under GoodLeap's underwriting guidelines. If he/she is not approved, then you must pay off the remaining balance of the GoodLeap loan.

WHAT ARE THE BENEFITS TO ROLLING MY SOLAR LOAN INTO MY MORTGAGE?

Through our Mortgage Division, we can offer you very competitive interest rates on your mortgage. Because mortgage interest is tax deductible, most of our customers can see significant savings by refinancing and paying off their solar loans with their mortgage. To understand the benefits of rolling your solar loan into your mortgage, please call one of our specialists at: 1-844-562-6725 or visit us at goodleap.com

WHAT HAPPENS TO THE UCC-1 DURING A REFINANCE?

Because our UCC-1 filing is not a lien against your home, there is no legal need for anything to be done. Your mortgage loan can be refinanced as-is. However, in some situations to help you, we may agree to lift our county UCC-1 filing on the Solar Equipment for a limited period provided we will be able to refile upon closing of the mortgage refinancing.

WHERE CAN I GET THE APP?

Download the GoodLeap Home app on the App Store or Google Play

IS MY GOODLEAP APP LOGIN THE SAME AS MY LOGIN AT paygoodleap.com?

No, your GoodLeap login is new and separate from any other login you may have used to make payments to GoodLeap.

HOW DO I REGISTER FOR THE APP?

Download the GoodLeap Home app and you will see sign-up instructions on the first page. If you have an account with GoodLeap, you must register with the same email as your account.

I FORGOT MY GOODLEAP PASSWORD AND CAN'T LOGIN, WHAT SHOULD I DO?

From the GoodLeap Home app login page, select Forgot password. You will be directed to reset your password through your email. If you don't see an email, make sure to check your spam and junk folders.

MY GOODLEAP ACCOUNT ISN'T SHOWING IN THE APP?

Your account will automatically show in the app after your project is installed and funded. You'll receive an email notification when your account is ready to manage.

HOW DO I CHANGE MY NAME IN THE APP?

Navigate to the Profile page by tapping the Profile icon in the upper right hand corner of the screen. From the Profile page, tap Contact Name under Contact Information. Edit your information and tap Save when you are done making changes. Please note, changes made in your profile will not update your financial accounts with GoodLeap. Contact GoodLeap customer service to make account-level changes.

HOW DO I CHANGE MY PHONE NUMBER IN THE APP?

Navigate to the Profile page by tapping the Profile icon in the upper right hand corner of the screen. From the Profile page, tap Phone under Contact Information. Edit your information and tap Verify Phone Number. You will be navigated to a screen to confirm your new phone number. Enter the code sent to your phone and tap Continue to proceed. Please note, changes made in your profile do not always update your master account with GoodLeap. Contact GoodLeap customer service to make account-level changes.

HOW DO I CHANGE MY EMAIL ADDRESS IN THE APP?

Your email cannot be changed from the mobile app at this time. Please note, changes made in your profile do not always update your master account with GoodLeap. Contact GoodLeap customer service to make account-level changes.

WHERE CAN I LOCATE MY LOAN/ACCOUNT NUMBER IN THE APP?

Navigate to the Home or the Accounts tab and select the account. If you have multiple accounts, each account number will be located in the upper right hand corner of the cards. If you have a single account, tap Account Details to view your account number.

HOW DO I GET A COPY OF MY LOAN OR LEASE AGREEMENT/CONTRACT IN THE APP?

Navigate to the Home or the Accounts tab and select the account you would like to see the documents for. From the Account page tap Documents & Statements. Scroll to find the document and select Download to save to your device. Depending on the device you are on, you may find the document saved to Files or Downloads. For any documents not found, please contact customer service.

CAN I APPLY FOR A NEW LOAN IN THE APP?

You cannot apply for a loan in the app at this time. However, if you are interested in a new project, navigate to Shopping in the bottom bar and enter in your information to start the process.

HOW DO I GET A COPY OF MY BILL?

Navigate to the Home or the Accounts tab and select the account you would like to see the statement. From the Account page tap Documents & Statements. Scroll to find the statement and tap Download to save to your device. Depending on the device you are on, you may find the document saved to your Files or Downloads folder.

HOW CAN I PAY MY BILL?

Navigate to the Home or the Accounts tab and select the account you would like to pay. From the Account page, select Pay button to start a payment. Select the payment amount, source of payment, and date to pay. Tap Review Payment to review your payment details, then tap Submit to proceed with payment.

To set up ongoing monthly payments with Autopay, see HOW DO I SET UP AUTOPAY?

HOW DO I SET UP AUTOPAY?

Navigate to the Home or the Accounts tab and select the account you would like to set up Autopay for. From the Account page, select Enable Autopay to set up your autopay settings. By default, the statement amount will be selected. Select the Payment Method or Add bank or card to add a new Payment method. Review selections and select Enable Autopay to submit. Upon successful submission, the Autopay Confirmation screen will display. Select Done when complete. To make any changes to autopay, select Edit Autopay. Autopay will withdraw the payment from the selected payment source on the next due date.

HOW CAN I CANCEL MY AUTOPAY?

Navigate to the Accounts tab and select the account you would like to disable Autopay for. From the Account page, select Manage Autopay. On the Autopay screen tap Disable Autopay. Confirm you would like to disable autopay by selecting Disable Autopay. Disabling Autopay may result in termination of any Autopay incentives provided to you. Check with a GoodLeap customer service agent to understand the impact on your loan.

If you would like to edit the Autopay settings instead of fully disabling, you may edit the selections from the Manage Autopay screen and tap Update Autopay to save the changes.

HOW CAN I MANAGE MY PAYMENTS?

From Home or the Accounts tab, select the account you would like to manage payments on. Scroll to Upcoming section to view all upcoming scheduled payments. Select Edit on the Payment you would like to manage.

CAN I MAKE A PAYMENT WITHOUT LOGGING IN?

Yes, you can make one-time payments with Guest payments on the app and also from paygoodleap.com on the web. You will need your account number (located in the Welcome Documents sent to you when the loan was funded) and your zip code for the property. If you have not registered for the app, you may select Guest payment from the registration screen. Enter the account number, zip code, payment amount and select Continue. Select the Account type (Checking or Savings account), enter the Account and routing number, and enter the Name of Account Holder with the payment method account holder's name. Click Pay to submit your payment. You will see Success if your payment went through.