KB Home Solar Disclosure
*Consistent with California energy regulations, new homes must be equipped with solar panels. These are not included in the posted price, but may be leased for a monthly payment, or purchased for an additional cost that may be eligible for mortgage financing. The required size of the solar system depends on several factors, including home size and climate zone. The installed solar system may reduce your monthly local electric utility company bill. For more information, see sales agent and Solar Energy System Addendum.
Estimated cost of an average-sized solar system:
- Assumed terms: Conventional 30-year fixed rate mortgage
- Estimated cost: $62-$70 per month (could be higher depending on interest rate)**
- Assumed terms: 20-year, zero-down lease program
- Estimated cost: $65-$86 per month***
Monthly cost estimates vary depending on location of home, interest rate if system is purchased, capacity and output of system if system is leased and other factors, and are subject to change without notice.
**Estimate based on mortgage financing provided by KBHS Home Loans, LLC®. Range of estimated cost assumes borrower qualifies for a conventional 30-year fixed-rate mortgage loan including a solar system with a value of $14,000, with an interest rate of between 3.5 % and 4.5 % (APR 3.796 % to 4.833 %) for the life of the loan and pays 10% down payment. Interest rate could be higher. Additional monthly payment (for the solar system portion of the home sales price only) includes principal, interest and mortgage insurance only. Estimate assumes borrower has good credit, sets up a tax and insurance escrow account, provides full documentation, and pays estimated closing costs of 3% of the home sales price. Program, rates, fees, terms and conditions are subject to change.
This is not a commitment to lend. Program restrictions apply. KBHS Home Loans, LLC® is a Delaware Limited Liability Company headquartered at 300 East Royal, Suite 250, Irving, TX 75039 (877) 698-6300. Company NMLS#1542802 (www.nmlsconsumeraccess.org). KBHS Home Loans, LLC is licensed, registered, or exempt from licensing to conduct business in the following states which require license disclosure on advertising materials: Licensed by the Department of Business Oversight under the California Financing Law #6008067717 and California Residential Mortgage Lending Act RMLA # 41DB067718; Contact a KBHS Home: Loans, LLC representative to learn more. KBHS Home Loans is an authorized FHA loan lender. KBHS Home Loans, LLC offers many loan products. © 2020 KBHS Home Loans, LLC. All Rights Reserved.
KBHS Home Loans, LLC policy is to treat all applicants and borrowers in a fair and consistent manner and without regard to race, color, religion, national origin, age (provided the applicant or borrower has legal capacity to enter into a binding contract), sex, marital status, disability, familial status, receipt of public assistance, exercise of rights under the Consumer Credit Protection Act, or any other prohibited basis identified under state law.
***Information provided by the Lessee - Sun Power Solar Energy Systems. Estimate is a range based on the energy production factors used to determine lease terms, compared to the system purchase cost financed in a system purchase. Actual lease cost will depend on the location of the home, the number of panels in the system and the modelled energy output of the system. For specific lease costs and details please contact Sun Power, which is not an affiliated company of KBHS Home Loans. Phone #800-786-7693.
Making the decision regarding how to finance the solar energy system for your KB home depends on your preferences, needs and financial goals. The information at www.kbhome.com/solarinfo can help you prepare for making the decision.
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