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MySolar Information for Installers


UMassFive is proud to offer solar financing through our own MySolar Loan, and we make it easy for installers and consumers alike. Please familiarize yourself with the information below as it will ensure a smooth transaction for you and your clients.

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Key Components of the MySolar Product Include:

Origination FeesNone
Disbursement Schedule60% upon signed contract; 40% upon interconnectivity
Disbursement Method2-party check payable to borrower and installer; borrower can authorize direct payment to installer via single party check or ACH
Maximum Loan Amount$75,000 for borrowers with credit scores of 750 or above. Lower maximums for borrowers with lower scores
Minimum Credit ScoreNot applicable - Each loan is individually underwritten
Interest-only PeriodFull 12 months
Maximum Amortizing Term15 years
RatesFixed rate as low as the Prime Rate plus 0.00% (credit score of 750 or greater for 5 year term); higher rates apply for longer terms and lower scores
Site Preparation CostsCosts allowed for tree removal, roof repair, etc. up to 15% of the Project Cost
Minimum TSFR60%
Maximum Overproduction150% of existing consumption
Geographic TerritoryMassachusetts and contiguous states
Consumer PortalThe entire loan process can be accomplished digitally
Installer PortalDocument upload through secure FTP site
Other RequirementsBorrowers must join UMassFive prior to disbursal of any funds

Becoming an Approved MySolar Installer

Installer Procedures and Disbursement Schedule

Inquiries: Please send inquiries to

Disbursement Schedule: Please provide us with the following documentation in order to initiate a disbursement.

EventContract SignedConnectivity Achieved
Amount Disbursed60%40%
Documents RequiredContract, Shading Report/Analysis, Recent electric billAuthorization to Interconnect from utility, installation photo

Document Delivery Instructions:

  1. Upload to
  2. Enter “” as email address (not case sensitive)
  3. Complete Secure Upload details
  4. Click Select Files to Send
  5. Browse your computer to select files for upload
  6. Hit Upload and Send when complete

Understanding Credit Union Membership

UMassFive is a not-for-profit financial cooperative, and as such, can only make loans to members of the cooperative. All borrowers on a MySolar Loan from UMassFive must be members prior to any loan disbursal. If there are joint applicants on the Solar Loan, both borrowers must be members. We can pre-approve your client at any time, but no funds can be disbursed prior to them becoming members.

Anyone can establish membership at the Credit Union. Immediate eligibility is available to the employees, students, alumni, or members of select employer groups, schools, and associations. Family members of current members are also immediately eligible to join the Credit Union. So, if your parents, grandparents, children, spouse, or siblings are members of UMassFive, you're eligible. Click here for membership eligibility information.

If your client does not meet the criteria above all they will need to do is join a sponsoring organization first. UMassFive has streamlined this process by creating a joint Community Involved in Sustaining Agriculture (CISA) and UMassFive membership option. As a prospective member, UMassFive will pay the membership fee for CISA and open both memberships simultaneously. When applying for Solar financing online, your clients should be instructed to choose "I am not sure" under the eligibility affiliation dropdown.

Once they have determined how they are eligible to join UMassFive, they may do so by applying online, over the phone, or visiting one of our branches.

The project will be eligible for funding once each borrower has purchased a $5 share in the Credit Union. The share will be maintained in a savings account and entitles them to all the services of the Credit getting a solar loan!