How does this program differ from a home equity loan or line of credit?
Typically, home equity lines of credit and home equity loans are made for terms of five to seven years. Some of the participating banks have offered home improvement loans for terms up to 20 years. Although the interest rates will vary by bank and the borrower’s credit history, the rates on the loans available through the GO SOLAR… SAN DIEGO COUNTY program may be lower than those of home equity loans currently available.
