Getting Approved: Credit Parameters

A	Credit Requirements	650 Credit Score Soft credit inquiry (no impact on homeowner credit score) No bankruptcies or late mortgage payments (7-Year Lookback) Debt-to-Income (DTI) Not Factored
B	Credit Validity	Credit valid 180 Days from the initial run Once the contract is executed, credit does not expire. (However, LightReach reserves the right to cancel files that do not achieve installation after an extended period of time--technically 160 days or longer. LightReach does not actively enforce this, barring extreme circumstances with the Certified Installer) No more than 3 active applications per client at any given time
C	Credit Application Requirements	Full Name & Basic Contact Information Social is not required but may result in a failed pull or stipulations. Add the last 4 to increase the success rate (90%) and full social to maximize the success rate (99%)
D	Signing Requirements	An email account Contract fully signed & executed in correct, full legal name ACH payment is inputted by the homeowner in the homeowner portal. (payment sign up via the homeowner portal, either through the app or web dashboard. Steps outlined here.)

A	Approved Property Types	In general: Single family, fully-owned homes (residential). This is inclusive of: Primary residence Secondary residence Investment/rental properties (No more than 3 active applications per client at any given time) Multi Family (must be fully owned) C-Corp / S-Corp acceptable, but corp. officer must reside at property and be a signatory on the contract (other docs may be required) Trusts and LLCs are acceptable if the homeowner on the title is also a trustee or the controlling member.
B	Eligible Properties	View full eligible site details here View full manufactured homes policy here

A	Approved LightReach methodology	Production model and inputs must be completed using a pre-approved methodology, including simulation settings and loss rates.

B	Random, Routine Testing	We will review a random sample of customer proposals to compare proposal, design, and consumption models. This a) Allows Palmtto to better support customers on any claims post-activation, and b) Allows us to effectively 'test out' CDs by ensuring design models are executed accurately as told to LightReach.
C	Performance Verification Testing (PVT)	C Performance verification allows us to underwrite Performance Guarantees. This also allows us to flag workmanship issues earlier and reduce liability to the partner while also removing friction from the QA process Certified Developers may need to correct issues identified through performance verification, but no specific deliverables are required. Partners will have a right of first refusal to correct issues identified through PVT.

A	Where can I see specific design input criteria?	Search 'design' in this help center, or, navigate to the Operations section.
B	Are all states a PPA?	PLM's current product suite operates virtually identically, whether it is technically a PPA or Lease. This means that the value proposition and product details are interchangeable. For legal/technical purposes, the product is technically classified as a lease in some states. View applicable states in the "Active Utilities" article in this help center. For practical purposes, the distinction between our PPA and Lease is for state legal purposes. A PPA signifies "pay for power" whereas a Lease signifies "pay for use of equipment". Ostensible, the products amount to the same mathematics, and value proposition. The only difference that may be worthy of note is how the escalator technically works: PPA: Escalator based on the kWh rate Lease: Escalator based on the total cost for the lease.
C	LightReach Reserved Right to Cancel an Order	LightReach reserves the right to cancel files that do not achieve installation after an extended period of time--technically 160 days or longer. LightReach does not actively enforce this, barring extreme circumstances with the Certified Developer (reference 6.1.5) Internally, this relates to our capital providers and funding allocation caps. In short, capital is committed/allocated when a contract is signed. If we, for example, had a bad-actor-CD sign 100 customers, and after 200 days, nobody was installed, this could prevent us from allocating those loan funds to other, actually valid transactions. While this scenario is an extreme fringe scenario, and would likely be dealt with at a portfolio level, it's important for anyone operating at a CD level to have this internal knowledge in back of mind as it pertains to the question of credit validity.
D	Can I have multiple sites/accounts for the same homeowner?	Yes, up to a maximum of 3 active applications per client. Please make sure each account has its own email address. Each site is considered its own project. No repeat email addresses.
E	How is the homeowner's credit checked?	We check both Experian and TransUnion at the same time, taking the higher of the two scores. There are no other changes to our credit approval criteria.
F	Homeowner have frozen credit?	In the event a homeowner has frozen their credit reports, they will need to unfreeze directly with the bureau(s) in order to proceed. Homeowners can visit this site to review more. Upon completion, a new credit application can be submitted: https://www.experian.com/freeze/center.html
G	Is storage permitted?	Yes, with certain parameters. Reference storage article for more details.
H	Are ground mounts permitted?	Yes. The same credit/applicant requirements apply.
I	Soft Credit Check vs Hard Credit Check?	All Energy Plans feature a soft credit check. This means that there is no impact on the homeowner's credit score. Additionally, the PPA does not report as debt. Therefore, there is no consequence to simply seeing if a homeowner is qualified.
J	Maximum of 3 applications?	LightReach can accept up to 3 active credit applications at any given point. Additional homes (IE 4+) can be accepted after the first 3 applications have been PTOd + completed payments on time for 3 months. After the 3 month period, additional homes/applications can be accepted (to the maximum of 3 at any given time).
K	Credit Results: Applicant Not Found	This is typically associated with situations whereby no SSN or last 4 were used. The next step would be to run with full SSN (it's a soft check entirely, so no impact to the homeowner to rerun credit). There are some situations whereby the homeowner has no credit history at all, we can't pull a result.
L	Credit Results: Error	Special characters in the application will result in an error. [ie: commas, periods, asterisks, hyphens, etc.] Using periods in the city name will cause an error. Acceptable: "St Petersburg" or "Saint Petersburg" Unacceptable: "St. Petersburg"
M	What is the Max System Price?	The max system price is $150,000, and deals sold higher are subject to review.