Loan Approval Matrix

Criteria	Accept	Accept	Conditional	Deny
DTI	40% or Less	40% or Less	40% or Less	41% or More
Credit Score (ITIN not accepted)	715 or Greater	700 or Greater *700 if a Platinum Dealer	700 or Greater	699 or Lower
Deed Check	Confirmed	Confirmed	Manual Confirmation*	-
Income1	$75,000 or More	$45,000 or More	$45,000 or More	$45,000 or Less
Max Loan Amount	$100,000	$75,000	$75,000	$0
Min Loan Amount	$10,000	$10,000	$10,000	$0

*Conditional approvals required authentication of deed records by the Almika Underwriting Team.

As part of our loan eligibility requirements, all borrowers must be the recorded owner of the property where the system will be installed. Ownership must be reflected on the county appraisal district (CAD) records or, where applicable, on the county real property office’s website.

If you are not currently listed as the recorded owner, you will need to file the necessary paperwork with your local county real property office to update the records before we can proceed with your loan application.

Please let us know if you have any questions or need guidance on how to update your ownership records.

BORROWERS OVER 65

Criteria	Requirement
Age	Over 65 years old
Loan-to-Value	Must not exceed 33%
Primary Residence	The property must be the borrower's primary home.
Equity (Including New Loan)	Annual income > $65k: Minimum 20% equity
	Annual income ≤ $65k: Minimum 25% equity
	Over 75 years old: Minimum 50% equity
	Over 80 years old: Must have 100% equity

Legal Disclaimer: No borrower will be denied solely based on their age. We will review their information in a comprehensive manner to determine eligibility for a loan. The enhanced underwriting criteria above has been designed, based on our commercial knowledge and past experiences, to prevent the potentially harmful and unfavorable situation of elderly borrowers entering into financing that is not needed or adverse to their financial stability.

Other criteria that may be reviewed

• PRICE CAP - The solar portion of our solar loans can't be above $6.50/Watt. Please read our adder structure carefully. Click this link --> Loan Adder Criteria & Eligibility.
• Loan-to-value Ratios - Total loan value must be less than 35% of the homes market value. Mortgages purchased within 2 years cannot exceed 100% of the homes value and after 2 years cannot exceed 85%.
• Mortgage-to-value Ratios - House Value is the average value retrieved from 3 Realtor sources: 
  • Borrowers over 2 years in their house (per mortgage date): Mortgage to Value should be less than 85% 
  • Borrowers under 2 years in their house (per mortgage date): Mortgage to Value should be less than 100% 
  • If the mortgage to value is at or near the threshold, management can approve.
• ¹- applies to both Borrower and co-Borrowers.
• Manufactured homes are not eligible. Review more about acceptable structures here.
• Borrower must exactly match deed records. For more information, check out signing requirements and deed check pending.
• Applications for ground-mounted solar systems (In Texas) are no longer eligible for underwriting approval.
• Properties titled to a trust are not approved.
• All properties must be deeded to individuals.