Lender comparison

Sunlight Financial vs. GoodLeap, Mosaic, Dividend, and Sungage.

A side-by-side look at the five major U.S. solar lenders — minimum credit, APR ranges, loan sizes, and the structural quirks each one carries.

Quick comparison

Sunlight Financial leads on APR range (0%-6.99%) and term length (up to 30 years), but ties Sungage on credit floor (650 FICO).
GoodLeap has the lowest credit floor (640) but maxes out at $90K loan size — better for smaller systems and sub-650 borrowers.
Mosaic and Dividend require 700+ FICO and start APRs higher; best for prime borrowers who want established servicers.
None of these lenders accept direct consumer applications — all require an enrolled installer. Your effective choice is whichever lender(s) your installer is enrolled with.
The headline APR is not the full cost. All five build dealer fees into your financed price, so the 0%-2% promo rates often have the highest effective APR after fee amortization.

Skip ahead — see your match

The five lenders we cover here account for the large majority of U.S. residential solar loan volume.^[1] Most installers work with two or three of them, and the loan you’re offered depends as much on which lender your installer enrolled with^[2] as on your own credit^[3]. Use this table to know what good looks like before you sit through the sales call.

Lender	Min FICO	APR range	Loan size	Term length	Re-amortizing	Direct application
Sunlight Financial	650	0.00%–6.99%	$10K–$100K	3 mo – 30 yrs	Yes (most products)	No (installer only)
GoodLeap	640	0.99%–7.99%	$10K–$90K	5–25 yrs	Yes	No
Mosaic	700	1.49%–8.99%	$15K–$100K	10–25 yrs	Some products	No
Dividend Finance	700	2.99%–9.99%	$10K–$100K	5–25 yrs	Yes	No
Sungage Financial	650	1.49%–8.99%	$10K–$100K	10–25 yrs	Some products	No

How to read this table

The APR range matters less than where you land in it. Every lender on this list publishes a low number that almost no one actually qualifies for — typically 0.00%–1.49% — and a high number that subprime borrowers see. The realistic rate for most mid-prime borrowers (700–740 FICO) falls in the middle: 3.99%–5.99% depending on dealer fee and term.

Sunlight Financial vs. GoodLeap

The two most direct competitors. Both are pure point-of-sale solar lenders, both work through installer networks, and both have similar product lines. The differences are at the margins — but those margins matter when you’re comparing two real offers.

Where they overlap

Both are POS-only; you can’t apply direct.
Both offer 0% promotional APR tiers on shorter terms.
Both re-amortize at month 18 (assuming you applied the federal tax credit to principal).
Both have nationwide installer networks of 10,000+ contractors.

Where they differ

Credit floor: GoodLeap 640 vs. Sunlight 650. If you’re right on the line, GoodLeap may approve where Sunlight won’t.
Loan size ceiling: Sunlight goes to $100K, GoodLeap caps at $90K. Matters only on large multi-roof installs.
Term length: Sunlight offers up to 30 years on select products; GoodLeap tops out at 25.
Dealer-fee structure: GoodLeap’s dealer fees tend to run slightly lower than Sunlight’s on equivalent promotional tiers — though this varies installer by installer.

Choose Sunlight if…

You’re a prime borrower needing a 30-year term to minimize monthly payment, or you have a large ($85K+) install that pushes against GoodLeap’s ceiling.

Choose GoodLeap if…

Your credit is mid-600s (640–650), or your installer’s GoodLeap dealer-fee tier is meaningfully better than the Sunlight tier they’d offer you. Always compare the financed system price, not just the monthly.

Sunlight Financial vs. Mosaic

Mosaic and Sunlight take noticeably different approaches. Mosaic underwrites more conservatively, has a higher credit floor, and has stronger customer-service marks — but the rates are higher and the product line is narrower.

Where they overlap

Both POS-only.
Both originate solar and home-improvement loans.
Both serve nationwide through installer networks.

Where they differ

Credit floor: Mosaic 700 vs. Sunlight 650. Mosaic effectively requires prime credit.
APR range: Mosaic’s floor is 1.49% vs. Sunlight’s 0.00%, but Mosaic’s top end (8.99%) is also higher than Sunlight’s standard 6.99%.
Re-amortization: Sunlight re-amortizes on most products; Mosaic re-amortizes only on some.
Customer service track record: Mosaic’s CFPB response rate and complaint resolution tracks slightly cleaner than Sunlight’s, in part because of its more conservative borrower base.

Choose Sunlight if…

Your FICO is in the 650–699 range (you won’t qualify for Mosaic), or you want the longer-term product flexibility.

Choose Mosaic if…

You’re prime credit (720+), you value a cleaner customer-service experience over absolute lowest APR, and your installer’s Mosaic dealer-fee tier is competitive.

Sunlight Financial vs. Dividend Finance

Dividend Finance differentiates itself from Sunlight on product breadth — particularly home improvement and battery storage — rather than on pure solar economics. If you’re bundling solar + battery + roof in one finance package, Dividend often wins on flexibility.

Where they overlap

Both POS-only.
Both originate solar loans.
Both cover the standard 25-year term length.

Where they differ

Credit floor: Dividend 700 vs. Sunlight 650. Dividend skews prime-only.
APR floor: Dividend starts at 2.99% — no 0% promotional tiers like Sunlight has.
Product mix: Dividend has more aggressive home-improvement loan options (HVAC, roofing, kitchens) bundled with solar; Sunlight covers HI through Tangerine™ but separately from solar Orange®.
Battery storage: Dividend offers integrated battery financing (PowerWall, Enphase IQ Battery, Generac PWRcell) that Sunlight handles less seamlessly.

Choose Sunlight if…

You’re solar-only or solar-primary, you want the cheapest possible promotional APR, or your FICO is 650–700 (below Dividend’s floor).

Choose Dividend if…

You’re financing solar + battery + roof together, or you want one POS lender across multiple home-improvement projects beyond solar.

Sunlight Financial vs. Sungage Financial

An interesting footnote: Sungage was co-founded by Josh Goldberg, formerly of Sunlight, and is now part of the consortium that owns post-restructuring Sunlight. The two have very similar profiles in practice.

The practical reality

If your installer offers both, you’ll often see nearly identical product structures: similar credit floors (650), similar APR ranges, similar term lengths, similar dealer-fee model. The deciding factor on any given day is which lender is running which promotional tier — and the dealer fee gets baked in before you see it. Get quotes from both and compare the financed system price line-by-line.

The takeaway

No single lender is “the best.” The right lender for you depends on (a) your credit tier, (b) which lenders your installer is enrolled with, (c) the dealer fee on each offer, and (d) the term length you actually want. Always compare the financed system price across two lenders before signing, not the monthly payment.

Run the comparison on your own numbers.

Plug each lender’s quoted APR and principal into our calculator to see lifetime cost.

Run the calculator Read more

Sources & verification

References

Industry-level sources for the comparison framework on this page.

[1] U.S. Solar Market Insight — Residential financing trends ↑Solar Energy Industries Association
[2] Solar Loans Explained — Industry Overview ↑EnergySage
[3] Understanding FICO Score Ranges ↑Fair Isaac Corporation (myFICO)

Frequently asked

Lender comparison questions, answered.

Which solar lender has the lowest APR?

Sunlight Financial publishes the lowest advertised solar APR among major U.S. point-of-sale lenders, starting at 0.00% on certain loan structures. GoodLeap starts at 0.99%, Mosaic at 1.49%, and Dividend Finance at 2.99%. However, those promotional APRs come with dealer fees baked into the financed principal — the lender with the lowest advertised APR isn't necessarily the cheapest total cost. Always compare APR, term, and dealer-fee-inclusive total payment side-by-side.

Should I use a solar loan or a HELOC?

Use a HELOC if you have at least 20% home equity and can wait 4–6 weeks for closing — HELOC rates of 8%–10% are usually below the effective rate of a solar loan once dealer fees are factored in. Use a solar loan if you need to close in days, don't have home equity, or don't want to encumber your home. The federal solar tax credit applies either way for owner-occupied installations.

What is a dealer fee on a solar loan?

A dealer fee is the amount the installer pays the lender to offer a below-market APR. It typically ranges from $0 to about $5.00 per watt of system capacity. On a 10-kW system, that's up to $50,000 added to the financed system price — but it's never shown as a line item on loan documents. The dealer fee is the single largest hidden cost in solar financing. Always ask for the cash-purchase price alongside the financed price.

How do I compare solar loan offers fairly?

Don't compare APRs alone. Calculate total cost over the life of the loan using the actual financed principal (cash price plus dealer fee), the APR, and the term. Get the cash-purchase price from each installer, then ask what loan terms they can offer. The cheapest financed deal is often a higher APR with a lower dealer fee. Use a lender-neutral calculator and verify the dealer fee in writing before signing.

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