HVAC FINANCING FOR HOMEOWNERS
Goodbye old air conditioner.
Hello happiness.
What are your HVAC financing options?
Wondering whether you can finance an HVAC system? The answer is yes, but many HVAC financing options require long approval times or excellent credit scores. And while using a credit card to pay for AC upgrades comes with high interest rates and short repayment terms. PACE financing is different. We offer the perfect combination of higher financing amounts, long repayment terms, and affordable, fixed interest rates. All without any minimum FICO requirement. This table can give you a better idea of how HVAC financing works.
PACE Funding |
Home Equity Line of Credit (HELOC) | Credit Card | |
|---|---|---|---|
| Repayment Terms |
Up to 30 Years
|
Up to 30 Years
|
Not Applicable
|
| Rate Structure |
Always Fixed
|
Fixed or Variable
|
Compounding
|
| Approval Time |
Within Minutes
|
Up to a Month or Longer
|
Same Day
|
| Approval Based on Credit Score |
No
|
Yes
|
Yes
|
| Obligation Shows on Credit Report |
No
|
Yes
|
Yes
|
| Lien on the Property |
Yes
|
Yes
|
No
|
| Tax Deductible Interest |
Consult Your Tax Advisor
|
Consult Your Tax Advisor
|
No
|
| Enhanced consumer protections |
Yes
|
No
|
No
|
Financing your HVAC project through Home Run Financing.
Frequently Asked HVAC Questions
Unsure what credit score you need to finance an HVAC system? PACE isn’t a traditional loan, so we don’t use your credit score to determine your eligibility. This means you can get furnace or air conditioning financing even with bad credit. Approval is based on the amount of equity you have in your home, your mortgage payment history, and your ability to repay your PACE assessment. PACE rewards you for the years you spent saving for a down payment and for responsibly paying your mortgage on time. To learn more about getting HVAC financing with bad credit, visit the PACE Funding page.
Home insurance typically covers AC units and heat pumps for damage caused by fires, falling trees, vandalism, lightning strikes and sometimes flooding, similar to coverage for the rest of your home. However, normal wear and tear or accidental damage is typically not covered by home insurance policies.
If your HVAC simply breaks after 10 years of use, then you usually won’t be reimbursed for repair or replacement. We encourage you to check with your home insurance company for specific coverage details about your air conditioning or heating unit. You can always reach out to Home Run Financing when your insurance company refuses to cover the costs. We can help you get AC financing quickly and affordably, regardless of your credit score.
Many HVAC companies offer financing, but it is important to understand your options before making a decision. Unsecured loans will typically require strong credit scores to be eligible for competitive interest rates. Many unsecured loans also have relatively short repayment periods, leading to higher monthly repayment costs. PACE offers long terms and competitive rates, on top of no credit check HVAC financing. This makes PACE a great option for HVAC upgrades and replacements.
There are a handful of federal programs designed to help low-income families with their heating, ventilation, and air conditioning (HVAC) needs. These include the Department of Energy’s Weatherization Assistance Program (WAP), US Department of Health and Human Services’ Low Income Home Energy Assistance Program (LIHEAP), and the Environmental Protection Agency’s Energy Star (ES) program.
Some of these programs do provide a very limited number of free HVAC upgrades to homeowners. Depending on your situation it may be worth exploring these programs. However, the guidelines for qualifying for these programs can be stringent. Home Run Financing can be a great option to finance your HVAC when you don’t qualify for a government program. We make it possible to get air conditioning and furnace financing with bad credit, offering low rates and flexible repayment options.
