What Are the Options for Financing for HVAC Replacement?

Need to replace your HVAC system but can’t pay for it all at once? There are several ways you can get financing for HVAC replacement, allowing you to spread out the cost over a number of months or years with affordable payments. 

Here are some of the HVAC financing options available to homeowners in Florida’s Treasure Coast area:

  • Personal loans. A personal loan is issued by a bank or other lending institution. A personal loan doesn’t require collateral; it’s money loaned to you personally based on your credit score, payment history, cash flow, and other factors.
  • Home equity loans. Your home equity is the difference between what you owe on your mortgage and what your house is actually worth. Lenders are often willing to loan homeowners money with the home equity value used as collateral.
  • HELOC. A home equity line of credit, or HELOC, is similar to a home equity loan. However, instead of borrowing a lump sum at one time, it gives you a line of credit you can borrow against at any time, giving you more flexibility and allowing you to potentially take on other home-improvement projects.
  • Home-projects credit cards. Although a regular credit card would typically have high interest rates, some cards offer introductory rates as low as 0%. As long as you pay off the HVAC financing during the promotional period, you can avoid paying high interest charges.
  • SELF loans. In Florida, you can apply through the Solar Energy Loan Home Improvement Financing Program for a SELF loan. These loans provide affordable financing for HVAC replacement to homeowners who might not easily qualify for other types of loans.
  • Financing through the manufacturer. Some manufacturers of HVAC systems offer financing. For example, as a Dave Lennox Premier Dealer, we can sometimes offer financing to customers who install a new Lennox system.

To learn more about financing for HVAC replacement and the options available to you, please contact us at NisAir Air Conditioning and Heating. We can help you figure out financing for HVAC replacement and install a new system that is perfect for your Treasure Coast home.

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