Having a working and efficient air conditioner in Florida is not a commodity, it is a necessity! But the truth is when your HVAC breaks down and you need to replace it, it can cost quite a bit of money. Wondering how you can pay for the new AC system that you desperately need in this Florida heat? Here are some ideas on how to pay for a new system and keep your cool this summer.
Not all air conditioning companies offer financing options, but Super Heat & Air does! We offer financing for well-qualified buyers in Tampa Bay and a new energy-efficient AC system can be yours with zero percent interest options with approved credit.
Home Equity Loan
A home equity loan offers fixed interest rates, fixed monthly payments, and a fixed repayment timeline and is secured by the equity in your home. Be warned: this means that if you fall behind on your payments, your home could be foreclosed on.
Typically, the amount that you can borrow with a home equity loan is around 85% of your home’s value. If you are looking to buy a new AC unit, this might not work for you unless you have a considerable amount of equity in your home.
On a more positive note, the interest that you can qualify for may be lower since a home equity loan is a secured loan, and might also be tax-deductible.
The federal government’s office of Housing and Urban Development ( HUD) has programs that are aimed at encouraging private lenders to offer loans for home improvements. These are called Title 1 loans, and they are insured by HUD. Title 1 loans can be as much as $25,000, but you can get smaller loans as well.
The HUD website lists lenders in each state that participate in the program.
If you decide to put the cost of your new HVAC system on a credit card, look for a balance transfer offer. In many cases, it is possible to get an offer with zero interest for a year. Be sure to get it paid down or paid off completely before the zero interest period is over though, as interest rates may skyrocket at the end of the interest-free period.
Finance a New HVAC System with Super Heat & Air
A new air conditioning system is a huge investment, so it is wise to consider all your options if you don’t have the money in an emergency fund or savings account. While it’s never the right time for an HVAC breakdown, Super Heat & Air is ready to help you secure financing to pay for your new unit install. From our own financing options to PACE financing and possible HUD loans, there is help out there.
We are here to help! Call Super Heat & Air today to discuss HVAC financing options today at (813) 355-0288!