Financing

We work with two lenders. GoodLeap handles unsecured home improvement loans with fast online approval and a soft credit pull that does not affect your score. Renew Financial runs our PACE program for homeowners who want financing based on home equity rather than credit score, repaid through the Hillsborough or Pinellas County property tax bill.

Usually yes. GoodLeap offers a soft-pull prequalification that does not hurt your score, so you find out your options in about 2 minutes. If that does not work, the PACE program with Renew Financial qualifies you based on home equity and not credit score. Many customers who were declined elsewhere have been approved through PACE.

PACE stands for Property Assessed Clean Energy. It is a state-approved program that funds energy-efficient HVAC systems, tankless water heaters, and heat pumps. You pay nothing down at install, and repayment is added as a line item to your property tax bill, usually over 10 to 30 years. Qualification is based on home equity, not credit score. Home Therapist handles the paperwork with Renew Financial on your behalf.

GoodLeap prequalifies most applicants in about 2 minutes with a soft credit pull. A full approval decision typically comes back in minutes. PACE through Renew Financial takes a few business days because of the property tax process. For same-week install on AC replacement or a failed water heater, GoodLeap is almost always the faster path.

A typical 2.5 to 3 ton Goodman HVAC install runs around $8,500 total, which comes out to roughly $112 per month over 120 months at a representative rate. A higher-efficiency Daikin Elite inverter system at $12,500 is around $165 per month over the same term. Exact payment depends on your approved rate, the lender, and the promotion available when we install. FREE estimate gives you real numbers before you decide.

The specific credit score needed to finance an HVAC system can vary widely depending on the lending institution and the specifics of the financing program. However, as a general guideline:

1. Excellent Credit (750 and above): With this score, you should have no trouble obtaining financing, often at the lowest available interest rates. 

2. Good Credit (700 – 749): Still very likely to obtain financing with competitive interest rates.

3. Fair Credit (650 – 699): Financing is possible, but interest rates may be slightly higher.

4. Poor Credit (600 – 649): Some lenders may approve financing, but expect higher interest rates. Microf is the best option for this credit range and below, click here to apply.

5. Bad Credit (below 600): It can be challenging to obtain financing, and if approved, interest rates will likely be high. Microf is the best option for this credit range and below, click here to apply.

Remember that while credit score is important, other factors like income level and debt-to-income ratio also play a significant role in lending decisions. It’s best to check with the specific lender or financing program for exact requirements.

Contact us to today to find the best option for you! (813)343-2212

In most cases, yes, financing typically involves a hard credit check. When a lender or financing company reviews your creditworthiness for a loan or credit decision, they usually perform a hard credit inquiry, also known as a hard pull. This type of credit check can slightly lower your credit score for a short period of time and will show up on your credit report.

A hard credit check gives the lender a full view of your credit history, allowing them to assess the risk of lending to you. It’s a common part of the process when applying for credit cards, mortgages, auto loans, and yes, HVAC financing.

However, some lenders may first do a soft pull or soft inquiry to give you an estimate or pre-approval. Soft inquiries do not impact your credit score and are not visible to other lenders on your credit report. But remember, a final approval usually still requires a hard pull.

It’s always a good idea to ask us what type of credit check they will perform and how it might impact your credit score. Understanding the process can help you make informed decisions about your credit.

At The AC Therapist, we’re committed to making HVAC services accessible to all our customers. We understand that credit checks can be a hurdle for some, which is why we’re thrilled to offer no credit check HVAC financing options, thanks to our partnerships with Wisetack and GoodLeap. These partnerships allow us to provide flexible financing solutions tailored to a wide variety of financial situations. We believe in creating a comfortable environment for everyone, regardless of their credit history. 

Contact us today to learn more about our hassle-free financing options and find a plan that suits your needs.

Qualification for plumbing financing generally depends on a few key factors:

1. Credit Score: A good credit score is often a primary criterion for eligibility. It indicates to lenders that you have a history of repaying debts and are likely to repay the plumbing loan.

2. Income: Steady income is crucial as it assures the lender of your ability to make monthly payments. Some lenders may have minimum income requirements.

3. Employment Status: Being employed or having a consistent source of income (like retirement benefits or self-employment income) is typically necessary. Lenders want to ensure you have regular income to cover the loan payments.

4. Debt-to-Income Ratio: This ratio compares your monthly debt obligations to your income. A lower ratio is preferable, as it suggests you have enough income to handle additional debt.

5. Residency Status: Some financing options may only be available to permanent residents or citizens of the country where the service is being offered.

6. Age and Identification: Applicants usually need to be of legal age to enter into a contract and must provide valid identification.

7. Property Ownership: In some cases, especially for significant plumbing projects, being a homeowner might be a criterion, as it implies stability and investment in the property.

It’s important to note that different lenders or plumbing companies might have varying criteria, and some may offer financing options designed for people with less-than-perfect credit. Checking with the specific provider for their requirements is always a good first step.

Yes and no, plumbing financing typically involves interest charges but there are 0% interest options as well. The interest rate is a crucial aspect of any financing plan, as it determines the additional cost you’ll pay over the principal amount of the loan or financing. Here are some key points to consider about interest charges in plumbing financing:

1. Interest Rate Variability: The interest rate can vary depending on the lender, your credit score, and other factors. Higher credit scores usually secure lower interest rates.

2. Fixed vs. Variable Rates: Some financing plans offer fixed interest rates, which remain constant over the life of the loan, while others might have variable rates that can change based on market conditions.

3. Impact on Total Cost: Interest charges will affect the total amount you pay back. It’s important to calculate the total cost of the loan with interest to understand how much you will be paying in total.

4. Promotional Offers: Some plumbing services or financial institutions may offer promotional financing with lower interest rates or even interest-free periods. However, be sure to understand what happens when the promotional period ends, as rates may increase significantly.

5. Annual Percentage Rate (APR): Always consider the APR, which includes the interest rate and any additional fees, to get a complete picture of the cost of the financing.

6. Early Repayment: Check if there are any penalties for early repayment. Paying off the loan early can save you on interest payments, but some plans might have prepayment penalties.

It’s crucial to carefully review and understand the interest terms before agreeing to a financing plan, as the interest charges can significantly impact the overall financial obligation.

Plumbing financing can typically cover a wide range of services, making it a versatile option for both minor and major plumbing needs. Here are some common types of plumbing services that can often be financed:

1. Emergency Repairs: Urgent issues like burst pipes, severe leaks, or backflow problems that need immediate attention.

2. Regular Maintenance: Regular maintenance services to ensure your plumbing system is running efficiently and to prevent future issues.

3. Installation Services: Installation of new plumbing fixtures, pipes, water heaters, or other major plumbing components.

4. Upgrades and Renovations: Updating old plumbing systems, remodeling bathrooms or kitchens, or installing more efficient and modern plumbing solutions.

5. Pipe Replacement and Repairs: Services involving the replacement or repair of old, corroded, or damaged pipes.

6. Water Heater Services: Installation, replacement, or repair of water heaters, including tankless water heaters.

7. Drain Cleaning and Repair: Addressing clogged or slow drains, including more extensive drain repair needs.

8. Sewer Line Services: Repairing, replacing, or installing sewer lines, which can be a significant undertaking.

9. Water Treatment and Filtration Systems: Installation of systems to improve water quality in your home or business.

10. Eco-Friendly Upgrades: Financing can also be used for installing environmentally friendly plumbing solutions, like low-flow toilets and showerheads.

This list is not exhaustive, as the availability of financing for specific services will depend on the plumbing provider and the terms set by the financing company. It’s always a good idea to consult with the plumbing service provider or the financing company to confirm if the service you need can be covered under their financing plans.

The repayment terms for plumbing financing can vary widely depending on the lender, the amount financed, and the specific financing plan chosen. Here are some general insights:

1. Short-Term Financing: Some plans may offer short-term options, which could range from a few months to a year. These are often used for smaller projects or emergency repairs.

2. Medium-Term Financing: Many financing plans fall into this category, with terms ranging from 1 to 5 years. This option is common for moderate to significant plumbing projects.

3. Long-Term Financing: For extensive plumbing work, such as major renovations or complete system overhauls, longer terms might be available, potentially extending up to 10 years or more.

The length of the repayment term will influence both the monthly payment amount and the total amount of interest paid over the life of the loan. Shorter terms generally mean higher monthly payments but lower overall interest, while longer terms spread out the payments, making them more manageable each month but increasing the total interest paid.

It’s important to choose a repayment term that aligns with your financial situation. Consider not only the monthly payment but also the total cost of financing when making your decision. Before agreeing to a financing plan, make sure to understand all the terms and conditions, including any penalties for late payments or early payoff.