pure air in your home

3 Resources That Can Help With Air Conditioning Financing

by Feride Halma

Access to a functional air conditioning system is a must for most modern families. Without a quality AC, the temperature inside your home could become dangerously unbearable. However, the cost of installing a new air conditioner can be restrictive for some families.

Fortunately, you have some resources available to help you finance your new AC system so that you can spread the cost of the system out over time.

Try turning to one of these resources if you need help with air conditioning financing.

1. Your HVAC Installer

Many HVAC installers understand how difficult it can be for homeowners to come up with the total cost of a new air conditioner in one lump sum payment. In order to help ease the financial burdens of their clients, some HVAC installers offer in-house financing.

You can take advantage of this financing to help you make your AC system more affordable. Be sure that you verify the interest rate and total number of months your AC purchase will be spread over.

Knowing this information will help you make the most affordable choice when it comes to financing your air conditioner.

2. Your Local Bank

If you have a good relationship with your local bank or credit union, you may be able to turn to these financial institutions for help when you need to finance the purchase of a new air conditioner.

Many banks and credit unions offer home improvement loans that are designed to help fund major projects like the installation of a new air conditioner. If your financial institution doesn't have a home improvement loan option, you can always apply for a personal loan to cover the cost of your AC purchase. 

3. The Federal Government

Special loans are available to homeowners through the federal government. These loans have very strict eligibility requirements, but they offer low interest rates and competitive terms.

The application process may take some time to complete, so bear in mind that the installation of your new AC system could be delayed if you opt to turn to the federal government for help.

Any delays that you experience in the processing of your application and the installation of your AC system when working with the federal government can be justified by the significant amount of money you could save in interest costs over the life of your HVAC loan.

Financing is available when purchasing a new AC system. You just have to know where to look for reliable financial assistance.