Summer is the worst time for you to experience a breakdown air conditioner/heat pump with no money to pay for a replacement. Here are seven different places to help you keep your blood from boiling and finance a new air conditioning/ heat pump unit.
1. Ask the company who is installing the unit if they offer financing. It’s often times a quick turn-around for an approval. Different companies offer different services, so never assume you already know their policy.
2. Find out if your state offers special energy efficiency loan programs. The Tennessee Valley Authority has partnered with Energy Finance Solutions to provide financing for their homeowner customers who participate in its energy right® program. Homeowners may use this loan program to finance their energy efficient air conditioning units. Visit http://www.energyfinancesolutions.com/main/homeownerstennessee/title/Tennessee. for more information and eligibility requirements.
3. Try borrowing against the equity in your home. Talk to your bank about using your home to secure a loan with a lower interest rate. However, this route might be time-consuming from start to finish.
4. Your city government might be a source of funds to finance your loan. Certain cities offer qualified homeowners low-interest loans for improvement projects. Check your city government’s website, or call your local utility company to see if they have information about home improvement loans.
5. The USDA Rural Development has programs to ensure the homeowners in rural American have access to the financial resources they need to maintain their home in livable condition. Visit http://www.rurdev.usda.gov/TN-Home-Repair-FAQ.html.
6. Your friend or family member might be willing to loan you money if there is a legal and noted document in place to secure their money and relationship with you. These companies offer the services you are looking for:
7. Look for a credit card that offers a balance transfer offer and a zero-interest loan for a year. Beware: pay off at least the bulk of the loan (if not its entirety) by the end of the interest-free rate time period to escape sky-high interest build-up.