Should I Finance My Window Purchase?
Now is a good time to replace your windows, and you will save money in the future with new energy-efficient windows. Since you are most likely spending more time at home, you have probably been thinking about ways to save money and make your home more energy-efficient. Replacing old, single-pane windows should be on the top of your list. New, energy-efficient windows can improve your home’s curb appeal, make your home more comfortable, and reduce your energy bill.
Paying Options for New Windows
Obviously paying cash should be the first thing to consider. If you have been saving and have the extra cash to purchase windows, then you can avoid paying interest and fees. In these uncertain times, it is important you make sure you won’t miss that extra money.
If you have a home equity line of credit, you could use that account to pay for your windows. If you don’t already have a line of credit established and have a good payment history, you could apply for a line of credit or refinance, and release some money for the new windows. Make sure you check on the amount of time you have to repay it, what the interest rate is, and understand that you are putting your home up as collateral.
You could also use your credit cards to pay for the new windows and window installation. Since you already have the cards, you won’t have to wait to make the purchase. Keep in mind that the interest rates might be high. You should also calculate how much the windows will cost once you add up all of the interest you will have paid over the time it takes to pay it all off. It may not be the best option in the end, but do the math.
PACE Financing Options
If you live in an area where PACE financing is available, then this might be a good option for you. PACE stands for Property Assessed Clean Energy, and since windows can qualify as an upgrade that makes your home more energy-efficient, this means you can finance this home improvement project through PACE. The process to see if you qualify is simple, fast, and convenient. Keep in mind, eligibility is based on the equity in your property, and no credit check is required to see if your property is eligible. If you decide to proceed with this financing, PACE will then order a credit report to verify your underwriting eligibility, and they may also verify your ability to pay. The other good news is, depending on when your window project is completed, you might not be required to make a payment for up to 12 months or more. With PACE financing, you’ll be able to afford the new, energy-efficient windows and pay for them through your property tax bill. Keep in mind, if you are considering selling or refinancing your home in the near future, the balance may not be transferable or the mortgage company might require you to pay off the balance. The benefits of PACE funding include:
- Up to 25 Years Fixed Rate Financing – With PACEfunding you receive up to a 25 year fix rate financing plan with our respected bank partner.
- No Payments for Up to 18 Months – If you need sometime to generate funds to pay for your home improvement projects, we offer a no payment plan for up to 18 months!
- Affordable with Tax Deductions – Utilizing PACEfunding is affordable and the interest may be tax deductible.
- Approval Not Based on Credit Score – Approval by PACEfunding is not based on a credit score. All you need is equity in your home to qualify and Ability To Pay.
- 100% Financing, No Money Down – PACEfunding provides 100% of your financing assuming all equipment is eligible. We require no money down so you can get started with us today.
- Transferrable Upon Sale of Property – Payments for PACEfunding may stay with the property.
18 Month Financing Special Offer
We’re currently offering an 18-month financing special offer that you could take advantage of! You’ll get no interest and no payments for 18 months on approved credit! Give us a call to see if you’re eligible for this special offer!
An unsecured loan is a loan that does not require you to put up items you own, such as your car or home, as collateral to qualify for the loan. Approval for an unsecured loan typically requires an evaluation of your creditworthiness, income, and ability to pay.
As you can see there are many options to pay for your windows, so don’t wait to get started. Take advantage of the options by contacting California Energy Contractors and make your home more comfortable today. For window replacement contact California Energy Contractors by calling (855) 779-1413 to get a free estimate.