As we’re inspecting an air conditioning system or heat pump, we often find that it’s in the homeowner’s best interest to upgrade their equipment. Of course, the biggest reason a homeowner tells us they’d rather risk it is the cost of a new air conditioner. But we’re here to tell you that a new air conditioning system very well may be within your price range.
Air conditioning installation is a necessity, so it’s not something you can put off for too long. But the full cost of the system is something you may be able to put off for a while, if you qualify for Ygrene financing.
This type of financing is different than the norm. There are no upfront payments and the fixed terms are based on your property equity, not your credit. The improvements Ygrene allows for make your home far more energy efficient, which means you save money over time. But the first thing you’ll want to know is…do you qualify?
Eligibility Requirements for Homeowners
First, you’ll have to check whether your property is within an eligible area for Ygrene financing. (All you have to do is type in your address to find out.) Then, you’ll need to apply online, which should only take a few short minutes.
Eligibility is based on your property equity! It has nothing to do with your credit history, current income, financial statement, or current FICO score. Many homeowners, even those who may not qualify for other financing plans, may be surprised to learn they qualify.
Eligible Equipment and Upgrades
We should point out that not all heating and air conditioning equipment qualifies for Ygrene’s financing. The purpose of Ygrene is to help make the world a greener place. That means that your air conditioning upgrade will only qualify if it truly is an upgrade—if it helps you to save money on air conditioning each month.
Some example of equipment upgrades that may qualify include…
- High-efficiency central air conditioning systems.
- High-efficiency heat pumps.
- High-efficiency ductless mini-split systems.
- Duct replacement.
You can get a list of qualifying equipment, along with efficiency ratings, from Ygrene, or you can speak to our friendly team to find out which upgrades may be eligible.
What Payment Plan Do I Qualify For?
Aside from basic eligibility requirements, you’ll likely want to know what kind of payment plan you can expect to qualify for. As we’ve mentioned before, it’s not based on credit score or personal finances, so flexible plans are available to many applicants—although it will depend on home equity and the types of upgrades you are planning to make.
Some parts of the payment plan are true for every homeowner.
- There are no upfront payments.
- You will make your first payment as part of next year’s property taxes.
- The terms of your repayment are fixed, meaning there are no balloon payments or surprises. It’s locked in for the long-haul.
Otherwise, flexible payment plans are available with terms for up to 30 years.
We work through YGrene financing in Pinecrest, FL! For more information, reach out to the team at Air On Demand.