A/C Unit & HVAC Financing For Good & Bad Credit

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HVAC Financing - No Credit Check & Bad Credit

With many areas of the United States experiencing sultrier summers and chillier winters, there’s never been a better time to install a new heating, ventilation, and air conditioning (HVAC) system in your living space. But, depending on the size of your home and how many rooms in which you want to control the temperature, HVAC systems can be incredibly expensive. Fortunately, HVAC financing plans make it possible for people to purchase new heating and air conditioning systems even if they’re strapped for cash.

If you’re interested in learning more about home heating and A/C unit financing, here’s an overview of everything you need to know.

How does HVAC financing work?

In many parts of the US, an HVAC is not a luxury but a necessity. The weather can often be below freezing for long periods in the winter and hot and humid in the height of summer. Okay, not everywhere has both, but few areas have a truly temperate climate all year round. So when the HVAC goes phut, what do you do?

With a new system costing anything from $5,000 to $10,000 or even more, what do you do if you simply haven’t got the money put by. The only answer is to seek financing.

There are four main types of credit you can apply for:

Personal Loan

Taking out a personal loan is a common way of financing all sorts of expenditure. If you have a good credit rating and are happy about the repayments, a personal loan can be simple to apply for and one of the cheaper forms of finance. There will probably be an origination fee, but interest rates are likely to be competitive.

Credit Card

When you need a new air conditioning or heating, ventilation and air conditioning system, a credit card can be the simplest way of finding the money. Given a sufficient credit limit, there’s no problem, and you might benefit from cash back or a 0% introductory period. Just be aware that if you don’t pay it back quickly within an introductory period, you can quickly get into financial difficulty.

Home Equity

If your home has gone up in value since you bought it, you might qualify for a home equity loan. It is basically a second mortgage, and the security is provided by your home. This means the interest charged is likely to be rather less than that for an unsecured loan. Make sure there aren’t unexpected fees involved.

Like a credit card, a home equity line of credit (HELOC) is another option for those with equity in their homes. This is another case where your home is used as collateral, so interest rates should be low, but you could be in trouble if you default.

Rather than either of these, you might consider a flat cash-out refinance package which involves borrowing the money to pay off your original mortgage and borrowing enough extra to pay for the HVAC upgrade. Make sure you understand the fees involved before committing to such a move.

Loan Programs

You may be able to take advantage of a loan program such as that offered by the Federal Housing Administration. The FHA PowerSaver Loan program allows sums of up to $7,500 to be borrowed without using your home as collateral and covers “insulation, air and duct sealing, water heating, and upgrading or replacing heating and cooling equipment.”

Can You Finance a New A/C Unit?

Absolutely! Banks, personal lenders, and HVAC financing companies make it possible to pay for a new air conditioning unit over the course of several months or even years. It’s important to note, though, that only individuals who’ve demonstrated responsible use of credit in the past are likely to qualify for the best financing terms.

Can an HVAC system be financed?

There’s no reason why you can’t secure finance for a new HVAC system. You are improving your home, so a home equity loan is likely to be approved, and if you are eligible, it is unlikely a personal loan will be turned down. It makes sense to look for finance for such a purchase rather than using up all your savings. Just make sure the finance is affordable for you and your situation. Missed payments will have a negative impact on your credit.

How Can I Finance an A/C or HVAC Unit?

If you’re considering financing an A/C or HVAC unit, there are a number of routes you could take. Here are some of the most popular options.

  • Finance through the installer
  • Get a subsidized loan from your state of residence
  • Apply for a home equity loan to cover the cost
  • Charge it on a credit card
  • Apply for a federal grant if your income level is low

Can I afford a new A/C system or an HVAC system?

The affordability of a new A/C or HVAC system depends on your income and lifestyle. If you are already stretched financially, the extra burden of a loan might be too much. On the other hand, living without a temperature-controlled environment may not be an option. If your current system does fail, you may need to make sacrifices in other areas to pay for it.

How do I finance a replacement HVAC system?

The cost of an HVAC system depends on:

  • The equipment and sophistication of the system
  • Whether the whole system needs replacing or can the ductwork and so on be reused
  • The ease of installation

But whatever the details, it will likely be expensive, and most people won't be able to drop the cash in one go. That’s why many in this situation need to seek outside finance. 

How do I finance a replacement A/C Unit?

The same choices of finance are available for air conditioning units (A/C) as a full HVAC. Of course, the cost will likely be less, and you may not need to borrow so much. With this in mind, a credit card might be the simplest option if you expect to be able to pay off the amount quickly.

Do HVAC companies offer financing?

Due to the costs involved, many manufacturers and retailers offer their own finance packages or do so in partnership with a finance company. They don’t differ greatly from personal loans or credit cards, so check the details before signing.

Air Conditioning Financing Options Near Me

There’s no one-size-fits-all financing option for homeowners in the market for a new A/C or HVAC unit. Rather, the best payment option depends on your needs, your credit score, and how much interest you’re willing to pay. With that in mind, here’s a closer look at some popular options and how they work.

Personal Home Improvement Loans

Many modern lenders offer personal home improvement loans you can use to finance an A/C or HVAC unit. Here’s a look at three of the leading lenders and each of their advantages and drawbacks.


APR range 3.99% - 16.79% w/AutoPay1
Available loan terms 24 to 144 months1
Loan amounts up to $100,000
Time to fund As soon as the same day**
Fees Origination fee: None
Late fee: None
Prepayment fee: None
Credit needed 660+
Income needed n/a
Soft Credit Check? Varies
Best for Borrowers with good credit, long credit history, co-signers, debt consolidation, home improvements
Click “Check Rates” to apply to LightStream

» MORE: LightStream Personal Loans Review


APR range 9.95% — 35.99%
Available loan terms 24 — 60 months
Loan amounts $2,000 — $35,000
Time to fund As soon as the next business day*
Administration fees Up to 4.75%
Credit score needed 580; typical credit score is 600 — 700
Income needed No set income requirement stated
Soft Credit Check? Yes
Best for People with poor or bad credit, debt consolidation
Click “Check Rates” to apply to Avant

Among the internet’s leading lending platforms, Avant offers borrowers with less-than-stellar credit access to loans for HVAC units, whereas most banks would turn these applicants away.

  • Loan Amounts — $2,000 to $35,000
  • APR — 9.95% to 35.99%
  • Origination Fee — 4.75%
  • Time to Funding — Next day
  • Repayment Terms — 2 to 5 years
Pros & Cons
  • Avant is among the best for people with credit scores as low as 580
  • This lender charges late fees and administrative fees
  • Loan payments are flexible, and you only need an annual income of $20,000 to get approved
APR range: 34% – 155%
Available loan terms: 6 months to 5 years
Loan amounts: $1,000 to $10,000
Time to fund: Usually 1 business day
Origination fee: None
Credit needed: No minimum
Income needed: No minimum
Best for: Borrowers with poor credit
Click “Check Rates” to pre-qualify and receive a personalized rate.

NetCredit is an online lender that considers more factors than simply an applicant’s credit score when determining whether or not to issue them a home improvement loan.

  • Loan Amounts — $2,000 to $10,000
  • APR — 34% to 155%
  • Origination Fee — None
  • Time to Funding — 1 to 3 days
  • Repayment Terms — 6 months to 5 years
Pros & Cons
  • NetCredit is a great option for applicants with poor to average credit scores
  • Homeowners with decent to excellent credit scores will get better rates elsewhere
  • On-time payments with this lender can help homeowners with bad credit improve their scores


APR range 7.99% — 35.89%
Available loan terms: 36 and 60 months
Loan amounts: $1,000 — $50,000
Time to fund: One day
Origination fee: 1.5% – 6%
Credit score needed: 620
Income needed: n/a
Soft Credit Check? Yes
Best for: Those with a steady income
Click “Check Rates” to apply to Upgrade

Upgrade specializes in low, fixed-rate loans that borrowers can use for major purchases, home improvement, debt consolidation, or to refinance balances on existing credit cards.

  • Loan Amounts — $1,000 to $50,000
  • APR — 7.99% to 35.89%
  • Origination Fee — 1.5% to 6%
  • Time to Funding — 1 day
  • Repayment Terms — 3 to 5 years
Pros & Cons
  • Upgrade loans are a solid option for applicants with below-average to decent credit scores
  • Many borrowers choose Upgrade because the lender makes it easy to consolidate debt
  • You’re not likely to get approved if you have less than $800 left over at the end of each month

Credit Cards

Some individuals might choose to use a credit card to pay for a new HVAC unit, either because they don’t qualify for any other options or because they want to capitalize on the rewards credit card companies offer, such as points or frequent-flyer miles.

Pros & Cons
  • If you have good credit, you could qualify for a promotional APR of 0%
  • APRs with credit cards are typically far higher than personal loans and lines of credit
  • You could accumulate a tremendous amount of points or miles depending on the credit card

Lines of Credit

If you’ve developed a substantial amount of equity in your home, or if your personal bank account is in good standing, you may qualify for a home equity line of credit or a personal line of credit to cover the costs of an HVAC unit.

Pros & Cons
  • APRs on lines of credit are typically lower than rates with credit cards and personal loans
  • If you miss payments on a home equity line of credit, you could potentially lose your home
  • You could end up “underwater” depending on the value of your home and market conditions

Manufacturer Financing

Many HVAC manufacturers and installers offer their own in-house financing options, making it easy for homeowners to handle installation, maintenance, and financing all through a single company. But are these arrangements really a good deal?

Pros & Cons
  • HVAC companies are more likely to approve applicants with bad credit just to close the deal
  • Interest rates with manufacturers are generally higher than personal loans and lines of credit
  • Financing directly through the manufacturer or installer eliminates the middleman

Apply for an HVAC & A/C Loan

If you are seeking finance for a new HVAC or A/C system, we’re here to help. We compare hundreds of loans to offer you the best terms for your circumstances and needs. Click here to find the funding you need today.


Now that you know the basics of financing A/C and HVAC units, apply for a loan with any of the above lenders or the other companies featured on our site. You might even qualify for no credit check HVAC financing with the right lender. In any case, these financing options can help you and your family beat the heat in the summer and stay warm in the winter.

Ready to get pre-qualified for a personal loan?

Information used in this tool has been gathered from the lenders’ websites and others publicly available sources. While we do our best to ensure our information is up to date and calculations are accurate, all information is presented without warranty. If you find information or calculations you believe to be in error, please contact us. Estimated interest rate, APR, and other terms are not binding in any way. Your actual interest rate and APR will depend on factors like credit score, requested loan amount, loan term, and credit history. Only borrowers with excellent credit will quality for the lowest rate. All loans are subject to credit review and approval by our lender partners. When evaluating offers, please review the lender’s terms and conditions for additional details.

The operator of this website is not a lender, does not broker loans to lenders and does not make personal loans or credit decisions. This website does not constitute an offer or solicitation to lend. This website will submit the information you provide to a lender. Providing your information on this website does not guarantee that you will be approved for a personal loan. The operator of this website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product.

The offers that appear on this site are from third party advertisers from which PrimeRates receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). PrimeRates strives to provide a wide array of offers, but our offers do not represent all financial services companies or products.

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