Upgrading your windows and doors have never been easier on your bank account than now, with all the financing options available today there is no reason to postpone installing impact windows and doors any longer. With the Florida Pace program being the more popular option there are a number of companies like Greensky that offer a different approach to financing.
For those that have never heard of the Florida Pace program it is basically a way of financing your home improvement project through your property tax, A lien on the property is recorded for the value of the improvements and is then assessed on the property owner’s property tax bills after the job is completed, it does not require a down payment. In order to get approved you need to have a significant home equity and a good history of paying your mortgage on time. The finance term can be as long as 30 years, this gives home owners the option of having very low monthly payments. The cons to the Florida Pace Program is that a superior lien will be recorded to your property, and some lenders will not back any property that they do not hold first lien status for. We always encourage our clients to do there research on the program before hand.
On the other hand a Company called Greensky offers a more traditional financing option where the loan is based on the clients credit, they have various plans from differed payment plans to no interest if paid before the promotion (usually 6-12 months) check with your dealer to see what they can offer you. We recommend this type of financing for the majority of our clients, even our cash buyers, it gives them some flexibility with there finances and allows them to hold on to they're cash and pay off the project little by little.
At the end of the day it all depends on your situation and shopping style, if you like to pay cash whenever you purchase big ticket items than by all means, it can play to your advantage in the long run, you will avoid interest rates and maybe even be able to negotiate for a lower price. If you have a questions in regards to financing your next home improvement project give our office a call.