Important Documents when Applying for HVAC Financing

by | Nov 30, 2016 | Air Conditioning


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Do you know that getting financing for air conditioning is straightforward and painless? HVAC financing companies have minimal requirements for financing so many people qualify for the loan. Stores that sell air conditioning equipment partner with lenders who loan their cash to customers, who want to either repair, carry out maintenance service or replace their units.

When looking for financing for your air conditioning, talk to different companies so that you may have a feel of the basic requirements, interest rates and terms of service. People with the right documents stand a good chance to qualify for the loan at a favorable interest rate and have a variety of options to choose from when it comes to financiers.

For you to qualify for the financing, you need the following documents:

*Pay stubs – If you are employed, make sure you have pay slips for the last three months. For self-employed people, your tax returns or deposit receipts will serve as proof of income. If you have listed anyone else on the loan, they will also need to provide proof of income.

*Letters of reference – This is required if your credit score is poor or minimal. References from employers or utility companies are used to prove your financial responsibility and consistency.

*Credit reports – The lender will look at your credit score to determine if you are eligible for the loan. If you are eligible, your credit score will determine the amount you are eligible for and the interest rate. To be on the safe side, go through your credit report to make sure there are no errors. If there are errors, address them before submitting your report to the lender. Make sure your loans are up to date and pay down any revolving debt that you have and your credit cards.

In addition to the three documents, we require you to have a price quote for the system. Consider the requirements of your home or office before deciding on the unit. Contact us at Microf for top-tier air conditioning financing today.

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