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Best HVAC Loans to Consider

You might not often think about how much you rely on your heating, ventilation, and air conditioning system (HVAC), but what would you do without it? Whether you need to buy a new system or repair an existing one, it can get pretty expensive. Fortunately, there are loans to cover this expense.

HVAC Loans
Susan Guillory
Written by:Susan Guillory
Professional Intuitive Business Coach and Content Writer
HVAC Loans

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If you’ve never bought an HVAC system, it might surprise you to hear that one can cost between $5,000 and $10,000. If you don’t have that money available, how can you get the system your home needs?

There are unsecured online loans available that can cover these costs so that your family stays comfortable in your home. Where should you start? Our team of financial experts have reviewed and ranked more than 30 online lenders to help you get funded.

HVAC Loans

Top Picks for HVAC Loans

Best HVAC Loans for 2023 - Full Overview

Let’s look at some of those HVAC lenders who have passed our stringent requirements.

Best Overall

Upgrade - Best for Loan + Rewards Checking

5.94% to 35.97%
Loan Amount
Min. Credit Score
Not disclosed
Key Features
  • Funding as soon as the next day
  • Can be approved with fair credit
  • Variety of discounts on rates
Pros & Cons
  • Fast application process
  • Rewards checking available
  • Fixed rate and term
  • May charge origination and other fees
  • Can only borrow $50,000
  • Interest may be high, depending on qualifications

Not only can you use a personal loan from Upgrade for home repairs, including financing for HVAC replacement, but you can also get 2% cash back if you open a rewards checking account. Being able to earn 2% back can offset what you pay in interest on your HVAC loan.


Main Features

With Upgrade, you can borrow up to $50,000 and receive your funds the day your application is approved. You can choose your terms, from 36 to 60 months, and will have a fixed payment amount for the life of your loan. Interest rates range from 5.94% to 35.97%, depending on your qualifications. There is also an origination fee of 2.9% to 8%.

To qualify for an HVAC loan with Upgrade, the lender will look at your credit score, credit usage, and history. Also, you must be a U.S. citizen or permanent resident to be 18 years old or older; some states require you to be 19 or older, have a verifiable bank account, and an email address.

Upgrade offers a speedy application process and same-day funds if you are approved. Home improvement loans can be used for home repairs, renovations, appliances, and more, and this investment can help you add value to your home. And if you’re looking for a bank account as well, Upgrade can offer one with 2% cash back.

AmOne - Best for Multiple Loan Offers

Loan Amount
Min. Credit Score
Key Features
  • Variety of personal and business loans
  • Fast application process
  • Loans are available for borrowers with low credit scores
Pros & Cons
  • Funds delivered within 24 hours of approval
  • All credit ratings are eligible
  • One application nets multiple loan offers
  • Rates and terms may vary from one lender to another
  • May receive marketing email and calls from lenders
  • Some rates may be high, based on qualifications

Want to compare offers for HVAC loans but don’t have time to shop around? With AmOne, one application will give you multiple options from well-respected lenders including Marcus by Goldman Sachs, Payoff, and Upstart. Loans can be used for a variety of purposes, including home improvements like installing a new HVAC system. And whether you have excellent credit or poor, there are many options available to you.


Main Features

AmOne lenders offer up to $50,000 in unsecured loans, which do not require collateral. AmOne will match you to the loan offers you qualify for based on the details you provide in your application.

Because qualification criteria varies depending on each lender’s requirements, there is no single set of criteria for applicants. In the application process, you will be asked about your job and salary, whether you own or rent your home, and personal details like your address. A loan specialist may reach out to discuss your options with you.

If you like the idea of having access to multiple offers for an HVAC loan with just a few minutes of effort on your part, AmOne could be the solution you’re seeking.

Best Egg - Best for Low Interest for Good Credit

5.99% – 35.99%
Loan Amount
Min. Credit Score
Key Features
  • Wide range of loan amounts available
  • Fast application process
  • Direct payments to creditors as an option
Pros & Cons
  • Low interest rates available
  • Positive customer reviews
  • Low credit score requirements
  • Low credit scores may get higher interest offers
  • Origination fee charged

If you’ve worked hard to improve your credit, you want to qualify for an HVAC loan with the lowest interest rate possible. Best Egg personal loan interest rates start at 5.99% for those with excellent credit. That means you spend less to borrow money to install that HVAC system, which can in turn make your home worth more money!


Main Features

With Best Egg, you can borrow up to $50,000 for your HVAC needs. Loan repayment is either 36 or 60 months. Interest rates range from 5.99% to 35.99%. There is an origination fee of 0.99%–5.99% with these personal loans.

To qualify for the lowest interest rate, you need a FICO® score of at least 700 and a minimum income of $100,000.

If you have good credit, there’s no reason you should pay more than necessary for your HVAC loan. Interest rates can vary wildly from one lender to another, but Best Egg is known for offering fair rates to those that qualify.

Discover Loans - Best for Flexible Payment Terms

Loan Amount
Min. Credit Score
Key Features
  • No origination fees
  • Nine month deferment period
  • Direct payments to creditors with debt consolidation loans
Pros & Cons
  • Flexible payment options
  • Same-day decisions on applications
  • No origination fees
  • Co-borrowing is not permitted
  • Can only borrow up to $35,000

You may be familiar with Discover credit cards, but did you know the company also offers personal loans? These loans can be used for many purposes, including home improvement like HVAC systems. Unlike most of the other lenders on this list, Discover offers loans with terms up to 84 months, which gives you more time to pay off that HVAC loan. It also offers other free services to customers, including access to FICO scores and a tool that helps remove your personal information from people-search websites.


Main Features

For those who would like to take longer to repay their HVAC loan from Discover, loan terms are available up to 84 months. Borrowers can get from $2,500 to $35,000, and there are no origination fees. Interest rates range from 5.99% to 24.99%.

To qualify, you must be a U.S. citizen or a permanent resident of 18 years or older. You must also have a household income of $25,000 or more.

Not everyone wants a loan that has to be repaid in three years. With Discover, you can choose your repayment period up to 84 months, which can lower your monthly payment and keep you within your budget.
 sofi review

SoFi - Best for High Value Loans

6.99% to 21.78%
Loan Amount
Up to $100,000
Min. Credit Score
Key Features
  • No origination, prepayment, or late payment fees
  • Joint applications accepted
  • Offers .25% discount for autopay
  • Borrowers up to $100,000
Pros & Cons
  • Same-day funding
  • No fees
  • Fixed monthly payments
  • Bad credit scores may get high interest rates
  • Interest higher than other options

If $50,000 isn’t enough to cover your HVAC installation and other home remodeling needs, consider a loan with SoFi. With loans up to $100,000 and no collateral required, SoFi is a great option for homeowners, no matter what their credit score. SoFi also offers a wealth of other financial tools, from investing to banking, insurance, and student loans. Members also get access to financial planning, career coaching, and other perks.


Main Features

SoFi offers unsecured personal loans loans of $5,000 to $100,000. Interest rates range from 6.99% to 22.28%, and there are no origination or prepayment fees. You can pay off your loan over two years all the way up to seven years.

SoFi even offers unemployment protection: if you lose your job, you may be able to modify your payments temporarily, and SoFi offers career coaching services to help you find a new job.

SoFi requires the following of applicants: You must be the age of majority in your state, which is typically 18 years old; You must be a U.S. citizen or permanent resident; You must be employed or have sufficient income from other sources.

For those who want to borrow more money than other lenders on this list provide, SoFi has a lot to offer. In addition to providing loans up to $100k, SoFi offers tons of other perks and services you may find useful.

ZippyLoan - Best for Bad Credit

Loan Amount
$100 - $15,000
Min. Credit Score
Key Features
  • Borrow as little as $100
  • Get funded in one day
  • Qualify with poor credit
Pros & Cons
  • HVAC financing bad credit loans available
  • Multiple offers from different lenders
  • Interest rates may be high
  • Limit of $15k on loans

If your credit has taken a hit, maybe because you made a few late payments or filed bankruptcy, you should still be able to get an HVAC loan without issue. ZippyLoan offers financing to borrowers with every type of credit, including those who are working to rebuild their credit. After filling out a five-minute application, ZippyLoan will connect you to multiple lenders, many of whom will loan to borrowers with bad credit. After signing your loan documents, your HVAC loan funds will be deposited into your bank account in as little as one business day.


Main Features

ZippyLoan connects you to lenders who will lend from $300 to $15,000. Interest rates range from 12% to 35.99%, which is on the high side. However, even if you have bad credit, you may qualify for loans with different lenders. Loans have repayment terms of six to 72 months.

ZippyLoan doesn’t list criteria to qualify, since each lender will have its own requirements. Expect your credit score range, income, and existing debt to factor into the offers you receive.

Having bad credit shouldn’t keep you from getting the financing you need to buy an HVAC system. With ZippyLoan, you can find several loan offers from different lenders who are willing to loan to you, regardless of your credit.

PenFed - Best for Credit Union Members

4.99% to 17.99%
Loan Amount
Min. Credit Score
Not disclosed
Key Features
  • Low interest rates
  • No origination fees
  • You can apply with a co-borrower
Pros & Cons
  • Low interest rates
  • More financial services and products
  • No fees
  • Must be member of credit union
  • Credit requirements may be high

Credit Unions like PenFed offer more than traditional online lenders or banks. Not only can you get a personal loan for your HVAC at a low interest rate, but also you can open a high-yield savings account, checking account, or credit card, and get low rates on mortgages and auto loans.


Main Features

PenFed offers personal loans up to $50,000. While you do not have to be a PenFed member to apply for a loan, you must become one to accept a loan offer. Membership is free. Loans must be repaid over no more than 60 months, and interest rates are a low 5.49%-17.99%.

PenFed doesn’t list its requirements for personal loans, though the lender likely considers your creditworthiness and credit usage, as well as income, to determine eligibility.

Being a member of a credit union like PenFed comes with many perks, including low-interest unsecured loans. If you’re looking for a financial institution that can offer more than just an HVAC loan, consider PenFed.

FreedomPlus - Best for Easy Application Process

7.99% to 29.99%
Loan Amount
Min. Credit Score
Key Features
  • Discounts for consolidation loans
  • Fast funding turnaround
  • Co-borrowers and co-signers allowed
Pros & Cons
  • Fast application
  • Speedy funding
  • Choose your payment date
  • Rates may be high
  • Origination fee

You don’t have time for a complicated HVAC loan application, and you won’t find one with FreedomPlus. The lender offers a quick and easy application process and will get you your money within a few days. FreedomPlus connects you with a loan specialist who can walk you through your loan options to make the best decision for your financial needs.


Main Features

FreedomPlus offers loans of $7,500 to $50,000 you can use for your HVAC system or anything else. Interest rates are 7.99-29.99%, and there is an origination fee of 1.99% to 4.99%, depending on your loan terms. Repayment terms are between two and five years.

You will need a credit score of at least 620 to qualify. FreedomPlus may look at your credit usage and income as well to determine eligibility.

If you need money fast for your HVAC and don’t have time to mess with a long application, check out FreedomPlus.

How to Choose the Best HVAC Loan?

With so many unsecured online loans out there, it can be challenging to know which is the best for you. If you’ve never taken out a loan, you can use the following list of criteria to select the lender that offers what you need in an HVAC loan.

Consider the following factors: 

  • Loan Features: The lender should offer the amount you need to borrow, with terms you like.
  • Interest rates and fee: Each lender will offer different interest rates and fees, so compare before applying.
  • Application process: Some applications are short, while others are more in-depth. Some lenders fund loans quicker than others.
  • Qualification process: What’s required to qualify? Is there a certain credit score you need? Do you need a cosigner?
  • Customer support: Look for a lender who is easy to reach through a variety of communication channels, including phone, email, and chat.
  • Online user reviews: Look on independent review sites like Trustpilot to see what others have to say about a lender.
  • Perks and Bonuses: Does the lender offer other benefits like payment flexibility, advertising transparency, or advanced technology?

Best HVAC loans - Feature Comparison

Company NameEst. APRMin. credit scoreLoan AmountLoan term
Upgradea5.94-35.97%560Up to $50k36-60 months
AmOnevaryNo minimumUp to $50kvary
Best Egg5.99-35.99%550Up to $50k36-60 months
Discover5.99-24.99%UnlistedUp to $35k36-84 months
SoFi6.99-22.28%No minimumUp to $100k24-84 months
ZippyLoan12-35.99%No minimumUp to $15k6-72 months
PenFed5.49-17.99%UnlistedUp to $50k12-60 months
FreedomPlus7.99-29.99%620Up to $50k24-60 months

Why Finance Your New HVAC System?

Is it better to pay for your HVAC system with cash or finance it? Here are a few reasons why you might want to consider an HVAC loan.

  • Receive Competitive Rates: The better your credit score, the lower the interest rates you’ll qualify for.
  • Make Convenient Monthly Payments: Knowing your monthly loan payment will always be the same helps you budget for monthly expenses.
  • Protect Your Savings Account: Taking out a loan ensures you always have money in your bank account for a rainy day rather than wiping out your savings to cover your HVAC costs.
  • Increase Your Home’s Value: Investing in a new HVAC system is investing in the value of your home. You may increase its value with this upgrade, which can help you sell it for more in the future.

Methods of HVAC Financing

You have a few options when it comes to HVAC financing. Consider which is the best for you.

  • HVAC Loans: These are personal unsecured loans that can be used for home improvements like HVAC upgrades.

-       Pros: Typically you can borrow up to $50,000.

-       Cons: Interest rates may vary from one lender to another. Bad credit may result in a higher interest rate.

  • Home Equity Loans: These loans use your home equity as collateral for the loan.

-       Pros: Because it’s a secured loan, you may get lower interest rates.

-       Cons: If you can’t pay back the loan, you put your home at risk.

  • Home Equity Lines of Credit: With a line of credit, you are approved for up to a certain limit, based on the equity you have built in your home.

-       Pros: Only pay back what you borrow. Borrow as many times as you need.

-       Cons: If you can’t pay back the line of credit, you put your home at risk.

  • Company Financing: Some HVAC companies may offer financing directly.

-       Pros: Easy to get since you’re already working with the company.

-       Cons: You can’t shop around for a better rate.

  • Credit Cards: You can also use a credit card to charge the HVAC expense.

-       Pros: You can use a credit card you already have.

-       Cons: Interest rates are typically higher than other options.


Tips for Making Your HVAC Purchase More Affordable

Investing in an HVAC system is a big deal and shouldn’t be taken lightly. Here are a few things to consider that may help you save a little money in the process.

Take Advantage of Grants and Tax Credits

State and federal governments offer grants for low-income homeowners and tax credits for installing energy efficient HVAC systems. See what you may qualify for and you may be able to cut down on your total cost.

Look for Special Offers and Rebates

Companies regularly offer purchase incentives that reduce the overall cost of the system. When shopping for an HVAC system, see if any providers are offering deals or rebates.

Understand HVAC Pricing

Know how much your new HVAC will cost so you’re not borrowing more than you need.  It’s worth a little time spent investigating options for your HVAC to make sure you get a system that will last for years but also that is affordable and fits your needs.

The HVAC system you install in your home should last you 10 to 25 years, and it’s an important investment in your home that can increase its value. That being said, it’s important to not necessarily buy the cheapest system you can find. If paying for your HVAC is a concern, find a lender who offers HVAC loans at an affordable rate so that you get the system that’s best for your home without draining your savings.

Frequently Asked Questions(FAQ)

How much does it cost to repair or replace an AC unit?

Pricing will vary based on type of equipment being installed, existing equipment, type of installation, et cetera, but generally you can expect a central air conditioning unit to cost $1,200 to $4,500.

Repairs may cost less than that, but consider whether it would be more cost-effective to replace the unit if you run the risk of needing regular repairs in the coming years.

How can I afford a new air conditioner or furnace?

If you can’t afford to pay for a new air conditioner or furnace or any other HVAC system out of pocket, there are HVAC loans you can take out to cover these costs. There are loans for people with every type of credit, though if you have bad credit, you may pay a higher interest rate on the loan.

Can you finance a new A/C unit?

Yes, there are personal unsecured loans you can take out that will cover the cost of a new air conditioner and installation.

How does HVAC financing work?

HVAC financing is typically offered through an unsecured personal loan that can be used for any type of home improvement or repair. Once you find a lender that offers rates and terms you like, you apply for the loan. Once approved, you sign the loan agreement and receive the funds in your bank account. The monthly payment will be deducted from your account over the term of the loan, which is often anywhere from two years to five years.

Can I get HVAC financing with bad credit?

Yes. There are some lenders who offer HVAC loans to people with bad credit. Keep in mind that you may only qualify for higher interest rates on these loans. Shop around to find the best rate that you qualify for.

Do HVAC companies offer financing?

Some HVAC companies offer their own financing options. While these can be convenient because you don’t have to shop around for a loan, you are also stuck with the rate they offer. It may be wise to apply for a loan elsewhere so you can compare the offers and rates.

What credit score do you need to finance an HVAC system?

Credit score requirements will vary from one lender to another. Some have high credit score requirements and offer low interest rates, while others are willing to lend to borrowers with bad credit scores. Find out what the credit score requirements and other criteria to qualify for a loan are before applying.

How do I find HVAC financing near me?

There are many online lenders who offer HVAC financing, including those we’ve vetted in this article. It’s smart to apply with a few lenders so you can compare rates and terms to ensure you get the best deal possible.

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