Financing has been available for years on energy efficient window, doors, insulation, home appliances, furniture, computers, and much, much more. Why not for geothermal heating and cooling systems? Among so many other benefits, a geothermal system installed in a home also creates positive cash flow for families, making it easier to pay your monthly bills.
Well, one bank finally gets it. For years, Admirals Bank has offered Title I Home Improvement Loans to homeowners installing solar panels and windmills. Now they’ve added geothermal to their fixed rate loan program with flexible loan terms up to 20 years.
And the loan process isn’t difficult. They’ve made it easy to apply with a simple one-page application or an on-line form. Most approvals are granted in about one business day. The money is then sent directly to the homeowner before the project is started.
Here are a few of the surprising benefits of this loan program that you rarely find with other financing options:
- >Â No equity or appraisal required
- >Â 100% up front funding (money is disbursed before the work begins)
- >Â No prepayment penalties
- >Â Flexible loan terms up to 20 years
- >Â Fixed rates
- >Â Interest may be deductible (consult your tax advisor)
- >Â Up to $40,000 available with approved credit
Whether you’ve put off installing that geothermal system until you have the money in hand, or you’re looking at geothermal for the first time, look no further! Yoder Geothermal has partnered with Admirals Bank to offer financing to qualified homeowners.
Call Yoder Geothermal at 330-852-4342 or visit them on the web at YoderGeothermal.com.
Total environmental comfort is only a call or click away!
I think one of the reasons why geothermal systems are slow to take off in the USA is because people are just not aware of the incentives available. In addaition to favorable loans from the bank you mention, there is a generous federal tax incentive and plenty of state and municipal incentives. If more knew about these as a package, more would install.