You can pay off the loan amount at any point and you’ll only pay for interest that has already accrued. Finance company does not have any prepayment penalties.
Prepayments are first applied to interest that has accrued, and then applied to principal.
If the balance of the loan is paid in full by the promotional period end date listed on your monthly statement, you owe no interest. If the loan balance is not paid in full by the promotional period end date, you owe the amount of accrued interest on your most recent monthly statement, and you will have to start making monthly payments on your loan.
If you pay off your loan before the promotional period end date, you don’t owe any interest. If you don’t pay off your loan prior to the promotional period end date, you are able to pay off the loan amount at any point and you’ll only pay for interest that has already accrued. Finance institution does not have any prepayment penalties.
During the promotional period, all payments are applied to principal. After the promotional period is over, prepayments are first applied to interest that has accrued, and then applied to principal.
Home improvement financing through our finance institution dates are based on first payments to the partner. For roofing or windows/doors, we make our first payment to the partner as soon as the customer signs the contract. For siding or combo jobs, we make the first and only payment when the job is complete and the customer signs off that the job is complete.
60 days. You must sign your loan agreement within 60 days of receiving approval.
You will be given a log in, in which you can access 24 hours a day to view your loan balance and/or schedule a payment for the date of your choosing. If you would like to obtain a full payoff amount for a date up to 10 days in the future, please email customer service for the finance institution you were approved with.
In the credit approval process, you’ll be asked your individual “gross yearly income.” Please be as accurate as possible. If further clarification is required, you may be asked for “proof of income” through a W2 or a pay stub. (This verification only impacts a very small percentage of customers.)
No co-applicants are accepted at this time, but someone else in the household can apply if the original applicant is denied. Applicants must be listed as owners of the property.
You can re-apply after 30 days, or another member of the household can apply. Applicants must be listed as owners of the property.