The pricing is the same for everyone who qualifies and is not based on your creditworthiness. The above options are fixed interest rates. This means you can pay off your loan faster than the loan term and not incur additional fees. Service Finance Company, LLC boasts no prepayment penalties. What we know to be true about Service Finance Company, LLC: What this all boils down to is what you can afford to add to your monthly budget. $200.34 is your estimated monthly payment for a term of 60 months, but with this option you do not have to start paying this until 6 months after the project has been completed. Let’s use $9,000 again as the project cost. In comparison to Option 1, you can see how the estimated monthly payment has increased due to the interest rate change and more importantly, the shorter loan term.ĭescription: 9.99% fixed rate, no interest/no payment 6 months, over 60 months $187.11 is your estimated monthly payment for a term of 60 months. The graphic above shows you how to easily calculate your estimated monthly payment in an easy to understand format.ĭescription: 6.99% fixed rate over 60 monthsįor consistency, let’s use $9,000 as the project cost for your home improvement project. $124.74 is your estimated monthly payment for a term of 120 months.Ī little over a hundred bucks per month sounds a lot more manageable than having to shell out $9,000 all at once. ![]() So, what does this all mean? How much am I going to pay per month? Let’s say, for example, your roof replacement costs $9,000. If you don’t see a plan that is manageable for you here, ask us if we can accommodate what you have in mind.ĭescription: 9.99% fixed rate over 120 months Here we’ll outline three of our most popular financing options. In the most basic terms, a payment factor is your interest rate broken down over the term of your loan.Ī service fee is the one time fee that goes to Service Finance Company, LLC for providing the financing to our homeowners. We feel it’s important to provide an easy, straightforward solution for your home improvement needs and we believe money shouldn’t hold anyone back.įirst, let’s go over some terms we’ll be talking about.Īn interest rate is a percentage of how much money the lender is charging you to loan you the money.Ī fixed interest rate means your interest rate will not fluctuate throughout the term of the loan. We’ve teamed up with Service Finance Company, LLC to offer our homeowners a chance to skip the bank. ![]() But that’s ok, because there are financing options for every homeowner who qualifies. Do you have cash lying around for your home improvement project? Most homeowners would say no.
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