(618) 408-1446

Financing Your New HVAC System

Young homeowners sit at their kitchen table with an open laptop, a pot of coffee, and a calculator. They are stressing about how to afford their bills, including one for installing a new HVAC unit in their Caseyville, IL home.

Young homeowners sit at their kitchen table with an open laptop, a pot of coffee, and a calculator. They are stressing about how to afford their bills, including one for installing a new HVAC unit in their Caseyville, IL home.


Financing a new HVAC unit can be difficult for anyone, especially a first-time homeowner. The cost of installing a new HVAC system varies depending on the following:

  • The type of equipment being installed, including single-stage, two-stage, multi-stage, variable speed, geothermal, etc.
  • The existing equipment, such as ductwork, outdoor piping
  • And the ease of installation, including the type of install—new install vs. retrofit

HVAC financing is a large expense for most people, and paying out of pocket is usually not an option. However, an HVAC system is essential for every home, not only to keep it comfortable, but also to keep it safe. In the Midwest, we experience both intense summers and harsh winters, so we need our units to heat and cool our homes effectively. Thankfully, there are numerous ways to finance the HVAC system that is best for you. Our experts at Morrison Plumbing have some helpful tips about your options.

Credit Card Companies

Many people already have credit cards at their disposal and they use them to cover all kinds of expenses. When used responsibly, credit cards are a great way to purchase the goods and services you need now and earn credit by paying off the bill promptly. We advise consulting with your current credit card company about charging a larger purchase, like an HVAC system, to your card. Just keep in mind that higher interest rates are a possibility.

Utility Companies

When you need to purchase a new HVAC unit, utility companies can also help by charging monthly payments for your new system to your electric bill. They frequently offer low-interest rates if you select energy-efficient systems. This is a great option to consider for homeowners, since you’re already using your utility company and paying them monthly. This would just be an additional payment and if the rates are low, this might be your most affordable option to finance your HVAC unit. If you have questions, contact our team today.

A young woman smiling and holding up three different credit cards. With these, she can purchase a new HVAC unit for her home in Caseyville, IL.

Home Equity

Borrowing against your home’s equity is a common way to finance home improvements. This option has lower interest rates and is tax deductible, but it comes with risks. If you fall behind on your payments, you may lose not only your HVAC system, but also your home. If you trust that your financial situation is stable and your job is secure, this can also be an advantageous option, considering the lower interest rates. It’s worth considering and discussing with the rest of your household.

Private Lenders

You can also get a loan from a private lender, such as a bank or a credit union. The interest rates and maximum loan amounts will vary, but many banks offer low-interest rates on these types of loans. Your deal will depend on which institution you go through and what the representatives are able to offer you. This is a worthy option to consider, as banks and credit unions specialize in arranging loans for trustworthy clients. With any other these options, you just have to make sure you can stick to the established monthly payment.

Two young homeowners meet with a bank representative to apply for a loan so they can afford a new HVAC unit for their Caseyville, IL home. The two men are shaking hands, confirming their deal.

Loan Programs

Another option we recommend would be applying for a loan. There are loan programs, such as the FHA’s Power-Saver Loan Program, that allow you to borrow up to $7,500 without having to put up your home up as collateral. To participate, you must have home equity. Discuss your options with the representatives and see what each loan program has to offer before making your decision.

Heating Coupons & Special Offers from Morrison

Of course, we highly recommend taking advantage of the deals we offer at Morrison Plumbing. We can provide heating coupons, special deals, free proposals, 0% interest rates, and affordable services, like tune-ups and diagnostics. We want to offer you the best deal to ensure your satisfaction with our company and secure the comfort level in your home. We want to earn your business as well as your respect. Let us collaborate with you to find the best option for your home and family. Contact our team of experts today to discuss our excellent heating offers and all the great ways you can save on your new HVAC installation!


All of these options could benefit you and your household. We invite you to consider each and compare rates to make an informed decision about what option is best for you. When you need Heating services, trust the experts at Morrison Plumbing, Heating & Air. Our technicians have the skills, knowledge, and tools to fix most heating problems on the spot. We are committed to providing essential home heating services you can depend on near you in the Caseyville, IL area. If you’re looking to install or replace your heating system, we have a team of professionals designated for that! Contact us today to see what flexible financing options we provide. We take pride in being a respected provider of home heating services in the community. We are dedicated to providing 100% satisfaction on all repairs, maintenance, and installations of the heating systems we work on. Our promise to you is to perform every heating installation service quickly, correctly, and at an honest price. Call us today at (618) 226-8933.

Skip to content