Free Contractor Tool
Home Improvement Financing Calculator
Enter your project cost and financing program to see monthly payment options for GoodLeap, Service Finance, Sunlight Financial, and more — side by side.
Calculate Your Monthly Payment
Compare payments across popular home improvement lenders for any project amount.
Monthly payment
$123.34
Total paid
$17,761
Total interest
$5,761
| Program | Monthly | Total paid |
|---|---|---|
| GoodLeap — 6.99% / 12 yr | $123.34 | $17,761 |
| GoodLeap — 9.99% / 10 yr | $158.51 | $19,022 |
| Service Finance — 7.49% / 15 yr | $111.17 | $20,011 |
| Service Finance — 0% / 18 mo (promo) | $666.67 | $12,000 |
| Sunlight — 6.49% / 25 yr | $80.95 | $24,285 |
Monthly payment estimates assume fixed-rate installment loan with no origination fee. Actual rates depend on credit score, state, and lender program. 0% promo rate assumes balance is paid in full before promotional period ends.
Home Improvement Financing: What You Need to Know
No home equity required
Most contractor-offered financing is unsecured — no appraisal, no lien on your home. You qualify based on credit score and income. Approval decisions typically take 2–5 minutes during the sales appointment.
Same-day approval
Lenders like GoodLeap and Service Finance have contractor portals that let reps submit applications during the appointment. The customer sees a decision before the rep leaves — removing the biggest source of project delay.
Monthly payment often < old bill
For energy-efficiency upgrades like HVAC or solar, the monthly loan payment is often less than the monthly utility savings. That makes financing cash-flow positive from day one — the project pays for itself.
Promotional 0% programs
Many lenders offer 12–18 month deferred interest or true 0% promotional rates for qualified buyers. These are popular for smaller projects or when a homeowner expects a large cash inflow (tax refund, bonus) within the promotional period.
Contractor dealer fees
Lenders charge contractors a dealer fee (typically 3–10% of the loan amount) to offer subsidized rates. Lower rates = higher dealer fees. Contractors factor this into their pricing. Understanding this helps homeowners negotiate and compare total costs.
Rates vary by credit score
The rates shown in this calculator are representative programs. Your actual rate depends on credit score, state, loan amount, and lender. Borrowers with 700+ FICO scores qualify for the best rates. Ask your contractor which lenders they work with and what programs you may qualify for.
Are You a Contractor? Embed Financing in Every Proposal
The biggest objection in home improvement sales is price. SubcontractorHub's EasyQuote solves it by showing monthly payment options right inside the proposal — before the customer even asks. GoodLeap, Sunlight, Service Finance, and LightReach are connected directly. The customer applies, gets approved, and signs before your rep drives home.
Contractors using SubcontractorHub report 20–30% higher close rates when financing is presented at point of sale — because the customer sees $189/month instead of $14,000 upfront.
See How It WorksGoodLeap, Sunlight, Service Finance built in
Monthly payment shown inside every proposal
Customer applies during appointment — 2 min decision
No home equity required for most programs
Signed proposal + financing approval in one appointment
Common Questions About Home Improvement Financing
What financing options do home improvement contractors offer?
Most roofing, HVAC, and solar contractors offer third-party financing through partners like GoodLeap, Service Finance, Sunlight Financial, and EnerBank. These are unsecured installment loans — no home equity required. Rates typically run 5–12% APR with terms of 12 months to 25 years. Many lenders offer promotional 0% or same-as-cash terms for 12–18 months for qualified buyers. Contractors apply for financing on behalf of the customer during the sales appointment, and approval usually takes minutes.
Is 0% APR financing really free?
The customer pays no interest during the promotional period, but the contractor pays a dealer fee to the lender (typically 5–10% of the financed amount) in exchange for offering the 0% rate. This fee is a cost of doing business that contractors factor into their pricing. For the homeowner, 0% financing is genuinely no-cost if the balance is paid off before the promotional period ends. If not paid off, the rate often jumps to a high deferred interest rate.
Does financing a home improvement project hurt my credit?
Applying for financing typically involves a hard inquiry on your credit report, which may temporarily lower your score by a few points. Once approved and actively paying, on-time payments build your credit history positively. Home improvement loans from specialty lenders (GoodLeap, Service Finance) are installment loans — they don't affect your revolving credit utilization the way credit cards do.
What credit score do I need to qualify for home improvement financing?
Most home improvement lenders approve applicants with credit scores of 620 or higher. GoodLeap has programs starting at 600 FICO. Borrowers with scores above 700 qualify for the best rates (under 7% APR on long terms). Some lenders offer second-look programs for scores in the 580–620 range with higher rates. Your HVAC or solar contractor will typically run a soft check first to see which programs you qualify for before a hard inquiry.
Should I finance my home improvement project or pay cash?
If you have the cash available, paying outright typically gives the lowest total cost. However, many homeowners prefer financing even when they have savings — the monthly payment is often less than the utility savings (especially for solar or HVAC efficiency upgrades), making it cash-flow positive from day one. Financing also preserves liquidity for other uses. The decision depends on your rate, the project's value, and your personal financial situation.
Ready to Close More Jobs with Financing?
SubcontractorHub gives roofing, HVAC, and solar contractors embedded financing, on-site proposals, and a complete sales pipeline in one platform.
Book a Free DemoAll calculations are estimates based on historical information and should be verified by the user.