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Mar 16 2021

Illinois Program Could Help Finance Your New Furnace 

When your furnace isn’t working anymore, there’s only so much that repairs can do, especially if your furnace is between 10 and 20 years old (or older). But buying a new furnace may not be an expense you’re ready for, even if you know that a new furnace is what your home really needs. At Van Drunen Heating & Air Conditioning, we are committed to helping our clients get what they need, and are excited to provide more information about an Illinois program that could help you to finance your new furnace. Here’s what you need to know–

The Illinois Energy Efficient Loan Program

Upgrading to a more energy-efficient furnace–whether because you have to because your furnace is no longer working or simply because you want to improve your energy efficiency–will decrease your energy consumption, reduce your utility bills, and save you money. The Illinois Energy Efficient Loan Program helps customers to make energy-efficiency improvements in a way that’s affordable. Here’s how the program works:

  • Customers pay for their energy-efficiency upgrade (i.e., a new furnace) through a charge on their monthly utility bill
  • Borrowers can finance between $5,000-$20,000
  • There are no additional fees or closing costs
  • It is a fixed-rate, low-interest loan of 4.99 percent interest for between one and 10 years
  • Customers can use the loan to finance 100 percent of installation costs in addition to equipment costs
  • There is no prepayment penalty so borrowers can pay the loan in full at any time
  • The loan is an unsecured loan, which means that borrowers don’t have to put up any collateral in order to be approved

In order to be eligible for the loan, the most important detail is the installation of a high-efficiency appliance. The loan can only be used for appliances that meet minimum efficiency requirements. At Van Drunen Heating & Air Conditioning, we can help by answering your questions about energy-efficient appliances and helping you to select a new furnace that meets eligibility requirements. 

Improve Your Energy Efficiency With a New Furnace

We know that financing can be a barrier to getting a new furnace and improving your home’s energy efficiency. At Van Drunen Heating & Air Conditioning, we can guide you through the process of securing low-interest financing for home upgrades. Additionally, we can help you to select an eligible furnace and handle 100 percent of the installation process. To learn more about new furnace installation and the financing that’s available, please call Van Drunen Heating & Air Conditioning directly today or send us a message at your convenience. We look forward to working with you. 

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