Loan Programs for Plumbing, Heating, and Air Repair in Vacaville: Do you need a HERO?

HERO programThe economy may have picked up in the Valley, especially compared to a few years ago, but many of us are still watching our purse-strings pretty closely. It hasn’t been the easiest decade for anyone and nobody knows that better than our clients. There’s a misconception that you need a lot of available cash to have your HVAC system worked on. But an HVAC system is like a car—when it breaks down, you need to fix it, cash on hand or not.

That’s something we understand very well here at Bell Brothers. There are a lot of options for financing HVAC system repair or replacement, and many people choose to go with their own bank for a loan or another financial institution. That’s not a bad call; it makes sense to go to the same institution for a loan that you trust with your money. In addition, if you have a good relationship with your bank and are known at the local branch, chances are they’ll do everything in their power to secure you a good deal on a loan.

When a Bank’s Not an Option

Unfortunately, sometimes that sort of financing just isn’t an option. While many banks are happy to lend funds, others will run you through the wringer looking for any reason to turn down a loan request or to jack up the interest rates. We hope that’s not the case with your bank, but we also know that sometimes it happens. Even if a bank isn’t looking to take advantage of you, they still turn down loan requests sometimes—even when an HVAC or other home emergency needs to be addressed.

The good news is that financing doesn’t start and stop with a bank. In fact, here in the Sacramento Valley, many communities have a designated program to help homeowners and renters get much-needed financial assistance to take care of problems or upgrade to newer and greener technology. The program has an appropriate name: HERO.[1.|pcrid|79574805255|pkw|hero|pmt|p|pdv|c|]

What Is HERO?

Say you need to replace your air conditioning. Your city or county has an incentive to improve your quality of life, and to make sure that you choose the most economic and environmentally sensible option. Under the HERO program they’ll give you a loan for a new air conditioner with a reasonable interest rate.

One of the best things about HERO financing is that it takes into account the realities of owning a home. If you move, you’re not going to take that new AC unit with you; so why should you continue to pay for it? With a traditional bank loan you’re stuck with that payment every month. But under HERO’s rules, loans taken out don’t stay with the borrower—they stay with the property! That’s some good old-fashioned common sense, and it allows people to keep their money and not be forced to stay in a property when they need to move. The provision also applies to renters, as well as homeowners.

Applying for a HERO Loan

The most important step in getting a HERO loan is to contact a program-approved contractor, like Bell Bros (not every contractor is licensed to do HERO work, or is knowledgeable about the program). You can go through the complicated process by yourself, but you’ll still need to find an approved contractor to do the work for you—it’s actually part of the HERO loan agreement. This works out in your favor, because the company you choose to work on your home does much more than you might think. The contractor you pick will help you figure out exactly what you need to replace or fix, and then work with you as you apply for a loan. They’re like your coach in the process, guiding you through the application process as well as other steps, such as an audit by the program to ensure the work is necessary. Once your loan is approved, the same contractor will carry out the work. This is why it’s important to choose a good contractor right off the bat; they’ll be with you every step of the way.

The two things people think about when it comes to home renovation are stress and expense. We get that, and there are good reasons to be concerned. We’ve seen our share of homeowner distress, usually after an emergency, a loan turndown, or a bad experience with a less-than-reputable contractor. But with a financing program like HERO and a contractor like Bell Brothers, you’ll be surprised at how little stress and expense there can actually be—and that’s a pretty bold statement from the No Surprise Guys.