If the cost of replacing the windows is worrying you, then you should consider window financing. Most of the companies offer window financing. Window financing is stretching the cost over a period of time. Unlike other things, having bad credit would not mean that you can not get a loan for replacing your windows.

When to replace windows?

There are a few tell tales that would help you to decide when to replace those window panes with better and higher-quality glass. They are as follows:

The windows were installed 15 years ago or more. Even with the windows shut, the cold air and the heat find a way inside the house. There is cracking or yellowing on the window panes and glass. You have just decided to renovate the house and want to change the windows for a new look. Old windows were not the level of security that you need. There is water intrusion because of damaged windows.

When to decide on financing?

Once you have decided to replace the windows, you research the cost of replacing windows. The cost of replacing one window is an estimated $650, which can go higher depending on the material, size, and other factors. This stops many people from installing new windows as the costs are quite high. In times like these, financing the new windows can play an important role.

Types of financing

The list below is not comprehensive. You should talk to your financial planner to decide on the best course of action for you.

Home equity line of credit (HELOC)

A HELOC is essentially a line of credit that you can use once you’ve been approved for a certain amount which is an ideal option for those who have low credit. You have to make sure you have the money to make the monthly payments; otherwise, your credit score may suffer. 

Home equity loans

This is a low-interest rate loan that gives you a set amount of money for replacing your old windows.

Mortgage refinance

This is a common method for gaining low-interest rates.

Personal loan

You can also take personal loans but they come with higher interest rates.

Financing from the company you choose for the window replacement

Many windows and door providers offer to finance, so you can get everything done in one place rather than having to go to banks and other places. As a result, be sure to inquire if the window company you choose can assist you. But you should be mindful of the rate of interest charged by them. If they charge a higher interest rate, consider going for the other options.

Credit cards

Credit cards have become quite common as they are very convenient but they have some of the highest interest rates. If you choose this option, make sure you can afford the monthly payment to avoid damaging your credit score. 

Cash

This is the most obvious option of all. Pay in cash the amount of replacing old windows. No hidden costs or interests to worry about later.

Window financing

Many companies provide financing for the replacement of the windows. They have in-house financing which is helpful for those who do not want to shell out the cost all at once. The financing depends on your credit approval though it would not require a minimum required credit score. So, this means that bad credit would also not be a problem.

The companies that provide financing are:

Ameriside

Based in Southern California, it has an approval rate of 90%. It provides bad credit financing also.

Champion Windows

You can find Champion Windows throughout the United States. It has regular discounts on its website, so one should check those too. Though Champion Window never explicitly said that bad credit is okay, it does help its clients in obtaining finance.

Renewal by Anderson

Just like Champion Windows, Renewal is based throughout America. But the only difference is that it does provide financing on bad credit but it charges a higher interest rate.

Window Nation

Window Nation is located in the states of Delaware, Indiana, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, and Virginia. Together with Synchrony Bank, it offers financing options. Nothing of bad credit is stated, all applications are subject to approval.

Window Universe

This is based in Virginia and it offers financing through Wells Fargo. Just like Window Nation, it doesn’t state anything about bad credit and all applications are subject to approval.

Window World

It has stores all around the United States. It provides financing through Wells Fargo. They do not have any active policy on bad credit financing and all approval of applications is subject to approval.

Conclusion

Replacing windows for security and aesthetic purposes is important and it doesn’t necessarily have to be a burden on your pocket. With the various options available, you can get window financing even if you have a bad credit score. However, try to improve your score by making timely payments. 

Do you need a permit to install windows?

Some states like Florida require permits to replace the windows.

Is there a financing option for those who want to install it DIY?

Yes, both The Home Depot and Lowe’s offer loans that can help you with your DIY project.

Should I still invest in new windows if I know I’m going to sell the house in the future?

Investing in new windows would make your home livelier which would increase its value in resale.