Home improvement financing for your new driveway

  • Rates starting at 8.99%
  • Up to 15-year terms
  • Borrow up to $100K
  • No prepayment penalties or hidden costs
  • No Credit Card

Making a new driveway affordable.

Building a driveway for your home isn’t just a matter of laying down some asphalt. Asphalt remains relatively low-cost, but great financing options offered by contemporary companies put other driveway types within reach. You may consider an elevated concrete or brick drive, much cooler in a hot, sunny climate – or even granite pavers that last a century, maintenance-free. Great financing sources help to open the door to bigger and better driveway possibilities.

Calculate your monthly loan payment

*Your actual rate may vary based on your credit score.  Calculator is only for estimations, your exact loan amount may vary slightly.

How Financing Helps You Contract for a Better Driveway

Financed Professional Driveway Installation is Superior to DIY

Paving a driveway – whether tearing out an old, badly damaged driveway and starting fresh or paving over a previously dirt or gravel parking area – is a major project. Unless you have tons of time, experience, and enjoy demanding physical work, hiring a professional contractor usually works best. A contractor knows how to build the driveway for longevity, with correct drainage and other necessary features. The labor cost is well worth a solid, stable installation that’ll serve you well for many years.

Comparing Your Driveway Paving Alternatives

The cheapest, fastest solution for paving your driveway is asphalt. It’s a very effective solution and lasts a reasonably long time. The price for an average asphalt driveway in the USA today is $4,500, varying from $2,000 to $10,000 based on size. Poured concrete driveways are $6,000 to $10,000. Various paver options which look even better can outlive asphalt by two to five times, but are much more pricey. Average concrete paver drives cost up to $12,000 to $13,000, brick pavers $19,000 to $20,000, and real stone (cobblestone) pavers $40,000 or more.

Figuring Driveway Maintenance into Your Financing Choice

When deciding on your preferred driveway pick, how much maintenance you’re willing to do or pay for is an important factor to consider. Good financing makes more expensive options needing less maintenance worthwhile. Asphalt drives need to be sealed every two to three years and cracks and splits must be filled or patched. – Iif neglected, crumbling can occur and repaving becomes necessary. Concrete, whether pavers or stamped, needs a faster, easier and cheaper sealing every four to six years. Brick is similarly easy to seal while cobblestone pavers may just need filling for a small gap or crack, but need no maintenance whatsoever beyond an occasional pressure washing to make them look fresh.

Homeowner Driveway Financing FAQ

Is Contractor Partner Financing Better than a Home Equity Loan?

Unlike a home equity line of credit, when using a contractor’s partner financing option, your house is never in jeopardy of being used for collateral – you aren’t taking the risk of foreclosure in the event of defaulting. Additionally, while you can secure a home equity loan for the relatively low price of an average driveway installation fairly easily, financing sources with long terms that take care to eliminate hidden contractor fees often offer competitive loan rates.

What is the Lifespan of Different Driveway Types?

The useful lifespan of various driveway materials varies greatly, but generally, the more expensive the option, the longer it lasts. A modern asphalt driveway, properly laid down, survives around 20 years before replacement. A bitterly cold northern climate with winter frost can shorten this to 15 years. Concrete drives, whether pavers or stamped, last around 30 years under typical conditions, while brick pavers remain useful for roughly 25 years. Stone pavers, such as granite, endure for 100 years or even longer.

How Much Extra Does a Circular Driveway Cost?

Plain, straight driveways are the cheapest to install, while circular driveways can double the average cost or more. One reason for this is simply that they require much more material, since they cover the same surface area as an extremely long straight driveway. Labor costs also increase because building the curving shape is more time-consuming and demanding than making a simple straight driveway. Nonetheless, backed by good financing, you should at least consider the possibility of a circular driveway to gain its convenience and appearance benefits.

Powerpay FAQ

What is PowerPay?

PowerPay is a digital lending platform for the home improvement industry. Our fully automated technology offers near-instant approvals on loans up to $100,000, helping homeowners translate expensive home improvement projects into low monthly fees that can be paid over time.

Unlike other digital lending platforms, PowerPay is a fully independent company that is committed to delivering loans with no extra fees or added costs in order to offer the lowest monthly payment possible to our customers. After all, the more affordable the loan, the bigger the possibilities for your home.

What home improvements can I finance?

Any equipment, service, installation costs or other project related to home improvement qualifies for financing. The following is a partial list of what PowerPay finances: HVAC equipment & installation, attic insulation, stone veneer, windows, siding, roofing, kitchen remodels, bathroom remodels, cabinets, carpet, deck & patio, doors, fireplaces, garage doors, smart home equipment & installation, hardwood flooring, paint & wall coverings, hardscaping, landscaping, siding & exteriors, tile, stone & countertops, air conditioning & heating, gutters, spa & pool, home additions, deck building, tile installation, basement remodeling, custom cabinets, fence installation, lighting installation, garage building, cabinet installation, backsplash installation, electrical and plumbing and appliances.

What contractors can I work with?

Any contractor can provide PowerPay financing.  If your contractor does not offer it, simply ask them to sign up on our dealer enrollment page.  It’s free for the contractor to sign up, takes only a few minutes to set up their account and they can process your loan in less than 48-hours. 

Does using PowerPay impact my credit score?

No.  When you apply for a PowerPay loan it will not affect your credit score.  PowerPay uses what’s known as a soft pull from credit agencies.  A soft inquiry—also called a “soft pull”—allows us to review your credit report and credit score to get a sense of how well you are managing your credit but it will not affect your score.

What equipment do you finance?

We work with all of the major equipment and material manufacturers.

Why should I use PowerPay?

Just like many people finance their car payments, over 50% of all home improvement projects are financed. Financing can be a great payment option when your dream project costs too much money to pay for all at once. Using PowerPay, you can translate that expensive lump sum into a low, affordable monthly payment. The result is the opportunity to stop worrying about what a project costs, and spend more time dreaming about the possibilities for your home.

What makes PowerPay different?

PowerPay is a fully independent company that is committed to delivering loans with no extra fees or added costs in order to offer the lowest monthly payment possible to our customers. After all, the more affordable the loan, the bigger the possibilities for your home.

How do I buy with PowerPay?

It’s easy. You can either work through your participating contractor or contact us directly.  Follow our simple application process. If you pre-qualify, you’ll be shown the monthly cost of the item and can complete the process.

Where do I apply?

You can apply on our website at our online application form. Or, simply work with any participating contractor.

How can I get approved for a loan?

Just fill out the simple online application and receive a decision in seconds. It’s that easy.

Who is eligible to apply for PowerPay?

U.S. residents over the age of 18 (or 19 for Alabama or Nebraska residents) are eligible, provided we can verify your identity.

Can I pay my loan back early?

Yes. You can prepay anytime for all or part of your loan. There is never a penalty for paying early.

What is the application process like?

The application process is fast and easy. You’ll be asked to provide some basic information about yourself. If you qualify, you will receive an email with one or multiple loan options along with a loan limit that may even go beyond the cost of your project. You may opt to borrow more and add things like annual maintenance and monitoring to your loan.
Where applicable, there is a one-time member activation cost for each approved loan. For convenience, that cost can be rolled into the final loan balance. As a PowerPay member, you also get exclusive access to member benefits from our lender, including insurance, monitoring, utility, & entertainment partners. Your contractor will walk you through the details prior to signing. All of the documents are electronic so you can sign everything from your home or office without any paperwork.

How does the financing work?

Fill out our online application and receive an instant approval via secure private email. Next, select the plan you want to choose with your contractor and then receive and sign our secure paperless closing documents. 

Can I obtain a direct loan using PowerPay?

Yes.  PowerPay is available to help to finance a home improvement through participating contractors, but if you do not have a participating contractor, we can help connect you to one in our network. Alternatively, your current contractor can enroll with us and be up and running in less than 48-hours.

Is PowerPay a bank?

No, we are not a bank. We are a digital lending platform designed specifically for the home improvement industry.

Are payments secure?

It is very important to us that your personal information remains secure and encrypted. We install endpoint protection software and/or secure web gateways at all points in our online process. There is a data protection policy in place to help ensure that personal data is kept secure.

How do I make payments?

Once your loan is processed you will receive your loan documents, welcome package, and payment instructions. You can pay with ACH, check, or debit card.

How is the APR (annual percentage rate) determined?

We work with our lender network to look at the credit risk of you as a borrower, and to give you a rate that fits your credit profile. Your financing options are presented to you in clear, simple terms. You are never obligated to accept them. Unlike many platforms that offer credit cards, PowerPay strives to offer lower-risk borrowers with lower rates. The annual percentage rate is the cost of credit as a yearly rate.

Why was I declined for a loan?

Unfortunately, financing options can’t be provided to everyone. If you believe a mistake has been made, please let us know by contacting 800-397-4485. If you are declined, you will receive a notice within 30 days at the email address you provided to us, describing some of the reasons you were declined. Applicants are declined only for credit reasons.

Where can I ask a question or make a complaint?

Please let us know right away. If we have fallen short of our goals, we’d like to know as soon as possible so that we can rectify the situation. You can call us at 800-397-4485 or chat online 24 / 7.

When are my payments due?

Your first payment will be due approximately 30 days from the funding date. Subsequent payments are due every month after that, usually on the same day of each month.

Is PowerPay a credit card?

No. PowerPay is a consumer loan program. You do not need to hold and manage yet another credit card when you work with PowerPay.