Chances are, you’ve always had a vision for what your home can be. But when it comes time to remodel your basement, bathroom or kitchen, update your roof or enhance your HVAC system, costs can enter into the tens of thousands – and therefore might not be affordable. By transforming that cost into a low, fixed monthly payment, homeowners can finally make their dream home a reality.
What is PowerPay financing?
PowerPay is a digital lending platform for the home improvement financing industry. Our fully automated technology offers near-instant approvals on loans up to $100,000, helping homeowners translate expensive home improvement projects into low, fixed monthly fees that can be paid over time.
Why should I use PowerPay?
We’re Lending It Forward. Unlike other companies out there, PowerPay is a fully independent company that is committed to delivering home improvement loans with no hidden fees, credit cards or prepayment penalties in order to offer the lowest monthly payment possible. After all, the more affordable the loan, the bigger the possibilities for your home.
How do I buy with PowerPay?
Getting set up is easy. Simply work with your contractor or work with us directly. You’ll fill out our simple online application form, and if you qualify, you’ll be shown the monthly cost of your project. You can complete the process whenever you’re ready.
Watch the PowerPay Video
Frequently Asked Homeowner Questions
What home improvements can I finance or take out a loan for?
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:
Additions, Attic Insulations, Renovations and Structural Changes, Air Conditioners, Artificial Turf, Awnings, Bathroom Remodels, Car Ports, Chimney Repair & New Chimney Builds, Decks & Patios, Docks, Doors, Energy Saving Retractable Pool Covers, Fencing, Fireplaces, Foundation Repair, Garages, Pole Barns, Garage Doors, Garage Storage Systems and Floor Sealer, Gazebos, Generators, Gutters and Gutter Systems, Hardscaping, Irrigation, Kitchen Remodels, Landscape Installation, Masonry/Asphalt: Driveways, Concrete, Pavers, Retaining Walls, Masonry stone veneers, Oil/Propane Tank, Outdoor Kitchens/BBQ, Outdoor Lighting, Painting, Patios, Ponds, Pool Remodeling and Repairs, Roofing, Salt Chlorinators, Siding, Solar Photovoltaic, Solar Thermal: Domestic Hot Water Heating, Pool Heating, Pools, Spas, Sport Courts, Storage Units & Sheds, Sun Rooms, Windows, Doors, Siding, Wind Turbines, Wood Playsets
Air Conditioning and Heating systems, HVAC equipment, Basement Systems, Basement Waterproofing, Basement Remodeling, Boilers, Cabinets and Cabinet Refacing, Closet Finishing Systems, Countertops (quartz, granite, marble, etc) & Backsplash, Dampers, Duct Cleaning, Electrical, Fans: Whole House, Gable, Ceiling, Fireplaces, Flooring, Furnaces, Gaming Tables, Garage Heaters, Geo-Thermal Systems, Heat Pumps, Home Safety Solutions, Stair Lifts, Wheelchair Ramps, Home Theater, Indoor Air Quality: Filtration, Hardwood and Vinyl Flooring, Humidification, Thermostats, Insulation, Lighting: Installed, Painting, Plumbing, Shower Refacing, Liners, Shower Replacements, Walk-In Tubs, Remodels: Room Additions, Renovations, Smart Home Equipment, Security Systems, Stoves: Gas, Wood, Pellet, Tile, UV Lights, Water Heaters, Water Softeners, Window Treatments and Window Coverings.
What Home Improvement Loan Programs are available to me?
Not every contractor or dealer uses all of our programs. If your contractor is not familiar with PowerPay, that’s ok. It’s a quick set up for them to join. They can use this link. These are our general programs. Your contractor may use some, or all of these programs based on their business type.
- rates start as low as 4.99%
- terms options are 5, 10 or 15 years (lowest monthly payment)
- no prepayment penalties
- no credit cards
- Up to 24 Months NO payments NO accrued interest (12-month or 24-month options)
- Deferral Period begins at the completion of construction
- 15 Year Product
- NO Balloon Payment: at the end of the deferral period your customer just begins making their low monthly payment with an interest rate as low as 8.99%
- NO Credit Card
- 2, 3, 5 Year NO Interest “Equal Pay” Product with an ultra low default 8.99% APR
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.
What equipment do you finance?
We work with all of the major equipment and material manufacturers.
What makes PowerPay different?
PowerPay is a fully independent company that is committed to delivering loans with no hidden fees, no credit cards or no prepayment penalties 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.
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.
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. All payments can be made via a secure webpage at gopowerpay.com or you can download the “go powerpay” app from the Google Play or Apple App Store. Watch the payment setup video