A broken water line or a lack of cool air from an air conditioner are all examples of unexpected problems homeowners may encounter. These nightmare scenarios can be expensive to fix. Luckily, financing options are available for homeowners to take advantage of and ensure any plumbing or HVAC expenses are covered.
For over 15 years, we’ve helped homeowners find solutions to HVAC and plumbing expenses by offering various financing options. Whether it’s a minor repair, brand-new plumbing pipe replacement, or HVAC installation, we have financing available to help homeowners.
If approved, homeowners in Los Angeles and the surrounding areas can get anywhere from $1,000 to $55,000 dollars to finance plumbing or HVAC repairs and products (home protection plans do not qualify) offered by Monkey Wrench Plumbing, Heating & Air. We offer the following financing options through our trusted partner, GreenSky.
- Plan 2832
- Plan 2720
- Plan 2511
- Plan 3128
After reading this article, you will gain a better understanding of the different terms and conditions available with each GreenSky plan so you can decide which financing option is best for you.
Financing Options Available
Monkey Wrench Plumbing, Heating & Air has worked with GreenSky as a financing service partner for several years. As a service provider and program administrator, GreenSky works with federally insured, federal and state-chartered banks that provide loans through GreenSky plans.
Homeowners have four different financing plans available through GreenSky. Financing with GreenSky allows homeowners the opportunity to conserve money by securing loans with fixed interest rates.
Here’s an overview of each of the financing options offered by GreenSky.
GreenSky Plan 2832
The GreenSky Plan 2832 is a year-round plan with a fixed interest rate. Homeowners who select this plan have 120 months (10 years) to pay off the amount at a 12.99% annual percentage rate (APR).
If selected, the first payment is typically due 30 days after making a purchase. Even though the homeowner has 10 years to pay off their purchase, there is no fee for paying off the loan early. For homeowners seeking a similar lengthy payment plan but with a lower APR, GreenSky 2720 is available.
GreenSky Plan 2720
The GreenSky Plan 2720 is another year-round plan offered with a fixed interest rate. This financing option gives homeowners 84 months (7 years) to pay off their loan at a 10.99% APR. The first payment is due within the first 3o days after a transaction is completed.
This plan offers a lower APR than GreenSky Plan 2832 but with three fewer years to pay off. The following two financing options are promotional plans offered through GreenSky.
GreenSky Plan 2511
The first of two promotional financing options is GreenSky Plan 2511. This plan comes with a 6-month promotional offer of no payments and zero interest for the first six months after a transaction is made between the homeowner and Monkey Wrench.
Once the initial six months end, homeowners have 84 months (7 years) to pay their loan off at 16.70% to 22.82% APR. After the first transaction is made, interest accrues during the promotional time but is waived if the entire loan amount is paid in full before the end of the first six months.
The remaining financing option is GreenSky Plan 3128, which has terms similar to GreenSky Plan 2511.
GreenSky Plan 3128
The GreenSky Plan 3128 offers no payments and no interest for 12 months. After the one-year promotional period ends, homeowners have 84 months (7 years) to pay off their loan at a 15.85% to 21.19% APR.
The interest is accumulated for the first 12 months but waived if the total loan amount is paid before the promotional period. Both promotional GreenSky Plans 2511 and 3128 have deferred interest.
If the entire amount isn’t paid before the end of the promotional period, the homeowner is responsible for paying all of the interest that accrued during the promotional period. The homeowner must also pay any interest accrued after the promotional period ends.
Both GreenSky Plans 2511 and 3128 are subject to availability. All four financing options can be applied online, over the phone, or in person.
How to Apply for Financing
Homeowners can apply for GreenSky financing through any of the following ways.
- Online: Homeowners can apply for their loans online through the GreenSky website.
- Over the phone: Homeowners can call 800-613-1844 and speak with a Monkey Wrench representative to fill out an application.
- With a technician: Our technicians are equipped with Apple iPads that have a link to the online GreenSky application. Homeowners can fill it out right on the iPad device with assistance from the technician.
To qualify for any of GreenSky's plans, homeowners must finance a minimum of $1,000 in services or products offered by Monkey Wrench Plumbing, Heating & Air. Before applying, homeowners must have the following information to fill out the loan application.
- Full name
- Social security number
- Annual income
- Date of birth
- Mailing address
- Phone number
- Email address
The application takes a few minutes to complete, and homeowners will know instantly if they are approved or denied. If approved, homeowners will receive an email confirmation with their “Notice of Approval” with a link to the loan agreement. Homeowners must then activate their account online or with a GreenSky representative by calling 866-936-0602.
If the homeowner has their loan application denied, they can reapply but will require a cosigner to see if their application is approved. Approved homeowners can make their monthly payments through GreenSky’s payment portal.
Completing Financing Application with Monkey Wrench
Financial plans offered through GreenSky can make emergency repairs less worrisome by eliminating the stress of trying to gather enough funds to fix any plumbing or HVAC issues. By understanding the four financing options, homeowners can get a better picture of the loan available with GreenSky. The information provided can help homeowners compare the four available plans and see which best suits their home budget funds.
At Monkey Wrench Plumbing, Heating & Air, we understand how emergency situations involving HVAC or plumbing can make certain necessary repairs challenging to budget for. Since 2007, we’ve offered homeowners various finance options to make these repairs easier to afford and get their home’s plumbing and HVAC repairs addressed immediately.
If you have any questions concerning GreenSky financing options, contact us using one of the buttons below. You can also book an appointment to meet with a certified technician to inspect your home’s plumbing or HVAC issues through our online scheduler.
Choosing a financial plan is a significant investment, and homeowners can protect their repairs further by learning more about the Home Protection Plan offered by Monkey Wrench Plumbing, Heating & Air.
