We actually financed through a window manufacturer’s program. We were set on a specific brand of windows (we wanted Marvin Ultrex fiberglass windows), and the local dealer for Marvin had a promo: if you finance through their partner (which was a GreenSky loan), you got an extended warranty and a decent APR. It was a promotional tie-in. The loan was handled by a bank, with 18 months at 0% and then 9.99% after if not paid. We paid it off just in time.
The only hiccup: the paperwork was a bit of a pain, since we were dealing with a third party for the loan and the contractor for the install. At one point there was confusion about when the first payment was due because the project got delayed. We sorted it out by calling the lender. So if you do something like that, stay on top of communications between all parties.
But otherwise, the windows are great and it all worked out. I'm in Clearwater by the way.
I know I'm jumping in late, but I’ve read through this whole thread and it's like a masterclass in window financing. Big thanks to everyone who shared.
One thing I wanted to mention: a friend of mine got her windows done in the Tampa area and the contractor had a partnership with a local credit union for financing. Essentially, when she went for the quote, they gave her a brochure for the credit union loan that was pre-negotiated for the contractor's customers. She applied and got a decent rate (I think around 5.5% for 5 years). It was almost like contractor financing, but technically through a credit union. So sometimes, even if the contractor says "we have financing," it might actually be through a third party like that. Nothing wrong with it, just good to ask who the financing is actually with.
Personally, I'm leaning toward just using my own bank when I do my windows, but it's nice to know if the contractor has a smooth process in place.
Also, on a slightly different note, has anyone tried a partial DIY approach to save costs? Like buying windows separately or doing the interior trim finish work yourself? I'm pretty handy, but I'm not sure I'd want to mess with installation given our building codes. I suspect for most of us, leaving it to the pros (and thus financing the full professional job) is the way to go, but the thought crossed my mind as a way to cut costs.
@psychology_mario I'd advise against DIY window installation unless you're very experienced and know the code requirements. In Florida, especially for windows, a permit and proper installation are crucial (for insurance and hurricane safety reasons). Buying windows retail and finding an installer might save a little, but often window companies get better prices on the windows than we can as consumers, and their quote includes installation labor. If you piece-meal it, you might not save much and you lose the single point of accountability if something goes wrong. Plus, financing is usually only available if you go through a company (since a DIY project you'd be paying out of pocket or personal loan anyway). So for most, it's better to hire a reputable company and maybe finance through them or separately.
I considered DIY with a handy friend to save money, but ended up just financing through a professional installer for peace of mind.
It's interesting hearing all the different strategies. My house is 23 years old and I just did windows as part of a larger remodel. I actually financed in a rather unconventional way: I took a loan against my investment brokerage account (kind of like a margin loan, but I did it carefully). The interest rate on that was around 4% at the time, which beat any personal loan I could get. I only borrowed a portion of the cost that way, to keep the risk low (borrowing too much on margin can be risky if your investments drop in value).
I'm not necessarily recommending this for everyone, but if someone has a sizable stock portfolio, it's a possible way to get quick cash without a formal loan application. The downside is if the market swings, you could get a margin call, so you need to be very sure you're borrowing conservatively relative to your portfolio's value.
For the rest of the cost, I actually used cash. I thought about doing a HELOC but didn't want to go through the paperwork since the remodel had a lot of moving parts.
Anyway, the more "normal" methods discussed here are definitely safer for most folks! I just figured I'd toss in a creative approach I tried. In hindsight, a straightforward loan might have been simpler, but hey, it worked out for me.
P.S. On the plus side, houses in the 15-25 year age range like yours often have standard-sized window openings and not much structural damage, which helps keep costs in check. My friend’s house from the 1960s had tons of unexpected issues (rot, non-standard sizes), which blew up his budget.
Glad to hear you're leaning towards impact windows, @dennis_rogue. It's a wise choice for Florida living.
One more financing thought: you can always do a hybrid. For instance, pay whatever you comfortably can from savings and finance the rest. This way you're minimizing how much you borrow. It seems obvious, but sometimes people either finance the whole thing or wait until they have the whole amount. There's a middle ground: put, say, $5k or $8k down from your savings and finance the remaining $7k or $10k. That reduces your loan size and monthly payments, and you pay less interest overall.
We kind of did that on our project. We had about $4k saved specifically for windows, and we used that as a down payment to the contractor, then took a loan for the balance. The contractor financing actually allowed us to do that – they just financed the net amount after our down payment. It wasn't an issue at all.
It sounds like you're already negotiating price, which is great. Any money you save there is effectively like earning money at whatever interest rate you'd pay – for example, negotiating $1k off is $1k you don't have to finance or pay interest on.
So yeah, mix and match as needed. The end goal is to get those new windows without breaking the bank.
Yes, adding to what @hollysnowboarder said: Most window contracts here require some deposit when ordering (I paid 20% upfront and the rest on completion). If you're financing through a loan you got yourself (like a bank loan), you might use part of that loan to pay the deposit. If using contractor financing, often that covers the whole amount but check how the deposit works with financing. In some cases, you still pay a small deposit out of pocket even if financing, and then the financing covers the remainder.
In my case, I financed via a home equity loan and just paid the contractor's required 20% deposit from that loan money to get the project started, then paid the rest when it was done.
So just be ready that you'll likely need some cash upfront when signing the contract, financed or not, because they need commitment to order the custom windows.
My two cents: If you can manage the payments comfortably, financing a project like this is fine. Windows are a solid investment in your home. But try not to extend the loan beyond the expected life of the windows. E.g., don't still be paying off windows in 15 years when they themselves might start to wear out in 20-25 years. That’s why I personally wouldn't finance windows for like 15-20 years (like PACE offers), unless absolutely necessary. I think 5-7 years financing is a good balance if you need it, so you have them paid off well before you'll consider replacing them again (hopefully never, if you get good ones).
Also keep in mind interest on a home equity loan can be tax-deductible now (since it's for home improvement), so that effectively lowers the cost if you itemize on your taxes.
A bit of an aside, but since we're covering all bases: if any readers are in condos or HOAs, sometimes there are programs or group deals. In my condo building in Clearwater, a bunch of units decided to get impact windows around the same time. The association negotiated with a contractor for a bulk rate and even arranged financing options through a local lender that owners could opt into. It made things easier for those who participated, and they got a small discount due to volume.
For a single-family homeowner, you might not have that scenario unless maybe after a storm event where lots of neighbors band together for repairs. But it’s interesting how creative things can get.
In my case, I took the credit union financing offered through that group deal: 4.5% APR for 7 years via Achieva Credit Union. It was smooth because the contractor and credit union had a system in place.
This might not apply directly to you, @dennis_rogue, but just sharing for completeness. And it reinforces the idea: always ask if there are any special programs or partnerships the contractor might have.
Good call by @katievolunteer on looking for unique scenarios. For most of us in single-family homes, it's all on us to find the best deal, but if you ever hear about community programs, worth exploring.
Also, reading through everything, one thing stands out: make sure you're comparing equivalent things when you look at quotes or financing. Sometimes a quote might be higher not just due to company "markup" but because they're offering a higher-end product or including more work (like stucco repairs, better warranty, etc.). Same with financing: one 0% deal might be slightly different than another (length, fees, etc.).
When I did my windows, I had one quote that was much higher until I realized they included some structural work (I had an iffy frame on one window) that the other quotes left out as a "if needed, it'll cost extra." So in the end, that higher quote might have been comparable if that issue arose.
In financing terms, think of it like comparing loan APR vs fees vs terms. Kinda like comparing a 0% 12-month vs a 5% 5-year – it's not apples to apples, one is short with no interest, the other is long with interest.
I guess my point is, as you get into the nitty gritty, keep a little spreadsheet or notes to track the differences. It helped me keep it straight, especially when juggling multiple quotes and financing offers.
To add on about comparing and planning: think about when the payments will overlap with other expenses. For example, if you do 0% for 12 months, those will be hefty payments if you're dividing the cost by 12. Can your monthly budget handle that along with mortgage, etc.? If yes, awesome – it's the cheapest way. If it'd be too tight, then maybe a longer loan is safer so you don't strain finances or risk missing a payment.
In my case, I realized that the 0%/12-month option would have meant ~$1000 a month for that year to pay off our project, which was a lot for us on top of other bills. We opted for a 5-year at 5% with about a $300/month payment, which was much more comfortable. We still paid extra when we could, but we weren't obligated to.
No shame in choosing a longer term if it means you sleep better at night. As long as the interest rate is reasonable, you're basically paying a bit of interest for peace of mind and cash flow flexibility.
And if you get a raise or windfall, you can always throw it at the loan to finish earlier. That's what we did when I got a bonus at work – plunked it on the window loan.
It’s like others have said, lots of valid ways to do it – just match it to your personal financial situation.