Can You Finance Your New Floors?

Can You Finance Your New Floors?

For many homeowners, the idea of a big home improvement project can be a little nerve-racking for a few reasons, and you've probably got many questions swirling around. How much will it cost? Will I even qualify for financing? Where do I even start looking for financing?

We get it! Trying to finance a project can feel intimidating and scary.

Fortunately, Flooring Solutions has several options for financing your floors, and we've put together a guide to help you understand how financing works. We have options that have helped homeowners like you pay zero down and make small monthly payments to get the floors they love.

I think we can all agree saving money is almost always on our minds, right?

We'll walk you through the more intimidating parts of financing, such as rates, monthly payments, and how to qualify, so you can have peace of mind going into your next flooring renovation. You'll be able to decide whether financing your flooring project is the right choice and how it could benefit you.

Do All Flooring Companies Offer Financing

We can't speak for the industry as a whole, but we do know many professional flooring companies offer some type of option to help you finance your floors. Projects in the home improvement industry are typically significant and expensive. Financing options allow customers to afford projects they might not otherwise have.

Have you started planning your flooring renovation already? If so, you've probably thought to yourself at least once, "This is getting expensive." That's normal, and we get it!

Budgeting is such an important stage of the renovation process. Flooring Solutions has easy, affordable financing that our customers can trust and take full advantage of. Our financing options can allow you to get your dream kitchen, that beautiful new shower you've seen on Pinterest, or that new sunroom where you can relax and enjoy the peace & quiet.


Can You Finance Both Flooring and Installation

In most cases, there aren't exclusions to what you can and cannot finance with most financing companies. Usually, you get a line of credit based on your unique qualifications. You can use that whole line of credit on your invoice total.

Typically, you can finance both the flooring materials and installation. If you've already saved up enough money for a portion of your project, you can choose which to apply it to, either the flooring product or the installation.

It is always best to read the full details of the financing company you are applying with to see if there are any exclusions or special rules with their financing options. If you are still unsure, ask your flooring specialist for a breakdown of the rules and regulations.

Best Financing Rates for Flooring

If you choose to finance your floors, you can expect to pay anywhere from 0% interest up to 25% interest. These rates heavily depend on the financing company you use and the type of loan you qualify for.

While we can't speak for every flooring company out there, we can say Flooring Solutions takes pride in our financing options because of the freedom they allow our customers! We'll use Flooring Solutions as an example to give you a better idea of financing rates.

What Rates Are Available To You At Flooring Solutions


6 or 12 months Same As Cash

commonly used for smaller projects
These are sometimes called "same as cash" type loans because you can pay your minimum payment each month or pay it off early whenever you have the extra cash. They may also be referred to as "Same As Cash" because most homeowners apply for these loans on smaller projects, where a specific monthly payment is not as necessary.

15 & 18-month 0% interest

most common financing plan for Flooring Solutions customers.
This style of loan is most popular among our clients because it allows for an affordable monthly payment, even if you are financing a larger project. Are you more interested in the total amount you invest or meeting a specific monthly payment? These are good questions to ask yourself and discuss with your flooring specialist. It can help determine if you need a longer-duration loan.

24, 36, and 60-month Long-Term financing

We typically see these long-term financing options on total renovations. That could look like multiple rooms in your home, such as redoing bathrooms, a kitchen, and a large living and dining room. These options are less appealing than the two above because you typically have to pay a financing fee associated with the total purchase price. If you think one of these options could be right, we recommend contacting us to discuss more.

All of Flooring Solution's financing options are 0% interest. You will not accrue any interest as long as you pay the loan off in full within the duration of your loan. You will also not accrue interest on any above financing options as you make your monthly payments. Additionally, there is potential that this can help your credit score.


Can You Finance Your Floors With Bad Credit

Traditionally, financing companies like to see a strong credit score but don't let that discourage you if yours isn't perfect. You may still qualify for some financing options, especially if you have a stable income and can provide the requested documents. If you are worried about your credit score, it might be best to have a confidential conversion with a flooring specialist at our showroom. During your call, we can discuss possible score/financing options and give you our best professional advice.

How To Qualify For Flooring Financing

Along with reviewing your credit score, income and other contact information, financing companies may look at the type of flooring you want installed. They may even review whether it's a new home you recently bought, or an existing one. Sometimes, a down payment is required based on the duration of the loan, or the total amount financed. If approved, the financing company will let you know all requirements before you move forward. If you are applying with a spouse or co-applicant, it's best to use the higher of the two credit scores as the main applicant. Ultimately, you will need to speak to a specialist and get feedback on whether you will or will not qualify, before starting the application process.

When is the Right Time To Finance Your Floors

While there is no "right or wrong" time to finance your floors, there are certain times of the year when financing and flooring companies both have specials and promotions. Who doesn't love a good sale?

These usually happen around the holidays, like Thanksgiving and Christmas. Also, due to the nice weather, many projects and renovations are taking place in the early summer months.

If you are curious whether there are financing promotions or specials happening, we recommend contacting a professional flooring company and discussing your options. At Flooring Solutions, we offer our interest-free financing options year-round!

Is Financing Your Floors the Right Choice For You

The last thing we want is for you to hold off on a project you've been dreaming about due to how you will pay for it or because you don't know where to start looking for financing. If financing feels scary and intimidating, you'll be less likely to take advantage of it and push your new floors off even longer.

Our goal in laying out your financing options above and how to qualify for them is so you can see that the process doesn't have to be so overwhelming and complicated. Remember, the financing process can be simple when you know exactly how it works. Imagine how good it will feel to look at your newly installed floors, knowing you kept money in your pockets and worked with a financing company you trusted and felt confident in.

We'd love to walk you through the application process over the phone or step-by-step in person and get your project started. You can also apply easily today for no cost through our online portal! By beginning the application process, you can feel empowered by your choice to get the floors of your dreams and pay for them over time.