Payment Basics
Monthly Payment Plan: You’ll make regular monthly payments instead of paying all at once. This spreads the cost over time and makes comfort affordable.
Fixed Interest Rate: Your interest rate never changes — what you start with is what you stay with. This keeps your monthly payments predictable.
Loan Term: The length of your loan — for example, 120 months (10 years) or 180 months (15 years). Longer terms usually mean lower monthly payments, but more total interest.
Application
Instant Approval: Many customers are approved within seconds after submitting a quick online form — no long waits.
Soft Credit Check: GreenSky uses a soft credit pull initially, so your credit score won't be affected just for applying or checking your options.
No Prepayment Penalty: You can pay off your loan early — in part or in full — without any extra fees. No strings attached.
Promotional Perks
No Collateral Required: You don’t need to put your home or property on the line. Approval is based on credit, not ownership.
Deferred Interest: With select plans (like 6- or 12-month no-interest if paid in full), interest is only charged if the balance isn’t paid off within the promotional window. Think of it as an interest grace period.
Zero Down: You can finance your new system with no money out of pocket up front. Start the work now, pay later.
Plan Types from GreenSky
No Interest if Paid in Full in 6 Months:
You won’t pay any interest if your full balance is paid off within 6 months. Great for short-term bridging.
No Interest if Paid in Full in 12 Months:
Same as above — just with a 12-month window. Perfect if you need a little more breathing room.
Reduced APR of 9.99% for 120 Months:
A stable monthly payment with a lower interest rate spread over 10 years. Example: $132/month for a $10,000 job.
Reduced APR of 11.99% for 180 Months:
Slightly higher rate, longer time frame — good for keeping payments low. Example: $120/month on a $10,000 purchase.
Final Note
All plans are subject to credit approval. Terms vary based on the lender and program selected. Red Bear Mechanical helps you navigate these options — so you're never in the dark.