Microf’s Lease Purchase Program
Microf believes that all consumers should have options when it comes to replacing their heating and cooling system. Our lease purchase program is designed to help homeowners with a broad range of financial needs replace their heating and cooling system. Completing the online application will help us determine the best options for you. You can apply directly online and Microf will connect you with a contractor in your area.
Get What You Need Today!
Replacing your HVAC can be a major hardship. 70% of Americans do not have enough cash on hand to buy a unit outright. And, there is a large portion of the population that doesn’t have the credit to get traditional financing. That’s where Microf’s lease purchase program comes in and rescues you from the brutal heat of summer.
Lease Purchase Air Conditioning Program? What’s That?
Our lease purchase program enables you to get a new HVAC unit installed right now with a guaranteed purchase option. Microf offers multiple products with monthly renewal options designed to fit your budget.
Advantages of Microf’s Lease Purchase Program
- Fast Turnaround When your AC goes out, you don’t want to wait in the sweltering heat a week for financing to go through. Microf can approve you in minutes so you can get back to comfort ASAP.
- Poor credit? No problem. Renting an AC unit through us doesn’t require great credit and we provide a guaranteed purchase option.
We could go on and on about the benefits of our lease purchase program, but instead we’ll just direct you to our blog on the subject.
Interested in our payment plans? Use our payment calculator!
Eligibility Requirements: How Do I Qualify?
At Microf, we regularly approve applicants with less-than-perfect or damaged credit. So many people are eligible for our program, it’s easier to name the people who aren’t:
- Renters of houses and land
- People involved in reverse mortgages
- People renting (to own) their property
Microf’s Approval Process
Here’s what you’ll need to complete the application:
- Homeowner’s insurance
- Active Bank Account (routing & account numbers)
- Social security number or ITIN
- Proof of Income (e.g. pay stub or bank statement)
If you choose to have a Co-applicant, we will also need their social security number or ITIN and proof of income.
Important Terms and Conditions.
This is a lease purchase transaction, rather than financing. The term of the agreement is 1 month. After that, while you have the leased property, the Agreement renews for additional 1-month terms, until you own the leased property or surrender it to us. You may surrender the leased property at any time to terminate the Agreement, without paying a penalty. The total cost to own the leased property does not include other charges such as late fees and reinstatement fees. You will not own the leased property unless you pay the total cost to own.
Important Conditions and Restrictions. Not all options are available in all markets. Minimum lease amount is $2,500. Lease-purchase options are available for primary or vacation/second homes, but unavailable for non-owner occupied investment/rental properties. Up to 48 monthly renewal payments available in CA, CT, IA, ME, NY, OH, PA, and WV with minimum lease amount is $3,000. Not available in AK, HI, MN, NJ, VT, WI, and WY.
