Lehigh Valley, PA ‐ June 15, 2012 AFC First Financial Corporation, www.afcfirst.com
a national leader in energy efficiency financing for homeowners, has introduced a six
or twelve month “Same as Cash” feature as an enhancement to its popular True Fixed
Rate™ EnergyLoan® customer financing program for energy‐saving home
Access to fair and simple financing can make or break a homeowner’s decision to improve their home’s energy efficiency
and comfort when considering the purchase of improved heating and cooling, windows, insulation or other energy
improvements. Unfortunately, many home improvement financing options are credit card type programs with “teaser”
interest rates for an introductory time which then revert to a very high rate if the loan balance is not paid off during the
promotional period. These programs also tend to be adjustable rate or have penalty rate “gotchas” which means the
customer is not absolutely guaranteed a fixed rate or payment for the loan term.
EnergyLoan® from AFC First www.energyloan.net is a True Fixed Rate™ simple interest loan with
longer terms and lower payments available than typical bank or other types of unsecured home
improvement financing. The monthly payment and interest rate can never change, even with the
“Same as Cash” option. And since there is no penalty for pre‐payment, the customer may pay off
the loan or make additional principal payments at any time.
The new optional “Same as Cash” feature is an added benefit for consumers who feel they may have the funds to pay the
loan off during the selected six or twelve month period. Regular monthly payments are required during the promotional
period, but if the loan is paid off during that time any interest that has been paid to date is waived and reimbursed, the
equivalent of paying cash at time of purchase. If the consumer does not pay the loan off during the promotional period
they simply continue to make their regular monthly payments with their original guaranteed fixed interest rate and monthly
payment. There is a nominal marketing fee charged to the contractor for this optional feature. There is currently no
contractor charge for the standard EnergyLoan® program.
According to Ken Yeager, AFC First’s Vice President of Business Development, “Affordable installment monthly payment
financing like EnergyLoan® is rapidly increasing in popularity as a consumer‐friendly alternative to using credit cards to pay
for major capital purchases. The ‘Same as Cash’ feature makes this program even more attractive to many homeowners.”
AFC First Financial Corporation, founded in 1947, operates residential energy efficiency loan
programs in cooperation with states, utilities, manufacturers and over 3,000 contractors
nationally. The company is one of three Fannie Mae approved energy lenders in the country
and is the first private, non‐utility Home Performance with ENERGY STAR sponsor
designated by the U.S Department of Energy. It was recently named one of the national
pilot lenders for the Power Saver loan program by HUD.