Help New York homeowners move forward with renovations and home improvements by offering flexible financing options.
Offer your New York home improvement customers flexible monthly payment options through participating lenders, without managing the loans yourself.
Replacing a boiler in the middle of winter, repairing a roof damaged by snow and ice, or waterproofing a basement can cost thousands of dollars. Even when homeowners are ready to hire you, they may not want to pay the entire amount upfront.
Contractor Financing Solutions provides financing for contractors in New York through a network of participating lenders. Your customer completes one online application to check available offers using a soft credit check, then decides whether to move forward. The lender makes the credit decision and collects the monthly payments.
Review lender programs, funding requirements, and fees before you enroll.
Key Takeaways
One application to check multiple lenders. Homeowners apply once and see offers from several participating lenders.
Options for different credit scores. Participating lenders have different approval requirements, and some may consider applicants with scores around 570.
Check offers without affecting credit scores. Homeowners review available options with an initial soft credit check. A hard inquiry happens only if they choose an offer and apply.
Financing up to $100,000. Eligible homeowners may qualify for up to $100,000, depending on the lender.
Who receives the funds. Some lenders pay contractors directly, while others send the loan proceeds to homeowners. Funding requirements vary by program.
The lender collects monthly payments. Your company doesn’t service the loan, and some programs offer non-recourse terms, subject to the applicable lender and contractor agreements.
Once you’re enrolled, you can offer financing alongside your estimates, giving customers a way to explore monthly payments before deciding on the project.
Here’s how it works:
You set the project price. The lender sets the APR, term, and any loan fees, and your company doesn’t approve loans or collect monthly payments.
Lenders release funds in different ways. Some send the loan proceeds directly to the contractor, and others disburse them to the homeowner, who then pays for the project. Many require signed loan documents, and some require proof that the work has been completed before releasing funds.
New York also has specific requirements for payments contractors receive before completing a job. Under General Business Law section 771, payments a home improvement contractor receives before the work is complete generally must be deposited as required by the state Lien Law, unless the contractor instead provides a bond, contract of indemnity, or irrevocable letter of credit. Contracts with progress payments must also include a schedule tying each payment to the work or materials it covers.
If a lender pays your company before a job is finished, ask your attorney how those funds fit New York’s deposit requirements and your contract’s payment schedule. We’ll walk through each lender’s funding process with you during the demo.
New York doesn’t issue a statewide home improvement contractor license. Licensing requirements are generally set by individual cities and counties, so the rules for a contractor in Manhattan, Long Island, and Buffalo can be quite different. A few specialties, such as asbestos abatement, do require state licensing through the Department of Labor.
| Area | Licensing Office |
|---|---|
| New York City | Department of Consumer and Worker Protection, which also requires a $20,000 bond or enrollment in its Trust Fund |
| Nassau County | Office of Consumer Affairs |
| Suffolk County | County consumer affairs licensing office |
| Westchester and Rockland Counties | County consumer protection departments |
| Buffalo and other cities | City licensing or permit offices, where required |
Plumbing and electrical licensing is also handled locally in New York. Requirements change, so confirm with each city or county where you work. Participating lenders may verify your licensing before approving your company to offer financing.
New York also has statewide rules covering home improvement contracts, cancellations, and certain roofing jobs. It’s a general summary for contractors and isn’t legal advice.
Under GBL sections 770 and 771, home improvement contracts totaling more than $500 must be in writing, signed by all parties, and given to the owner before work begins. The law’s definition of “owner” includes residential tenants and co-op shareholders, not just homeowners, which matters for apartment renovations in New York City.
Owners can cancel a covered home improvement contract until midnight of the third business day after signing. The exception is narrow: it applies only when the owner initiated contact for a bona fide emergency and provides a separate, signed statement in their own handwriting waiving the right to cancel.
Under GBL section 771-b, a homeowner can cancel an insurance-funded roofing contract within three business days after the insurer says in writing that all or part of the claim isn’t covered. Roofers can’t require a deposit on these contracts, can’t promise to pay or rebate the deductible, and can’t negotiate the claim. The remaining balance may be invoiced only after the work is completed. Any financing a homeowner uses for their share of the project should fit within these rules.
The New York State Department of Financial Services licenses and supervises consumer lenders. Participating lenders hold their own licenses for the loans they make to homeowners. Contractors who extend credit themselves, or who receive compensation tied to financing, should get guidance on what applies.
Home improvement needs vary across New York, from older apartment buildings in New York City to single-family homes on Long Island and properties throughout upstate communities.
Older brownstones, row houses, and multifamily buildings often need boiler replacements, flat roof work, basement waterproofing, and renovations inside co-ops and condos. Building rules and permits can add time and cost.
Coastal storms, mature trees, and older suburban homes lead to roof replacements, siding, windows, and HVAC upgrades, including conversions from oil heat to heat pumps. See our roofing contractor financing page for more on roof projects.
Long winters and lake-effect snow around Buffalo, Rochester, and Syracuse can lead to costly heating repairs, roof damage, and insulation upgrades. Our HVAC contractor financing page covers heating and cooling work.
The estimates below come from Angi’s published pricing for New York City. Costs elsewhere in New York may be higher or lower, and individual projects vary with size, materials, access, and permits.
| Project | Typical Range | Average | Source |
|---|---|---|---|
| Roof replacement | $5,491 to $11,926 | $8,690 | Angi (Jul 2026) |
| Heat pump installation | $4,395 to $10,574 | $7,072 | Angi (Aug 2026) |
| Basement waterproofing | $3,485 to $8,259 | $5,842 | Angi (Jul 2026) |
| Boiler replacement | $3,524 to $7,343 | $5,427 | Angi (Aug 2026) |
Figures are based on Angi’s published estimates. The roof figure is based on a 1,400-square-foot home with about 1,600 square feet of roofing. Multi-zone heat pump systems, larger boilers, and full basement drainage systems can cost well above these ranges.
The table shows estimated monthly payments at a hypothetical 14.99% fixed APR with no fees. The loan amounts are examples, not average project prices.
| Example Project | Loan Amount | 5-Year Loan | 10-Year Loan |
|---|---|---|---|
| Boiler replacement | $7,500 | $178/mo $3,203 interest | $121/mo $7,015 interest |
| Cold-climate heat pump system | $12,500 | $297/mo $5,339 interest | $202/mo $11,691 interest |
| Roof replacement with repairs | $20,000 | $476/mo $8,542 interest | $323/mo $18,706 interest |
| Kitchen or bath renovation | $35,000 | $832/mo $14,948 interest | $564/mo $32,735 interest |
Choosing a longer term lowers the payment but raises the total cost. On the $20,000 roof, a 10-year loan cuts the payment by about $153 a month and adds about $10,164 in interest compared with five years.
Payment examples are hypothetical and are not offers of credit. They assume a fixed 14.99% APR, no fees, and on-time payments over the full term, rounded to the nearest dollar. Actual APRs, terms, fees, and approval vary by lender, loan amount, and the borrower’s credit profile, and 10-year terms may not be available for every project.
Often, yes. New York homeowners may qualify for utility heat pump incentives through the NYS Clean Heat program, and income-eligible households may qualify for NYSERDA’s EmPower+ program. When an incentive lowers the project cost, the homeowner may be able to finance the remaining balance, if the incentive program’s rules allow it and the lender allows financing for the remaining project cost.
Incentives generally require a participating contractor and qualifying cold-climate equipment, and amounts differ by utility, home, and income. Confirm current requirements with the homeowner’s utility or NYSERDA before including an incentive in your estimate.
Federal tax credits under sections 25C and 25D ended for equipment installed after December 31, 2025, according to the IRS.
Homeowners have several ways to pay for repairs and renovations, including savings, home equity loans, state energy loans, and financing offered through their contractor.
| Option | Main Consideration |
|---|---|
| Savings | No borrowing costs, but reduces cash reserves |
| Homeowners insurance | Coverage depends on the policy and claim; deductibles and upgrades may remain the homeowner’s responsibility |
| NYSERDA energy loans | The Smart Energy and On-Bill Recovery loans range from $1,500 to $25,000 for qualifying energy upgrades and require an energy assessment first |
| Home equity loan or HELOC | Uses the home as collateral and can take longer to arrange |
| Credit card or personal loan | Arranged by the homeowner; rates and limits vary |
| Contractor-offered financing | Lets homeowners check participating lender offers while reviewing your estimate, including for projects outside energy programs |
Tell us a little about your contracting business, the areas of New York you serve, and the home improvement projects you handle. We’ll walk you through how our multi-lender financing program works, how customers can explore monthly payment options, and when your business gets paid. We’ll also explain any participation costs and help you get set up with a dedicated financing link you can share with customers.
Yes. Eligible contractors throughout New York, from New York City and Long Island to Albany and Buffalo, can request access to the program. Offers come from a network of 30+ participating lenders, and available offers depend on the homeowner’s credit, income, location, and project. Lender availability for your trade is reviewed when you onboard.
No. Checking offers uses a soft credit check, which won’t impact the homeowner’s credit score. A hard inquiry happens only if the homeowner chooses an offer and applies with that lender.
New York generally requires home improvement contractors to deposit payments received before completion as the Lien Law requires, or to provide a bond, contract of indemnity, or letter of credit instead. If a lender pays your company before the job is done, confirm with your attorney how those funds should be handled under your contract.
Your company isn’t required to finance the project. The homeowner may choose another way to pay or discuss a different project scope with you, and every approval decision is made by the participating lender.
Some can. Participating lenders have different approval standards, and some may consider applicants with credit scores around 570. Income, existing debt, credit history, and the amount requested also matter, and approval isn’t guaranteed.
Depending on the lender, homeowners may be able to finance eligible out-of-pocket costs. Financing is separate from the claim and doesn’t change the homeowner’s obligations under the policy. New York roofers also can’t require a deposit on insurance-funded roofing contracts or promise to pay the deductible.
Pricing depends on your company and how often you plan to offer financing. It’s covered in detail during your demo, and every fee is written into your agreement before you enroll.
The lender collects the loan payments. Under eligible non-recourse programs, the contractor generally isn’t responsible for the homeowner’s missed payments, subject to the agreement. Your company can still have obligations tied to refunds, cancellations, fraud, or disputes.
Contractor Financing Solutions is not a lender and does not make credit decisions. Financing is offered by independent participating lenders. Loan approval, available amounts, APRs, repayment terms, and funding timelines vary by lender, borrower qualifications, and applicable state requirements. Checking available offers uses a soft credit check that won’t impact credit scores; a hard inquiry may occur only if a borrower chooses an offer and submits a full application. Non-recourse arrangements are subject to the applicable lender and contractor agreements and do not eliminate obligations arising from fraud, refunds, cancellations, or contractual disputes. All project costs and payment illustrations are examples, not guaranteed prices or offers of credit.
Estimate potential returns from offering customer payment plans.
Additional Monthly Revenue
Revenue: $90,000 → $120,000
Disclaimer: Results are estimates for illustrative scenario planning only and do not guarantee future revenue, approval rates, or closing percentages. Actual revenue will vary based on customer creditworthiness, project scope, lender terms, and merchant processing fees.
Offer monthly payments to homeowners in three simple steps, without becoming a lender or handling customer loan payments.
Share your link by text, email, estimate, or in person. Homeowners complete one quick application to explore offers from multiple lenders, starting with a soft credit check that won’t affect their credit score.
Every estimate you send without a monthly payment option is a deal you’re leaving to chance. Get started with Contractor Financing Solutions and give your next homeowner an easier way to say yes.
