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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Microf's loan


How to apply


To apply for an HVAC lease with Microf, you will need to:

  • Be a homeowner,

  • Provide proof of income,

  • Have a homeowner's insurance,

  • Have no recent bankruptcies,

  • Have an active bank account.

You cannot qualify for an HVAC lease from Microf if you are a renter of a house or land, involved in reverse mortgages, or a person renting your property.

The lease-purchase options Microf offers for HVAC are available to customers with credit scores under 680.

The documents you need to provide Microf for an application are:

  • Social Security Number or ITIN,

  • Bank account and routing number,

  • Pay Stubs or bank statements.

How to apply for a loan

On the main page of the Microf website, tap the button "Apply Now." You will be redirected to the pre-qualification form. Choose whether you are a homeowner or a contractor/returning customer. The first option means you don't have an account with a company. Provide your email address. Microf will use this email to log you in after completing your application or if you have to finish the application later. Click Continue and create a password. Fill in your name and phone number, and then state the address you will be making the home improvement. State your date of birth and add the last four digits of your Social Security Number.

After that, you can start filling in your application. Fill in your personal information and the type of project you would like to lease: air conditioner or heating, water heating, air conditioner or heating, plus water heating. Answer the household questions and the equipment in your home, and provide the total job price for the project and the requested lease amount. Then enter your financial details: Monthly Net Income, Your Bank Account Routing Number, and Your Bank Account Number. If you have a co-applicant, you will need to fill in their details.

After you submit an application, Microf will review the details and state whether you are eligible for their service.


How long does it take Microf to review my application?

The company reviews your application and approves it shortly after you complete the application containing all the required documents.

Can I get a Microf loan if I have bad credit?

Microf has a practice of approving applications with damaged or poor credit. However, you will need to have a valid banking account proving you can pay the lease back.

How much can I borrow from Microf?

The company doesn't state the maximum amount you can borrow. However, the minimum sum you can borrow is $2,500, and for agreement renewal, the minimum amount is $3,000.

Calculate loan payments in Microf

Microf calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

3000 $
5000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with Microf

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Microf and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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