GreenSky Financing: How It Works, What It Costs & Who Qualifies
GreenSky® financing is a point-of-sale loan program that participating contractors offer for roofs, HVAC systems, windows, solar and remodels. Here is how the plans work, the credit it usually takes, and the one deferred-interest detail that surprises borrowers.
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The program at a glance
Key facts from GreenSky® program materials and public filings.
- Loan typeUnsecured installment
- Where you applyThrough a participating merchant
- Promotional plansOften 6–24 months
- Longest termsUp to 10 years (select plans)
- Credit checkHard pull to apply
- Who lendsFederally insured banks
This site is independent and not affiliated with GreenSky, LLC. The form below connects you with a third-party lender network.
Check Home Improvement Financing Options in Minutes
GreenSky® loans are only available through a participating contractor. If your contractor does not offer GreenSky, or you want to see how other lenders compare before you sign, you can request offers here.
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- Use funds for roofing, HVAC, windows, solar, remodeling and more
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This form is operated by a third-party lending network. It is not a GreenSky® application and does not come from GreenSky, LLC. Lenders in the network may check your credit. Approval, amount, APR and term are set by the lender and are not guaranteed.
GreenSky Financing Questions, Answered Fast
What Is GreenSky Financing?
GreenSky financing is a consumer loan program run by GreenSky, LLC. A participating contractor offers it when you buy a project, a federally insured bank makes the loan, and GreenSky Servicing, LLC handles billing. Most plans are unsecured installment loans, and many start with a deferred-interest promotion.
GreenSky, LLC was founded in 2006 in Atlanta by David Zalik. It does not lend its own money. Instead it runs the technology that connects three parties: the merchant that sells the project, the bank that funds the loan, and you. Loans are serviced under GreenSky Servicing, LLC, which is licensed under NMLS #1416362.
The program is best known in home improvement, where contractors use it to offer financing on the spot. It is also used for solar installations and for elective healthcare through GreenSky Patient Solutions®. The company traded on Nasdaq from 2018 to 2022, was bought by Goldman Sachs, and in 2024 was sold to an investor group led by Sixth Street.
How GreenSky Financing Works
From quote to final payment, the process runs through your contractor rather than a bank branch.
Get a quote from a participating contractor
The merchant must be enrolled in the GreenSky® program. They will tell you which plans they carry, such as a 12- or 18-month promotion or a fixed-rate plan.
Prequalify or apply
Some merchants start with a soft-pull prequalification. The full application is completed online, in the GreenSky mobile app, or by phone with a program representative. Paper applications are not accepted.
Receive a credit decision
Decisions are usually returned within minutes. Approval, credit limit and APR are set by the participating bank, not by the contractor.
Authorize payments to your contractor
After approval you receive an account number. Funds go to the merchant when you authorize a charge, and larger jobs can use staged funding for deposits and progress payments.
Repay GreenSky Servicing
You make monthly payments through the official portal, app, phone or mail. On a deferred-interest plan, clearing the balance before the promotion ends is what keeps interest at zero.
GreenSky Plan Types and Interest Rates
Merchants choose which plans to offer, so two contractors can present very different terms. These are the main structures you will see.
| Plan type | How interest works | Typical length | Best for |
|---|---|---|---|
| Deferred interest (“same as cash”) | Interest accrues from day one but is waived if the full balance is paid before the promo ends | 6–24 months | Borrowers who can clear the balance on schedule |
| Reduced-rate | A fixed promotional APR below the standard rate for the life of the loan | Several years | Larger projects paid off over time |
| Fixed-rate installment | Standard fixed APR with equal monthly payments | Up to 10 years on select plans | Predictable payments and long terms |
| Low monthly payment promo | Reduced payment for a set period, then standard amortization | Varies by merchant | Short-term cash-flow relief |
Plan availability and APRs are set by the lender and merchant. Your loan agreement is the only source for your exact terms.
What Happens If You Miss the Promo Deadline?
On a deferred-interest plan, paying only the monthly minimum can leave a balance when the clock runs out. Here is what that costs.
Promo starts. Interest begins accruing in the background at the standard APR.
Pay at least amount ÷ promo months, not just the minimum due.
The balance on this day decides everything.
All accrued interest is waived. You paid nothing extra.
Interest accrued since day one is added to the account, and standard APR applies going forward.
Deferred Interest Calculator
Move the sliders to see whether a promotional plan ends at $0 interest or with back-dated interest added.
Estimate only. Assumes interest accrues monthly on the declining balance at the standard APR and is charged in full if any balance remains when the promotion ends. Actual plan terms vary by lender.
What Can You Finance With GreenSky?
GreenSky merchants cover most major home projects. The project has to be sold by an enrolled merchant; you cannot use the loan at any store you like.
Roofing & sidingRoofing
Full replacements, storm repairs, gutters and siding.
Heating & coolingHVAC
Furnaces, central air, heat pumps and water heaters.
Windows & doorsWindows
Replacement windows, entry doors and patio doors.
EnergySolar
Panels, batteries and energy-efficiency upgrades.
RemodelingKitchens & baths
Cabinets, countertops, flooring and bath conversions.
Outdoor livingPools & outdoor
Pools, decks, fencing, landscaping and sunrooms.
Credit Score Needed for GreenSky Financing
GreenSky does not publish a minimum credit score. Third-party sources report that approvals usually start around the low-to-mid 600s, and that most GreenSky loans go to borrowers with scores of 700 or higher. A higher score generally unlocks longer promotions and lower APRs.
The participating bank looks at more than the score. Expect questions about income and housing, and a check of your existing debts. NerdWallet notes that documents such as bank statements or W-2s usually are not required up front.
- Prequalification: soft inquiry, no score impact, offered by some merchants
- Full application: hard inquiry that appears on your credit report
- Co-applicant: adding one can help if your own profile is thin
GreenSky Financing Pros and Cons
Advantages
- Apply and get a decision at the kitchen table, often within minutes
- No home equity needed; the loans are unsecured
- Deferred-interest promos can cost $0 in interest if paid on time
- Terms up to 10 years on some plans keep payments lower
- Large limits compared with many credit cards
Drawbacks
- Only available through participating merchants
- Deferred interest is charged back to day one if any balance remains
- Merchant fees can be built into the project price
- Hard credit inquiry on the full application
- Past complaints about loans set up without clear consent
Who GreenSky Financing Is Best For
The same plan can be a bargain for one household and an expensive mistake for another. The difference is almost always whether the promotional balance gets paid off in time.
A good fit if you…
- Have good-to-excellent credit and stable income
- Can pay the full amount within a 12–24 month promotion
- Need an urgent repair, such as a failed furnace or leaking roof, and trust the contractor
- Have little home equity and do not want to borrow against the house
- Prefer one application handled at the point of sale
Think twice if you…
- Can only afford the minimum payment on a deferred-interest plan
- Want to compare several contractors or buy materials yourself
- Have strong equity and a large, long-term project, where a HELOC may cost less
- Are being pressured to sign the same day
- Are not sure which plan number or end date you are getting
7 Tips for Using GreenSky Financing Wisely
1. Get the plan in writing
Ask for the plan name, promotional length, the date it ends and the standard APR that applies afterward. If the contractor cannot tell you, do not apply yet.
2. Ask for the cash price
Merchants pay fees to offer promotional financing, and some fold that cost into the quote. A higher financed price is a hidden borrowing cost.
3. Apply on your own device
Enter your own information and read the disclosures yourself. It is the simplest protection against the unauthorized-loan problems regulators found in 2021.
4. Use prequalification
If the merchant offers GreenSky's soft-pull prequalification, use it first. You only take the hard inquiry once you know roughly what you qualify for.
5. Pay the real payment
On deferred interest, divide the amount financed by the promotional months and set autopay to at least that figure, not the statement minimum.
6. Authorize in stages
On larger jobs, approve payments as work is completed. Keep every text or email confirmation in one folder.
7. Compare one outside offer
A personal loan, credit union loan or HELOC quote gives you a benchmark. Even if you choose GreenSky, you will know the plan is competitive.
Need a benchmark rate?
Request offers from a lender network in minutes and compare them with your contractor's plan.
Check My OptionsGreenSky Patient Solutions
Outside home improvement, GreenSky runs a healthcare version of the program called GreenSky Patient Solutions®. Participating providers, typically for elective procedures such as dental work, cosmetic treatment or hearing and vision care, offer it at the front desk the same way a contractor would.
The mechanics are the same: you apply through the provider, a participating bank makes the credit decision, payments go to the provider, and many plans are deferred-interest promotions. Patient Solutions accounts have their own customer service line at 844-810-7713.
If you are comparing healthcare financing, the same rule applies: know the promotional end date and pay enough each month to clear the balance before it.
GreenSky Patient Solutions in detailPatient Solutions at a glance
- Offered by
- Participating healthcare providers
- Common uses
- Dental, cosmetic and other elective care
- Funds go to
- The provider
- Phone
- 844-810-7713
GreenSky Company Timeline
Knowing who owns and funds the program helps explain why it has stayed one of the largest names in contractor financing.
| When | Milestone |
|---|---|
| 2006 | GreenSky is founded in Atlanta by David Zalik |
| 2012–2016 | Nearly $5 billion is lent through the program |
| 2016 | Raises $50 million at a $3.6 billion valuation; sets up a $2 billion lending arrangement with Fifth Third Bancorp |
| 2018 | Lists on Nasdaq under the ticker GSKY |
| 2021 | CFPB consent order over loans merchants set up without consumer authorization |
| 2022 | Acquired by Goldman Sachs and taken private |
| 2024 | Goldman completes sale to a group led by Sixth Street with KKR, Bayview Asset Management and CardWorks |
| Today | Funds loans through bank partners, rated home improvement securitizations and a roughly $3 billion PGIM forward-flow facility |
Sources: Wikipedia, CFPB, KBRA and PGIM.
GreenSky Login, Payments and Customer Service
Most people searching for GreenSky already have a loan. Use official channels only; this site cannot see or change your account.
Payment & login
The official customer portal, guest payments, autopay and the mobile app.
Account helpCustomer service
Consumer line 866-936-0602, hours, email and live chat details.
All contact optionsScams & disputes
How to spot fake portals and what to do about a loan you did not authorize.
Protect yourselfIs GreenSky Legit?
GreenSky is a legitimate, long-running program. Its loans are made by federally insured, federal or state chartered banks, and the company has been owned by Goldman Sachs and, since 2024, by a consortium led by Sixth Street.
Regulatory history: In July 2021 the Consumer Financial Protection Bureau found that GreenSky enabled merchants to take out loans that consumers had not requested or authorized. The consent order required GreenSky to refund or cancel up to $9 million in loans and pay a $2.5 million civil penalty.
The practical lesson: never let a salesperson complete the application for you, read the plan terms before you authorize a charge, and check your statement for anything you did not approve.
Complaints & how to protect yourself
GreenSky Alternatives Worth Comparing
If your contractor does not offer GreenSky, or the plan on the table is not a good fit, these are the usual options.
| Option | Typical amount | Secured? | Worth knowing |
|---|---|---|---|
| GreenSky® program | Up to $65,000–$100,000 | No | Merchant-only; deferred-interest promos common |
| Personal loan | Often $1,000–$100,000 | No | Funds go to you; use any contractor |
| HELOC / home equity loan | Based on equity | Yes, by your home | Lower rates; usually needs 15–20% equity |
| Hearth | Up to $250,000 | No | Contractor marketplace of lenders |
| Wisetack | Up to $25,000 | No | Contractor point-of-sale financing |
| 0% intro APR card | Card limit | No | Works for smaller jobs you can clear fast |
Amounts are typical ranges from public sources and vary by lender.
Frequently Asked Questions
What is GreenSky financing?
GreenSky financing is the consumer loan program administered by GreenSky, LLC, an Atlanta fintech company. Participating contractors and healthcare providers offer it at the point of sale, the loan is made by a federally insured bank, and GreenSky Servicing, LLC services the account. Most loans pay for home improvement projects.
Can I apply for GreenSky financing without a contractor?
Generally no. GreenSky applications are tied to a participating merchant, and the funds are paid to that merchant rather than deposited in your bank account. If your contractor does not offer GreenSky, you will need a different option, such as a personal loan, a HELOC or another contractor financing program.
What credit score do you need for GreenSky?
GreenSky does not publish a minimum score. Third-party sources report that most approved borrowers have scores of roughly 640 and up, and many loans go to applicants in the 700s. Income, existing debt and the size of the project also matter.
Does GreenSky do a hard credit check?
Yes. A full application triggers a hard inquiry. Some merchants offer a GreenSky prequalification step that uses a soft inquiry first, which does not affect your score.
Is GreenSky financing 0% interest?
Many GreenSky plans are deferred-interest promotions. Interest is calculated from day one, but it is waived if you pay the full balance before the promotion ends. If any balance remains, the accrued interest is added to the account. Other plans charge a reduced fixed rate or a standard APR from the start.
How much can you borrow with GreenSky?
GreenSky program brochures have listed credit limits up to $65,000, and some current contractor programs cite limits up to $100,000. Your limit depends on the lender's credit decision and the merchant's plan.
How do I make a GreenSky payment?
Pay through the official customer portal linked from greensky.com, through the GreenSky mobile app, by phone at 866-936-0602, or by mail using the address on your statement. This site cannot take or process payments.
Who owns GreenSky now?
Goldman Sachs acquired GreenSky in 2022 and sold it in March 2024 to an investor group led by Sixth Street that also includes KKR, Bayview Asset Management and CardWorks.
Is GreenSky a legitimate company?
Yes. It is a real, long-running program backed by chartered banks. It has also drawn regulatory action: in 2021 the CFPB ordered GreenSky to refund or cancel up to $9 million in loans that merchants set up without consumers' authorization and to pay a $2.5 million penalty.
Ready to Compare Home Improvement Financing?
Request offers from a network of lenders in a few minutes, then decide with the numbers in front of you.
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Sources: GreenSky, GreenSky Contact, CFPB, Wikipedia, American Bankers Association, PGIM, NerdWallet, Credible.