Welcome to EZ Cash's general questions and answers section. Each week we update the list to reflect the most commonly asked questions. These questions come from people like you. We hope you find them helpful and informative.
Please let us know if you encounter any problems or have suggestions. To send a comment, go to our contact us page and send us an email. Please use the word FAQ in your comment.
If you don't find the answer to your general question below, please call our toll-free line at
1-877-25-PRICE.
Q: What is EZ Cash?
A: E-Z Cash is a new and innovative way for Landscape Contractors to provide financing for their residential landscaping projects. It allows you, the homeowner, to take advantage of low monthly payments rather than one large upfront fee. Giving you the ability to build the landscape of your dreams.
Q: What can E-Z Cash pay for:
A: E-Z Cash can be used for anything related to landscaping. Such as: retaining walls, paver patios, landscape lighting, sprinkler systems, lawns, trees, shrubs, even outdoor furniture and tools.
Q: How long does the process take?
A: Approximately 3 business days after completion on the loan application. However, this time may vary based upon what type of financing program you request.
Q: How long has this program been around?
A: Officially launched by Price Financial Services, Inc. in the summer of 2006, E-Z Cash is the culmination of over 4 years of research and development.
Q: What type of payment plans are available through E-Z Cash?
A. We offer a full range of payment plans, from 2 to 15 years.
Q: What is the interest rate on the loan?
A: The interest rate will vary due to the applicants credit score and type of loan.
Q: What are the total costs to me to do this program?
A: There is no out of pocket expenses. All closing costs and related fees are financed into the loan amount.
Q. Will interest on my Home Equity Line of Credit be tax-deductible?
A. The interest on most consumer credit (auto loans and credit cards, for example) is not tax-deductible. Home equity credit is an exception. Why? Because it's secured by your home. This classifies it as mortgage interest, which is usually 100% tax-deductible. According to the tax laws, interest on up to $100,000 of debt, secured by the equity in either your principal residence or second home, is fully deductible. Every rule has exceptions, of course. So check with your tax advisor first.
Q. What is equity?
A. A simple definition is equity equals ownership. It's the portion of your house that is actually owned by you (not your mortgage company). A more accurate definition of home equity is the difference between your home's market value and your loan balance.
Q. What is loan to value (LTV)?
A. Compares your total loan balances outstanding to the appraised value of the property. For Example:
Appraised Value = $100,000
1st Mortgage Balance = 80,000
Loan to Value% = 80%
Q. What is the maximum loan to value on a home equity line of credit?
A. Our maximum loan to value is 100% of your home's fair market value. Some restrictions apply.
Q. How much will I have to pay in closing costs on a home equity line of credit?
A. It depends based on the product you choose but ranges from $695-$1095.
Q. What types of loan programs do you offer.
A. We offer installment loans, home equity, line of credit, and residential mortgages.
Q. Where do I close my loan?
A. Your loan will be closed by a closing agent at a location convenient to you, often we can even close in your own home.
Q. Is there an annual fee?
A. There is no annual fee.
Q. How long does it take to close?
A. Depending on the location of the property it normally can take 1-2 weeks to close on a Home Equity Line of Credit. The Installment loan will take less than 3 business days.
Q. Is there a prepayment penalty?
A. You can payoff your loan anytime without penalty, however if you close your account within 3 years any third party fees associated with your loan will need to be paid back.
Q. Once the loan is closed, how do I get my cash?
A. A checkbook will be mailed to you for writing checks on your line of credit.
Q: What if the project costs more than what we agreed to?
A: We suggest the you request 10 to 15% more on the loan than what the project will cost, this way you will have the extra money for overruns. If the project is running higher than quoted, you should require your Landscape Contractor to put it in writing for you to sign-off. Also, your Landscape Contractor will need to submit a new bid sheet with your approval signature.
Q: What if the project costs more than the loan amount?
A: You and the Landscape Contractor need to resolve this situation. We suggest the borrowing 10 to 15% more than needed in case this does happen.
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