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Roof Financing
Can You Finance A New Roof?
How Financing A Roof Can Be a Good Idea
It’s easy for homeowners to forget about or delay repairing or replacing a roof until significant warning signs force a repair. At other times, severe weather can cause significant damage to your roof with high winds or even send a tree branch through your roof causing significant damage.
If you’ve budgeted funds for roof maintenance or repairs, that would be great but most homeowners are left without sufficient funds for this type of roof emergency. Even when your roof project is covered by your insurance, you may still have an unexpected deductible to pay. Or you may desire to upgrade your roof to a high-quality roofing material.
Here are some reasons to take advantage of roofing financing for your roof repair or roof replacement project.
Low Monthly Payments
As an independent roofing contractor, the financing that we offer through Hearth can benefit you by providing low monthly payments. This enables you to pay your roof off in installment amounts that are affordable and keeps you from having to pay thousands of dollars for a roofing project in one lump sum.
Delaying Payments
There are loans that will allow you to put off making the payments for a set period of time. After that time is up, you will begin making the regular payments at the fixed interest rate. This option is preferred for situations where you would rather hang on to the cash but still need to get started on the roofing project.
Save Time With Quick Approval
Thanks to our modern technology, applying for roof financing can be an easy process. You are able to apply online or make a quick phone call, completely doing away with all the hassle of paperwork. When the application is complete and submitted, you should be notified about your approval within minutes.
Deferring Upfront Payments Without Interest
Now homeowners are able to delay a lump sum payment and also avoid the interest. Consider the 0% financing option. Loans that offer six months of no interest and no payments are perfect for you to defer making payments at all during the first part of the loan Of course, you can pay the loan off (interest-free) any time before the six-month are up.
How To Apply for Financing
Financing with Ygrene
Ygrene offers an alternative way to finance energy-efficient and renewable energy upgrades for residential and small commercial properties in Florida. Depending on where your property is located, it may also be eligible for upgrades that help conserve water and protect against storm damage.
As a leading Property Assessed Clean Energy (PACE) provider, Ygrene allows you to leverage the equity in your property to make it even better. Ygrene offers unique advantages including low, fixed rates, zero down, and no prepayment penalties. PACE is different from many other financing options because the financing acts as an assessment on the property. Approvals are based primarily on home equity, among other factors. The financing uses your property as collateral, and a first priority lien will be placed on your property ahead of other liens including mortgages. The financing is repaid over the financing term through your property taxes.
Roof Financing Through Acorn Finance
Financing Details
Low monthly payment plans
Quick online approval with no paperwork
No impact on your credit score
Access to multiple lenders to compare the best rates and terms
Funding available in as little as one business day after approval
No prepayment penalties for early payoff
How to Apply
Apply directly on the link below!
HELOC Roofing Financing (Valley Bank)
Financing Details
Home Equity Line of Credit (HELOC) specifically for roofing projects
Extremely low interest rates compared to credit-based and PACE financing
Fast and streamlined approval process
Ideal for homeowners with strong equity looking for long-term savings
How to Apply
Call Brian Lynott, Senior Vice President: 561-215-0201
Email: Blynott@valley.com
PACE Financing Through Renew Financial
Financing Details
Payments are made through your property taxes
Eligibility based primarily on home equity and income, not credit score
No money down required
First payment may be deferred up to 18 months after project completion
Competitive interest rates that may be lower than traditional financing
Approval based on property equity rather than credit
Dedicated customer service team throughout the loan and roofing process
How to Apply
Call Renew Financial toll-free: 844-RENEWFI (844-736-3934)
Apply by clicking the link below!
Finance Your Next Roofing Project
- The size and complexity of the roof
- The type of roof shingles, metal, or tile used
- The roofing contractor hired, since labor rates vary among pros
- Your geographical area
Roof Financing Terms Explained
- The principal represents the total amount of money borrowed at the start of the loan.
- Interest is the cost of your loan in addition to the principal amount.
- The term refers to the amount of time you have to pay off the loan. It’s usually expressed in months or years.
- APR (annual percentage rate) determines how much the lending company is charging you for the loan of the money. It may or may not include fees, and it doesn’t include the compounding effect of interest — most interest compounds monthly. APR is a useful tool for comparing loan products.
Frequently Asked Questions
How long can you finance a roof for?
A lot of homeowners choose to go with a 120-month term or longer. Loan terms do vary by lender. Having a shorter loan term means you can likely pay less in interest, but the longer terms enable you to have the option of more affordable monthly payments
Can roofers offer a payment plan?
Some independent roofing contractors are able to, yes. Talk to your company representative to ask about payment plans to make your roof replacement more cost-effective. Any payment plan will vary.
Will my insurance pay for a new roof?
If your home has experienced damage from severe weather, then it might apply. But it will depend on things like your policy and the cause of the damage. You’ll want to contact your roofer to get their input on the damage and they can work with your private adjuster.