Making important decisions is par for the course for any homeowner, including when and how to tackle roof replacement. It could spell the difference between being able to sell your house or not, and whether it protects your family and belongings.
Regardless of why you need roof replacement, it’s going to be quite the investment. And like most homeowners, you’ll need financing to get it done. Here’re the advantages of working with roofing companies that provide their own financing.
Partnered With the Right People
Most roofing companies operate on the principle of direct financing–they provide the terms, rates and other perks that a bank may not offer. So instead, they will partner with a bank or financial institution to provide the financing, and in some cases, offer these loans themselves. This saves you the trouble of finding your own lender to finance your roofing project; your roofing company will do that instead.
Good roofing contractors will work with a financing partner that can help you manage your expenses based on the cost of roof repair or replacement and your budget. It’s important to note that the benefits of company financing usually outweigh that of direct-lender financing.
The financing provided by roofing companies usually offers promos that beat banks as well as lenders. They often get special interest rates from credit unions or banks because of volume lending. They can also pass these benefits along to customers.
Financing Options Your Roofer May Offer
- No upfront payment (keep in mind, upfront payments are often the biggest impediment to pushing through with home improvements – particularly lowering of energy usage.)
- Options that help you save cash for emergencies or investment
- Easy payment options: Payments via the property tax bill are an option
- Low minimum monthly payments (may be subject to credit approval)
- Low interest rate
- Fast credit decisions
- No balloon payments and shady fees.
- Freedom to partial payment on your project and financing the rest
- Fixed terms up to 30 years – you can lock one competitive rate for the long run