It’s a big purchase. Getting a new roof for your home is a huge investment. You’ve worked hard to keep a roof over your head, and now that roof needs replacing, you might not have thousands of dollars on hand, so you’re stuck asking yourself, “Do roofing companies finance?”. It’s actually pretty normal to wonder if roofing companies offer payment options. Strip away the niceties, and what’s the genuine issue you’re facing? You’re left with, “do roofing companies offer finance options?”
Here’s the good news: some companies do. But navigating financing for big projects like this can feel kind of like you’re on a game show. Lots of options, maybe a little pressure, and you’re not quite sure which door to choose. It is normal to feel overwhelmed when navigating this unknown territory. This article is going to break it down for you. Let’s break down the why, the how, and what to look for when thinking about how to pay for your roof.
Do Roofing Companies Finance?
So you need a new roof, but your wallet isn’t quite as ready. It’s a common problem! A new roof is a big expense. Many homeowners can’t pay for a new roof out of pocket. This is where financing comes in. But do roofing companies finance projects? The good news is they often do.
Many roofing companies understand that financing options help their customers. These companies want to make getting a new roof easier. They may partner with lenders to offer financing plans. This lets you pay for your new roof over time. This could be months or even years.
Why Consider Roof Financing at All?
Roof financing might be a really good choice. A lot of homeowners just don’t have that much cash sitting around to pay for a whole new roof all at once. Life gets in the way; saving up takes time.
Even if your current roof looks ok, don’t wait until you’ve got a leak that soaks your living room. A leaky roof can cause a lot more damage than you might think. If you try to sell your home, buyers and home inspectors are going to notice a roof that is worn out. Replacing your roof with a nice, new roof can boost your home’s curb appeal and probably even get you a better sale price.
Roof financing typically follows a straightforward process. Here’s how it usually unfolds.
Let’s break down a few things. When considering roof replacement, many homeowners aren’t sure how it all works. It isn’t like they hand you a simple invoice. Can I set up a payment plan or is it all upfront? The journey begins now – care to join me?
Can roofing companies offer financing options directly to their customers?
Some roofing companies offer in-house financing which might look like payment plans directly through them. However, most of the time, roofing companies work with third-party lenders who specialize in home improvement loans.
The moment of truth has arrived – what will you do?
At the onset, it’s essential to lay the groundwork, so let’s sort out the prerequisites. You need a roof inspection. And be honest with yourself – how long has it been since your roof was looked at by a pro? A year? Two? Ten? You’d think it was just yesterday, but surprisingly, it’s been decades. Swapping out an old asphalt shingle roof can run you anywhere from $8,000 to $20,000. That’s a huge chunk of change. Having that inspection gives you, the homeowner, an idea of what you are looking at, cost-wise. Plus, it might turn out you don’t need a WHOLE new roof right away. Maybe some repairs will do the trick, which usually are much cheaper.
Think about it: Knowing is half the battle. Once you’ve got a clear picture of your roof’s condition (thanks to a real pro) THEN you can think about next steps. Campo Roof offers free inspections and estimates.
Roof financing is more accessible than you think. Let’s explore some popular options that can turn your vision into a durable, safe, and stylish roof.
So, you’re probably thinking “Do roofing companies finance? Like, what are my options, really?”. Great question.
So, you’re facing a huge home renovation, like a brand-new roof – time to consider your next moves.
Unlock the financial power of your property with a loan that’s anchored to its worth.
Using your home’s equity can be a good way to borrow a large amount of money. “In the United States, a powerful watchdog looks out for fairness in business – the Federal Trade Commission” defines this kind of loan as “a loan for a fixed amount of money that is secured by your home.” But, if you don’t make your payments, the lender could foreclose on your home.
Financing your home improvement project just got easier with FHA Title I Loans, designed to support your renovation goals.
If you’ve lived in your house for more than 90 days and need essential roof work, this might be a great option. Homeowners embarking on renovation adventures will find this designed with their needs in mind, addressing common pain points along the way. They are fixed-rate loans which is nice because your payments stay the same. You can generally get these through a bank or credit union.
Need Cash Fast? Personal Loans Are an Option
Many banks and even credit unions offer personal loans that can be used for home improvements. Check with your local bank or search online, and ask about interest rates as they vary from bank to bank, as well as the term of the loan. Be sure to read all the fine print, and ask a financial advisor any questions so you understand your loan.
Credit Cards
If you’ve got a high credit limit – and a low introductory APR, charging your roof replacement to your credit card *could* work, but do the math first. Sometimes that high interest rate kicks in and you end up paying WAY more in the long run than you expected. If you go this route – make a plan to pay it off quickly.
Feel empowered to cast a wide net – shopping around can lead to incredible discoveries that might just change the game.
It’s essential to take a different approach, one that ditches those overly trendy phrases: interest rates, repayment terms, even how much you can borrow… as all that varies. So while you’re thinking, “Do roofing companies finance?” keep in mind, that even if the roofing company hooks you up with their lender – that may not be the absolute BEST rate or terms for YOU. Take some time and do a little research. It is also important to mention that talking to a financial advisor or credit counselor could be a huge help to you. These pros can often see things you might not, and guide you toward the best choice for your own personal situation.
What credit score is needed for a roof?
Each lender will have their own criteria. It really does vary, so there’s no one answer that applies to every lender out there.
Is a roof an investment?
Replacing a roof doesn’t give you money back directly like stocks would. It’s more about maintaining your biggest asset (your house). A new roof protects that asset. So yes, in a roundabout way, a new roof = a great investment.
So, do roofing companies finance?
We have answered the big question “do roofing companies finance?” They do! A new roof is a huge investment. Be sure you understand all the ins and outs before jumping in. Don’t settle for the first option you come across – explore your choices thoroughly. Being informed as you embark on this home improvement journey means less stress for you in the long run, and a beautifully protected roof over your head for years to come.
Not sure if you need a new roof? Get a FREE estimate here and a team member will be out to assess what needs repaired.
Know you need a new roof, but need financing options? Check out Campo’s options here.
