So you’ve decided to install a new roof. Whether your hand was forced or it’s something you’ve been considering for some time, a new roof is an excellent investment in your property. The combination of improved curb appeal and functional durability will no doubt help boost your home’s value.
With all that said, buying a new roof, especially if you weren’t planning on the project, can be an expensive pill to swallow. With such a large unexpected expense, you might not have funds set aside to cover the cost. So what should you do? No, you shouldn’t put it off, as that could result in even more expensive repairs. What about financing? Do roofing companies offer financing? There is no universal answer to this question, but here is everything you need to know.
Every Contractor Is Different
Regardless of the specific trade industry, you’re sure to find a full spectrum of contractor sentiments towards financing. They range from all jobs cash or check only, to 90%+ of jobs including some level of financing. In short, every service provider is different. If you suspect that you will need financing options, the best bet is to contact your preferred contractor and discuss the options he or she has available.
In our efforts to make working with us easy, Charlotte Roofing Specialists can certainly help connect you with some financing options. While we always recommend you perform some research on your own to determine your budget, assess your financial circumstances, etc. CRS would be happy to help you through our simple financing process. We can offer financing on most projects depending on size and a handful of other factors. If you’re interested, please give our customer service staff here at Charlotte Roofing Specialists a call.
Third-Party Lenders
Most contractors that offer financing options are not financing your project themselves, but rather through a third-party lender. This allows contractors to offer multiple financing products without needing the millions of dollars in the capital it would take to offer such varied financing options. The third-party lenders have the capital but need the homeowners that could benefit from their services. The contractors and third-party lenders work together to help their mutual customer (the homeowner) get the services they need performing and financing. If you are unsure if a contractor offers to finance, check out their website first, and if you don’t find the answers you need, give the contractor a call. Don’t automatically assume financing is offered.
Just because a contractor provides financing, doesn’t necessarily mean that is your only financing option. You may have additional third-party lending options and might discover you can obtain a more favorable interest rate or lending specs from your own third-party lender than you can with a contractor or his/her offering.
For starters, you can begin by discussing financing options with your bank. Most banks offer a variety of home improvement loans. With home prices increasing at such a rapid pace, using some of the equity in your home might be a lower interest option than contractor financing. Banks see this as an investment in your home, so may be more likely to lend you money for say, a roof replacement, than they might be for a new sports car!
There are always a handful of ways to secure financing for a new roof, so learn what your options are and determine what might be the best for you.
Secure a Quote
If securing your own third-party financing, it is good to secure a rough quote for the new roof before seeking out the loan or other financing options. This way, you’ll at least know approximately how much the new roof is going to cost and how much you’ll need to ask for the project if financed. If you would like a roof replacement estimate for this purpose, just reach out to our team here at Charlotte Roofing Specialists and we are happy to help. We can then visit your home to assess the project scope before sending you an estimate. Keep in mind that construction cost increases are constant right now, so it is advisable to stay informed of the timing of quote validity.
If you need help with any of this, the best way to get that ball rolling is to head to the homepage of our website and request an estimate. We will get back to you quickly.
Let us Help Finance Your New Roofing Project
There are several ways you can obtain financing for your new roofing project. You can talk to your bank and find out the available options, which can range from taking out a home improvement loan to using the value of your home as collateral. Third-party financial services, depending on your credit, maybe a viable option as well.
At Charlotte Roofing Specialists, we can also work with you in securing financing because we want to make sure you have a well-installed new roof. You shouldn’t be forced to put off a new roof installation just because you don’t have all the funds lined up right away.
Your best option is always to look around and determine which will be the best financial option for you. Whether it is our financing services or a third-party lending company, we want to make sure that you secure desirable financing and have an expertly installed roof as well. So whether you already have financing lined up or are interested in learning more about what we offer, give our customer service staff at Charlotte Roofing Specialists a call.