Our roof is one of the most significant assets of our house. But we often forget about it, especially when it needs repairing or replacing. We end up delaying this process till dangerous warning signs emerge. Whether you need a new roof as an outcome of a planned project or from a damaged roof, it can mean a notable and necessary home investment.
Palmetto Roofers can assist you on the whole process with our capable and certified team.
A roof loan is a personal unsecured loan that gives you a pre-approved amount of money you repay over two to seven years. You can use it to pay for the cost of a roof repairing or a roof replacing. The annual percentage rates vary from 6% to 36%, and it depends principally on your credit history.
The money you may spend on a new roof can vary because of several factors, including:
- The size of the roof
- The type of shingles
- Your home location area
- Wheater – Winter or Summer
These factors can make it hard to save the right amount of money for a project, and that’s where Roof Financing can help. Most times, we are unprepared when roof needs appear. Independent of the motives, here are some reasons to reconsider roofing financing for your roof replacement project.
- Affordable monthly payments: You pay for your roof in amounts you can afford.
- Lower rates than credit cards: It depends on your payment agreement and credit history, but, particularly for homeowners with clear credit, personal loan rates are lower than regular credit card rates.
- Make an upfront payment without interest;
- You can pay the whole loan off (interest-free) any time before the six-month deadline.
- Delay Payments: Some loans let you postpone payments for an established interval.
- Fast funding: With some lenders, you may get your money the same or the next day after approval, but others may take up to a week.
- No collateral: You don’t have to pledge your home or another asset to cover the risk of not repaying the loan.
Types of Financing
There are two types of financing more used these days, the longer ones and the shorter ones.
Shorter loan: In this type of loan, you pay off the debt quickly and possibly pay less interest.
Longer loan: This one ensures you a lower monthly payment and more affordable but with a higher interest in the long run.
If you are a homeowner and need a trustworthy company to come do a free inspection, call Palmetto Roofers today at (864) 686-4050 and we’ll come out asap to help.