Because we know how important a sound roof is to a home’s structural integrity and contents, we don’t want you to delay getting a roof replacement when you need one. If your shingles are too old and degraded to keep out the rain, moisture could leak into your house, causing roof rot, mold and mildew contamination; soaking attic insulation and robbing it of its effectiveness and damaging personal belongings. Trying to save money by not getting a necessary roof replacement could end up costing you a lot more than you would have originally paid.
Your Smart Roof LLC will work with you to find a financing solution that fits your budget and timetable. We can direct you to various lenders so that you can compare their terms, including the annual percentage rate, fees, charges and the repayment period. Other ways to finance roofing services include:
- Insurance coverage through your homeowner’s policy, especially if the roof was damaged by a storm, fire, or theft.
- A Federal Housing Administration (FHA) FHA Title I home and property improvement loan. Title I loans, which are offered by banks and credit unions, allow owners of single-family homes to borrow up to $25,000, with repayment terms as long as 20 years.
- A home equity loan. You can generally borrow up to 85% of your home’s equity from a bank or financial institution, using the equity as collateral for the loan.
- A personal loan. A bank, credit union or other financial institution will lend you up to $100,000, but for a shorter period of time than other types of loans.