Benefits to Financing with a Roofing Contractor (2023 Update)
It’s no secret that home improvement is expensive. The final price of repairs can range anywhere from hundreds to tens of thousands of dollars, depending on what is being repaired or replaced. Roof repairs and installations are often in the higher ranges of home improvement costs. As a result, a lot of people tend to neglect their roofs, waiting until what was once a minor problem becomes a major problem. Of course, this leads to even more expensive repair or replacement costs than it would have been had they taken care of the issue earlier.
What if there is a need to repair or replace your roof, but there isn’t room in your budget? Enter financing.
Financing takes the edge off of needing to pay a large lump sum for roof repairs and installations.
The way financing works is that a roofing contractor typically partners with a financial institution—such as a bank or credit union—in order to be able to offer you a variety of options to pay for your roofing project. Roofing contractor-partnered financing is a great benefit, because it eliminates the extra steps of having to find your own lender and going through their vetting processes in order to determine your eligibility for a home repair loan.
Here are some other benefits to roofing contractor-partnered financing:
- A lot of flexibility with payment options, so you can choose to pay the way that works best with your budget! Flexibility can mean partially paying the project out of pocket and financing the rest; long-term fixed payment options; no payments at all for the first year after the project has begun; and many more.
- Your roofing contractor can typically offer better interest rates than what traditional banks offer. Through their partnership, the roofing contractor is able to bring more and more new clients to their partner financial institution. In return, the partner financial institution is able to offer the roofing contractor special, lower interest rates that are hard to match—let alone beat—by your average bank. The roofing contractor then passes on that low-interest rate perk to their customers. Everyone wins.
- Faster credit decisions. You can fill out a credit application online, click the submit button, and typically receive a decision within minutes. More often than not it’s faster than going to a normal financial center where your credit decision is at the mercy of the underwriters.
- Lower interest rates! It was mentioned earlier but it needs to be mentioned again because it is such an awesome benefit. The rates are lower than what your typical financial institution offers and hard to beat!
A solid roofing contractor will offer some kind of financing option with their services. It’s a no-brainer to make the already arduous process of repairing or replacing a roof easier on the customer (remove the stress of running from bank to bank applying for a home improvement loan and racking up inquiries on your credit report) while giving them the option of paying how they want to pay (everyone’s budget is different—more options allow you to make a choice that frees up cash for other things in your life).
If the stomach-turning price of a roofing project is what’s been keeping you from taking the plunge, put the Tums away and be at ease! Just head on over to our financing page to submit an application or reach out to us by phone (301-404-8409) or contact form (down below) with any financing questions and/or concerns and we will be happy to answer and clarify!
Benefits to Financing with a Roofing Contractor (2023 Update)
It’s no secret that home improvement is expensive. The final price of repairs can range anywhere from hundreds to tens of thousands of dollars, depending on what is being repaired or replaced. Roof repairs and installations are often in the higher ranges of home improvement costs. As a result, a lot of people tend to neglect their roofs, waiting until what was once a minor problem becomes a major problem. Of course, this leads to even more expensive repair or replacement costs than it would have been had they taken care of the issue earlier.
What if there is a need to repair or replace your roof, but there isn’t room in your budget? Enter financing.
Financing takes the edge off of needing to pay a large lump sum for roof repairs and installations.
The way financing works is that a roofing contractor typically partners with a financial institution—such as a bank or credit union—in order to be able to offer you a variety of options to pay for your roofing project. Roofing contractor-partnered financing is a great benefit, because it eliminates the extra steps of having to find your own lender and going through their vetting processes in order to determine your eligibility for a home repair loan.
Here are some other benefits to roofing contractor-partnered financing:
- A lot of flexibility with payment options, so you can choose to pay the way that works best with your budget! Flexibility can mean partially paying the project out of pocket and financing the rest; long-term fixed payment options; no payments at all for the first year after the project has begun; and many more.
- Your roofing contractor can typically offer better interest rates than what traditional banks offer. Through their partnership, the roofing contractor is able to bring more and more new clients to their partner financial institution. In return, the partner financial institution is able to offer the roofing contractor special, lower interest rates that are hard to match—let alone beat—by your average bank. The roofing contractor then passes on that low-interest rate perk to their customers. Everyone wins.
- Faster credit decisions. You can fill out a credit application online, click the submit button, and typically receive a decision within minutes. More often than not it’s faster than going to a normal financial center where your credit decision is at the mercy of the underwriters.
- Lower interest rates! It was mentioned earlier but it needs to be mentioned again because it is such an awesome benefit. The rates are lower than what your typical financial institution offers and hard to beat!
A solid roofing contractor will offer some kind of financing option with their services. It’s a no-brainer to make the already arduous process of repairing or replacing a roof easier on the customer (remove the stress of running from bank to bank applying for a home improvement loan and racking up inquiries on your credit report) while giving them the option of paying how they want to pay (everyone’s budget is different—more options allow you to make a choice that frees up cash for other things in your life).
If the stomach-turning price of a roofing project is what’s been keeping you from taking the plunge, put the Tums away and be at ease! Just head on over to our financing page to submit an application or reach out to us by phone (301-404-8409) or contact form (down below) with any financing questions and/or concerns and we will be happy to answer and clarify!
