How to Pay For Your New Roof
A new roof is a major investment in your home. According to Home Advisor, roof replacement costs range from $5,000 to $10,000 for the average homeowner. Delaying replacement can lead to leaks, which damage the structure of the home. Fortunately, financing options are available for those who need a new roof.
GreenSky Financing
This loan company offers a direct payment card for home improvements such as roof replacement. When you are approved for GreenSky Financing after completing an online application, you’ll receive a card with a limit of up to $55,000 and interest rates starting at just 4.99%. This allows you to make purchases for your home and pay them off over time. More than 1.7 million homeowners have successfully used this company for home repairs.
Service Finance Company
Traditional installment loans to pay for your new roof are available through Service Finance Company. This type of funding does not require money down and offers flexible payment options. You can pay off your loan early with no prepayment penalty. Specials are available for qualified applicants, such as 0% interest for 12 months.
Home Equity
If you have equity in your home, you can apply for a loan or line of credit to finance a new roof. Credit checks are usually not required for home equity loans and credit lines. You can usually access a low-interest rate and flexible payments. This is ideal for homeowners who have been living in the property long enough to build equity.
Cash-Out Mortgage Refinancing
Homeowners who are thinking about refinancing their mortgage can take cash out for home repairs. If you need a new roof and want a lower interest rate on your home loan, this route is worth exploring.
The team at Novalis Roofing is happy to help you select a new roof that fits your needs and your budget. We can also facilitate your financing application with Service Finance Company or GreenSky Financing. Our business has been serving homeowners in Chatham and surrounding areas since 1940. Contact us today by calling 973-635-1165 or sending an email to jnovalis@novalisroofing.net for your free estimate.
