Owning a Twin Cities-area home is like one of those Choose Your Own Adventure games, where you are constantly on the lookout for answers to problems. How come the toilet is backed up, and my toddler is missing her socks? Why does the central air conditioner make that noise? Where can I get financing for new siding?
Money is Available
As a homeowner, you already have a huge advantage in finding financing for almost anything you need or want. Even if your Twin Cities home is not yet fully paid, you established credit with at least one lender. That helps when you seek a loan to cover roof repair or new siding.
Some sources for borrowing include:
- A credit union
- Your neighborhood bank
- Unsecured debt (credit cards)
- Online lenders
- The contractor handling your siding project
If you have roof or siding damage caused by an accident or act of nature, your homeowners’ insurance will probably cover most of the damage, with you paying a small deductible. Check your insurance policy and talk to your insurance agent.
Contractor Financing
Most reputable roofing and siding contractors can arrange financing through their local business connections. Keeping the financing in-house with the siding contractor simplifies the entire process. Based on your credit history, you may be able to benefit from:
- 0 percent interest if paid in full within 18 months
- Terms up to 11 years
- Approval in minutes
Generally, any major remodeling project is apportioned for payments in thirds:
- One-third of the estimated cost is paid at the time a contract is signed
- One-third is paid at the beginning of the project
- The final third is paid out upon final inspection of the project
If you work with a contractor offering financing, you may not have to put any cash out to start your new siding project. The first third of the payment moves from your lender to the contractor to get the project scheduled and materials ordered. Your first payment to the lender may not be due until weeks later.
Damaged siding does not heal itself. Never let a financial concern put your home at risk. If you need new siding, solutions are a mouse click or telephone call away!To ensure the highest level of craftsmanship for your Twin Cities home, work with Midwest Roofing, Siding & Windows Inc. Contact us today to learn about our siding selection and other services, including roofing, insulation, gutters, and windows.