Based on Google’s search trends for 2021, we Americans are an insecure lot. Popular searches included “How to be more attractive” and “How to be happy alone.” Practical Twin Cities homeowners might have been overlooked with their more helpful question, “How does roof financing work?” The good news is, it works easily and quickly to get you the roof you need!
No Money? No Problem!
We have all heard the used car hucksters tell us that money worries mean nothing on their car lots. A car is beneficial, no doubt, but it pales compared to a functioning, water-resistant roof. If your current roof on your Twin Cities home is failing, you cannot wait. Roofs are not optional the way satellite radio in the new ride is optional.
Yet when you need a roof, financing can feel like a real obstacle. Roof replacement is not cheap, no matter who does the job. Roofers earn good money for the skilled, hard labor they perform. (You do not want your roof installed by someone with limited skills or work experience, do you?)
The solution really does sound like a used car come-on, but it is true: if you have no money upfront for a complete residential roof replacement, you can finance the entire project through your roofer.
Shocked or Surprised?
When your residential roof fails, are you shocked or are you surprised? You may have had no idea your roof was failing. It may come as an unpleasant surprise, but the effect is shock: how are you going to shell out thousands of dollars for a new roof?
You may be pleasantly surprised to learn that reputable roofers routinely make arrangements with local finance companies to offer attractive loan terms to homeowners:
- 0 percent interest if the whole roof replacement loan is paid in full within 18 months
- You may even arrange to repay the roofing project loan for up to 11 years, lowering your monthly costs
- Easy online applications take mere minutes to complete
- Loan approval can also be won in minutes
How’s It Work?
First, avoid any roofing contractor who insists on full payment before the roof replacement begins. Typically, roofers need one-third of the total estimate to get started. This allows them to order materials and arrange delivery. Then, when the project begins, you pay another third. Finally, when you and the project manager perform a final inspection, the remaining third is paid out.
With convenient roof replacement financing options, you may be able to arrange all parts of those payments — downpayment, project start, and project completion — to be made through a finance company. You could pay nothing out of pocket!
You can get started financing a new roof with a quick telephone call to your local, reliable roofer. Always work with a contractor with a physical presence in your community. That way, you have a place to go for meetings, sign contracts and loan documents, and return if you have any issues with your new roof.
Choose an out-of-town operator, and you may never be able to find them again. Worse, choose a storm-chaser with no physical address, and you have no recourse if the installation is flawed.
Waiting is Bad
If your six-month emergency account is, shall we say, more like six days, you could be tempted to wait on complete roof replacement until you have saved “enough.” This is a terrible idea, for these reasons:
- Roof damage worsens and spreads over time
- You risk your rafters, joists, drywall, and insulation
- Roof leaks do not heal themselves
- You risk your family’s health from mold, mildew, and high indoor humidity
- Once the attic insulation is saturated, incoming water will find your drywall and destroy ceilings and walls
The other fallacy about waiting to pay for a new roof until you have saved up “enough money” is very few hardworking homeowners can do it. With Statista pegging the savings rate at 7.3 percent (the percentage of people tucking money away), more than 93 percent of Americans are not saving money for things like home upkeep, repair, or reroofing.
If, though, you arrange a loan to provide for fast, easy replacement of a failing roof, you build the loan costs into your budget and make affordable payments over time. Payments are affordable and arranged on your terms. Some homeowners like the financial freedom to clear the loan in 18 months. Others feel better stretching the time out so payments are smaller. Midwest Roofing, Siding, & Windows is your trusted, local partner in home improvement for your Twin Cities home. We can handle all your roofing, gutters, insulation, and much more. We are patient, polite, and happy to explain everything, including how roof replacement financing can be easily achieved. Contact us today!