Roof Financing in Central Florida

If your roof replacement was the outcome of a planned construction project or a result of unexpected events, the roof could be a necessary but essential home investment. A roof can help protect your family and home safe from weather and other elements.

You can finance your next roofing project.

The cost of installing a new roof is a lot of a variation because it is contingent on several variables, which include:

  • Size of the roof
  • Roof style and sophistication and
  • The type of roofing shingles that are used
  • Other roofing materials, for instance, synthetic roofing underlayment vs. felt
  • A roofing contractor is hired to complete the job because prices for labor differ among pros
  • Your geographic area

These elements make it hard to fund a roofing project with precision, and this is where financing for roofing can be helpful.

Roof Financing explained

Before we get into the main motives homeowners use for financing their roof, Let’s go over some of the most common terms used by the lenders:

The term refers to the length of time you must pay back the loan. It’s typically expressed in terms of months or years.

An APR (annual percentage rate) is the amount that the lender charges you to loan the funds. It could or might not contain fees and doesn’t include the compounding effects of interest. Most interest is compounded every month. APR is an effective instrument for comparing loan products.

Principal refers to the total amount of loaned funds at the time of the loan.

The interest cost is the amount you pay for your loan that is greater than your principal sum.

How Roof Financing can be an excellent idea

It’s easy to lose track of your roof. And homeowners tend to put off fixing or replacing a worn-out roof until warning signs appear. In other instances, Mother Nature may wreak destruction on your roof or even send a stray tree branch that can cause defeat.

If you’ve accumulated an account to cover roof repairs and maintenance, it’s excellent, but there are times when we’re unprepared when roof repairs are required. Even if your insurance policy covers the damages, you could face a substantial deductible not within your budget. It could be that you decide to replace your whole roof with modern and better materials rather than make repairs.

Many independent roofing contractors within our Contractor Network offer financing options for their customers. Here are some excellent reasons to consider financing roofing to finance your roof repair or replacement project.

Get low monthly payments.

If you finance a new roof with an independent roofing company in the Roofing Contractor Network, you will be able to enjoy low monthly payments. This lets you pay for your roof in installments you can afford and prevents you from paying for a multi-thousand-dollar roof project in one lump sum.

Based on the terms of your loan and credit score, you could get low-interest rates for the duration of the loan, depending on your credit history and payment terms.

For instance, an unsecured renovation loan for homes of 10,000 over 120 months will result in an affordable monthly payment of $132, with a 9.99 APR of 9.

Pay off an upfront payment deferred without the risk

Homeowners who want to wait the amount of their lump sum payment and keep out interest should look into loans that offer zero-interest financing upfront and no penalties for prepayment.

Installment loans with six months of interest-free and with no monthly payments allow you to put off making payments for the first portion of your loan.

You can pay the whole loan in full (interest-free) before the deadline of six months or start making the monthly payments at the current interest rate.

Delay Payments

Certain loans let you delay making payments for a specified time. After the period is over, then you’ll be able to begin regular payments with the fixed rate. This is particularly helpful in circumstances where you need money but want to start the roofing project as quickly as possible due to safety or other reasons.

Quick Approval Process

Financing your roof can be a simple smooth process, thanks to the advancements in technology. The applicant can request financing online, using the mobile app, or even call in and eliminate the need for paperwork. You’ll need to sign the electronic signature. After submitting your information, your approval notices will usually be delivered within minutes.

Roof Financing during COVID-19

Because of the adverse financial consequences of COVID-19, it’s now more crucial than ever to make choices regarding being capable of paying for a significant home purchase like a brand new roof. Roof financing can help secure your investment and keep your family secure without the hassle of paying large lump-sum sums.

A good investment with attractive returns

According to the 2019 report on the effects of remodeling by NARI, the National Association of the Remodeling Industry (NARI) According to the report, the impact of installing an entirely new roof could be substantial. Homeowners could recover 107 percent of the cost following the installation when they decide to sell their house.

In the same study, it was discovered that new roofs were ranked top on the lists of prospective buyers, so If you’re planning to sell your house shortly, it could be that a new roof will aid in selling it quicker and bring in a higher price.

If you decide to finance your roofing, it gives you the most beneficial of both worlds. You can put money into your home’s future, fix existing roofing issues and obtain the roof you’ve always wanted at a cost you can pay for.

Find out more information on financing for your roof by an independent roofing contractor who is part of our Roofing Contractor Network close to your home.

FAQs

What is the maximum amount you can finance the cost of a roof?

The terms for loans are likely to differ from lender to lender. The shorter loan terms will mean that you pay off your debt faster, likely having lower interest rates. However, more extended periods mean the monthly installment is minor and more manageable.

Although you may pay more interest in the long haul, many homeowners prefer 120 months or more to ensure that the payments are inside their spending budget.

Do roofers provide payment plans?

Yes. Certain roofing contractors within Roofing Contractor Network offer payment plans that can help make roofing replacements more affordable.

Payment plans differ based on conditions, interest rates, and terms. Therefore it is essential to inquire with the roofing company you’ve got in your mind for specifics.

Does my insurance cover the cost of a new roof?

It’s dependent on the policy you have and why you need an upgrade to your roof. If it’s due to a weather-related incident, the homeowner’s insurance policy could apply. If you’re seeking to replace it due to its age or increase its resale value, homeowners insurance won’t help with the expense.

 

About Gold Key Roofing

Our highly trained, certified roofing professionals inspect, test, evaluate and calculate all the necessary data from your project to provide your home with the ultimate protection – providing you with time-tested peace of mind.

In an industry where many roofers are in business today and out-of-business tomorrow, it is unusual to find a company like Gold Key Roofing with our experience and proven record of quality and reliability since 1975.

Orlando Roofing Company

Roofing Services Offered in Orlando and surrounding Central Florida Areas:

Residential Roof RepairRoof Cleaning
Residential Roof ReplacementRoof Claims Assistance
Commercial Roof RepairBlown-In Insulation
Commercial Roof Replacement