What Are Typical Types of Roofing Financing Options?
September 23, 2022
It’s really important to fully avail yourself of all the possible roofing financing options. A major renovation like roof replacement is no cheap task, and many homeowners elect to pay for it in installments. It’s nice to know you have an opportunity to install the best roof for your home without feeling excessive financial constraints.
Learn the Basics of Roofing Financing Options
Financing for a new roof simply refers to using credit (a loan) to pay for your roof rather than paying the bill all at once with cash. Either way is acceptable, but we find that most homeowners really need a new roof, yet don’t have the budget to pay for it outright.
The good news is that you can obtain a loan at a rate that’s even better than your home mortgage. This is also a big deal for emerging businesses that need a roof upgrade, but don’t yet possess the cash flow to handle a one-lump payment. There are several ways to do this, and it’s possible, to begin with, $0 money down upon purchase.
Granted, you may be wondering if financing a new roof is even worth the trouble. We understand your concern because this is a significant capital project for any homeowner. That’s why we invite you to explore the potential benefits of redoing your roof. Here’s a great source on how your roof affects your home’s curb appeal.
Rapid Roofing’s Financing System
The best way to understand how this works with Rapid Roofing is to carefully look over everything on our website section for financing. Here are the important highlights:
- First of all, we begin the process with a free consultation. There’s no risk or pressure when you meet with us initially. Our representatives are friendly and don’t use pushy sales tactics.
- If you elect to replace your roof with us, we have several flexible and personalized credit application options.
- It’s possible to secure payment terms that extend beyond 60 months. Our goal is to give you the best chance to purchase a new roof within budget boundaries.
- You’ll receive our ongoing support through service warranties even after we finish the project. We also utilize roofing materials that carry extensive manufacturer’s warranties. You’ll never feel like you’re getting a raw deal on a roof upgrade with Rapid Roofing.
What Goes Into the Cost of a New Roof
Now that you understand the financing system, we’d like to elaborate on what goes into the cost of a new roof. This will help you gain a better grasp of why you might want to finance.
Roofing expenses fall under two categories: materials and labor. Materials vary in price depending on whether you decide to redo your roof with metal, asphalt shingles, or aluminum. Unfortunately, with material shortages all throughout manufacturing, we anticipate these items becoming more expensive in the foreseeable future.
At the moment, it typically costs between $100 and $1000 to replace every 100 square feet of material nationwide. Factoring in labor costs, the median-sized home roof replacement in Michigan could range from a total of about $6,000 to $12,000.
Rapid Roofing Offers the Best Roofing Financing Options
We know that the decision to buy a new roof is detailed and potentially stressful. That’s why we try to take the pain out of the process by making you aware of all the project expectations and expenses. Home and business roofs are big-ticket items, but we never subject you to “hidden fees” or any other salesman chicanery.
Folks around Ann Arbor and Detroit really appreciate our honest and no-nonsense approach to roof replacement and customer service. You can verify that for yourself by consulting our many positive testimonials and nearly perfect aggregate score on Google Reviews.
Contact us today to learn more about our affordable roofing financing options.