Benefits To Financing With A Roofing Contractor

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Benefits To Financing With A Roofing Contractor

It’s no secret that home improvement is expensive. The final price of repairs can range anywhere from the mid hundreds to tens of thousands of dollars, depending on what is being repaired or replaced. Roof repairs and/or installations are often in the higher ranges of home improvement costs. As a result, a lot of people tend to neglect their roofs, waiting until it is too late to salvage any once-minor problems the roof might have had, leading to even more expensive out-of-pocket costs that it would have been had they taken care of the issue earlier in the roof’s life!

Financing takes the edge off of needing to pay a large lump sum for roof repairs and/or installations.

The way financing works is that a roofing contractor typically partners with a financial institution such as a bank or credit union in order to be able to offer you a plethora of options to pay for your roofing project. Roofing contractor-partnered financing is a great benefit, because it eliminates the extra steps of having to find your own lender and going through their vetting processes in order to determine your eligibility for a home repair loan.

Here are some other benefits to roofing contractor-partnered financing:

  • A lot of flexibility with regards to payment options, so you can choose to pay the way that aligns with your budget. Flexibility can mean partially paying the project out of pocket and financing the rest; long-term fixed payment options; no payments at all for the first year after the project has begun; and many more.
  • Your roofing contractor can typically offer better interest rates than what traditional banks offer. Through their partnership, the roofing contractor is able to bring more and more new clients to their partner financial institution. In return, the partner financial institution is able to offer the roofing contractor special, lower interest rates that are hard to match—let alone beat—by your average bank. The roofing contractor then passes on that low-interest rate perk to their customers. Everyone wins.
  • Faster credit decisions. You can fill out a credit application online, click the submit button, and typically receive a decision within minutes. More often than not it’s faster than going to a normal financial center where your credit decision is at the mercy of the back-and-forth nature of the underwriting process.
  • Lower interest rates! It was mentioned earlier but it needs to be mentioned again because it is such an awesome benefit. The rates are lower than what your typical financial institution offers and hard to beat!

Any roofing contractor worth their salt will offer some kind of financing option with their services! It’s a no-brainer to make the already-arduous process of repairing or replacing a roof easier on the customer (remove the stress of running from bank to bank applying for a home improvement loan and racking up inquiries on your credit report) while giving them the option of paying how they want to pay (everyone’s budget is different. More options allow you to make a choice that frees up cash for other things in your life).

If the sometimes-stomach-turning price of a roofing project is what’s been keeping you from taking the plunge, put the Tums away and be at ease. Just head on over to our financing page to submit an application or reach out to us by phone (301-404-8409) or contact form with any financing questions/concerns and we will be happy to answer and clarify!

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Benefits To Financing With A Roofing Contractor

Navigation:Home/Blog/Benefits To Financing With A Roofing Contractor
Benefits To Financing With A Roofing Contractor

It’s no secret that home improvement is expensive. The final price of repairs can range anywhere from the mid hundreds to tens of thousands of dollars, depending on what is being repaired or replaced. Roof repairs and/or installations are often in the higher ranges of home improvement costs. As a result, a lot of people tend to neglect their roofs, waiting until it is too late to salvage any once-minor problems the roof might have had, leading to even more expensive out-of-pocket costs that it would have been had they taken care of the issue earlier in the roof’s life!

Financing takes the edge off of needing to pay a large lump sum for roof repairs and/or installations.

The way financing works is that a roofing contractor typically partners with a financial institution such as a bank or credit union in order to be able to offer you a plethora of options to pay for your roofing project. Roofing contractor-partnered financing is a great benefit, because it eliminates the extra steps of having to find your own lender and going through their vetting processes in order to determine your eligibility for a home repair loan.

Here are some other benefits to roofing contractor-partnered financing:

  • A lot of flexibility with regards to payment options, so you can choose to pay the way that aligns with your budget. Flexibility can mean partially paying the project out of pocket and financing the rest; long-term fixed payment options; no payments at all for the first year after the project has begun; and many more.
  • Your roofing contractor can typically offer better interest rates than what traditional banks offer. Through their partnership, the roofing contractor is able to bring more and more new clients to their partner financial institution. In return, the partner financial institution is able to offer the roofing contractor special, lower interest rates that are hard to match—let alone beat—by your average bank. The roofing contractor then passes on that low-interest rate perk to their customers. Everyone wins.
  • Faster credit decisions. You can fill out a credit application online, click the submit button, and typically receive a decision within minutes. More often than not it’s faster than going to a normal financial center where your credit decision is at the mercy of the back-and-forth nature of the underwriting process.
  • Lower interest rates! It was mentioned earlier but it needs to be mentioned again because it is such an awesome benefit. The rates are lower than what your typical financial institution offers and hard to beat!

Any roofing contractor worth their salt will offer some kind of financing option with their services! It’s a no-brainer to make the already-arduous process of repairing or replacing a roof easier on the customer (remove the stress of running from bank to bank applying for a home improvement loan and racking up inquiries on your credit report) while giving them the option of paying how they want to pay (everyone’s budget is different. More options allow you to make a choice that frees up cash for other things in your life).

If the sometimes-stomach-turning price of a roofing project is what’s been keeping you from taking the plunge, put the Tums away and be at ease. Just head on over to our financing page to submit an application or reach out to us by phone (301-404-8409) or contact form with any financing questions/concerns and we will be happy to answer and clarify!