Investing in a new roof for your home can be a substantial investment. And one that is important and necessary. A new shingle roof should have a lifetime of 15-30 years, depending on the weather conditions the roof endures. That being said, It’s important to purchase a high quality roof, with expert installation to get the most out of it. While many people purchase their roof outright, there are many people that don’t have the ability to take on that large of an investment in one lump sum. In that case, It’s important to find a roofing company that offers financing. At Northkit Roofing, we offer great roof financing options, even 0% APR offers with no payments for up to 72 months at times. Here are a few other options for financing your roof.
Personal Loan
At Northkit Roofing, we understand that many of our clients need a financing option for their roof. That’s why we partner with some of the best lenders, to be able to offer the best terms for our clients. We run different monthly promotions, currently, we are offering 0% APR for up to 72 months, with $0 money down. Here are the benefits of a personal loan for your new roof or siding:
- Easy Application Process, Approval or Declined Response In Minutes
- Fast Funding
- No Closing Costs or Appraisals Needed
- No Prepayment Penalties
- Unsecured Loans
While there are many benefits of an unsecured loan for your new roof, there are also some limitations:
- Subject To Credit Approval
- Variable Rates Depending On Credit Score
If you are looking to purchase a new roof right now and need a financing option. Don’t wait. Take advantage of our 0% APR while it lasts!
Home Equity Line Of Credit
Also known as a HELOC, can be a great option for home renovations. A proper roof is directly tied to the value of your home, so using a HELOC to purchase a new roof can be a great investment for your home. HELOC’s offer great benefits to homeowners:
- Low Interest Rates
- Flexibility On How Funds Are Used
- Low Monthly Payments
- Cash On Demand Once Approved
While there are many benefits of a HELOC, there are also some challenges that come with them:
- Long Application Process
- Home Appraisal Requirements & Fees
- Closing Costs
- Loan Amount Limited to 80% LTV
At Northkit Roofing, we take pride in doing all that we can to make sure our customers are making an informed decision that makes sense for them. For some, a HELOC may be a great option. For those that it’s not, we offer other financing options.
Refinancing Your Home
Refinancing your home is the process of obtaining a new loan based on the current value of your home, and using the equity you have built up as a way of taking out cash. This is by far the most complicated process out of the listed options, but it does present some benefits. Here are the benefits of refinancing your home to purchase a new roof:
- Allows You To Purchase The New Roof With Cash
- Is Not A Separate Loan For Your Roof
- When Interest Rates Are Low, This Could Even Lower Your Overall Mortgage Payment
While there are some benefits to refinancing your home, there are also some challenges that can come with it. Here are the negative points to refinancing your home for a new roof:
- Extends Your Mortgage Back to 30 Years
- With Current Rates, This Could Severely Increase Your Monthly Mortgage Payment
- Long Process
- High Closing Costs
Making the decision to purchase a new roof is a big one and there is a lot that should be considered. Every persons situation is different, and thus, the best financing option for each person can vary.
Best Roof Financing Options
We hope you enjoyed the content above and that is served helpful for you on making a decision on how to finance your roof. We have helped thousands of homeowners in New Jersey replace their roof and siding, and are proud to offer great financing options for both!
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Disclosure:
We are not lenders or financial advisors. The content provided on this site, including information about financing options for your roofing needs, is strictly for informational purposes and should not be considered professional advice. Financing options mentioned are subject to change and may vary based on individual circumstances. Always consult with a qualified financial advisor or lender to obtain advice tailored to your specific situation and to verify the most current information. We do not guarantee the accuracy, completeness, or suitability of the information provided.
