Why Can Roof Financing Be Beneficial?
It’s easy to neglect your roof, and many people don’t act on the warning signals of a failing roof until it’s too late. On other occasions, Mother Nature may cause damage to your roof by tearing off shingles or sending a branch crashing down on your house.
Having a savings account set aside for roofing repairs and upkeep is ideal, but in reality, most of the time we are caught off guard when our roof needs attention. Your insurance may cover the damage, but you may still be stuck with a deductible that is too high for your current financial situation. Another option is to completely replace the roof with brand-new, state-of-the-art materials instead of repairing it. Financing alternatives are offered at Korrect to help you take on this unexpected expense
Spend Less Money Every Month
Low monthly payments are available when you finance a new roof through Korrect. To avoid having to come up with a large payment all at once for a roofing project that could cost several thousand dollars, you can instead pay for it in manageable monthly installments.
It’s possible to get a low-interest rate for the duration of your loan if you make your payments on time and have a good credit history.
A modest monthly payment of $311 at an APR* of 9% is possible, for instance, on an unsecured loan of $15,000 for 60 months.
Make a Down Payment and Delay the Interest
Loans with zero percent financing upfront and no prepayment penalties are a good option for homeowners who want to defer a large payment without incurring interest costs. Korrect has a 60-month program at zero percent interest if this is the way you would like to go.
A full prepayment (with no accrued interest) is permitted at any point prior to the end of the six-month grace period, or the borrower may resume making payments at the new interest rate.
The Payment Delay Strategy
It’s possible to postpone payments on some loans for a certain time frame. When the term ends, you’ll start paying payments at the agreed-upon interest rate on a regular basis. This is especially helpful if you are short on funds yet cannot afford to wait to begin the roofing project for reasons like safety.
Fast Approval Time
Thanks to today’s cutting-edge methods, getting financing for a new roof can be a cinch. Paperwork for roof financing is now completely unnecessary because applications can be made online, via a smartphone app, or over the phone. An electronic signature is required. Approval notifications typically arrive within minutes after submission.
You can secure your home and family’s safety with a new roof without worrying about making a sizable upfront commitment thanks to roofing financing options.
The Investing of One’s Money That Produces Desirable Returns
The National Association of the Remodeling Industry (NARI) found in their 2019 Remodeling Impact Report that homeowners can recoup as much as 107% of the cost of a new roof when they resell their property after the roof has been replaced.
This same survey indicated that new roofing was a high priority for homebuyers, so if you plan on selling your home in the near future, getting a new roof could help you sell it faster and for more money.
Investing in your home’s future value, fixing any current roof issues, and getting the roof of your dreams all at once is possible with roofing financing.
Roofing finance options can be discussed in greater detail with a quick phone call to 817-888-8827 Korrect General Contracting.
How long does it take to pay off a roof on a loan?
The terms of a loan will depend on the lender. Loans with longer periods typically have lower monthly payments since they spread out the debt repayment over more years, while shorter loan terms offer faster debt repayment and perhaps cheaper interest payments.
Despite the higher interest costs, many homeowners opt for 120-month mortgage terms or more to ensure manageable monthly installments.
Can you set up a payment plan with a roofing company?
Yes. You may be able to spread out the cost of a new roof with the help of a payment plan from Korrect Roofing.
Does my policy cover the cost of a new roof?
How much you pay out of pocket for a new roof is usually determined by your insurance policy and the specifics of your roofing emergency. If the damage was caused by weather, then your homeowner’s insurance policy may pay for it. However, if you want to replace it because of its age or to increase its resale value, your homeowner’s insurance is unlikely to cover the expense.
Loan amounts, repayment schedules, and interest rates may all affect your APR. Get pre-approved with Korrect in less than 24 hours!
Call Today (817) 888-8827 to see how we can help get your new roof financed today!