Roofing Financing Options and Insurance

The roof is one of the most important, if not the most critical component of the home. Especially considering the harsh winters in New Jersey.

A good roof helps to regulate airflow, thus helping maintain costs. 

These are just a few reasons why having a good roof is essential. The issue here is that roofs can be expensive; and “money don’t grow on trees!” as my mom used to tell me. It costs a pretty penny, which may be a bit costly for a homeowner. 

What options do you have when it comes to roof replacement financing?

Let’s go over the options.

Roofing Company Finance

Getting help from a financial institution is usually the first thing people think of when looking for financing options. However, they are not the only options you have. Roofing can be an expensive endeavor. No one understands the financial burden of roofing more than Somerset Contractors. 

We’re Jersey locals who understand how expensive it can be just to maintain a home here, let alone to replace the roof out of pocket. That is why we work with the best roof financing companies in the state. 

Need a new roof over your head, but don’t have the cash to pull out of pocket? That’s okay… you are not alone. 

Call us today and we’ll help you connect with the financing that you need. 

Can You Finance a New Roof? Should You?

What about new roof financing? The financial lending system is there to help everyday Americans to make large purchases while deferring the payments over time. However, it is not always the best option if you can afford to pay for the roof replacement or repairs out of pocket.

Financing via loans is convenient, but it may end up costing you more. If you can raise the cash to get a replacement or repair done, then that is the route you should be taking. It may be difficult parting with all that cash up front, but not having the interest payments will help.

But what if you don’t have the cash? Is it possible to finance the roof? Of course!

We can help connect you with the roof repair financing that you need. We help Jersey residents find the best way to finance a new roof without the endless headaches and loops of researching banks.

Paying Via Insurance

Many hazards would leave you homeless if the opportunity arises. This is why homeowner’s insurance is essential (and often required) to protect your investment from financial ruin.

If you qualify for having the insurance company pay for a portion or all of your roof repair, we can help you establish what you need.

Roof financing can be a costly affair, so getting a replacement via your insurance company is always an excellent way to go.

There is a caveat, though. The roof has to have suffered damage from factors that are outside of the homeowner’s control. These include fires or “Acts of God” like hurricanes, heavy rainfall, tornados, and other natural phenomena.

There are also other things you have to consider. What is the condition of your roof? Is it battered? Did you neglect it? 

If the roof was not maintained and well taken care of, your home insurance might use that to disqualify you from getting roof replacement financing. 

I know that some insurance companies can try everything they can to get out of paying for bills that should be covered. If you’re struggling with this, give us a call and we’ll consult on you on how to help. 

Roof Financing With Bad Credit

What about financing a roof replacement with bad credit? The thing about relying on a credit system is that things may not always go your way in life.

Along the way, somewhere, you may become hit with various issues that mean you can’t pay back your debts in time. Now, you have bad credit.

It happens to everyone at some point in time. 

This makes it difficult for banks or credit cards to lend to you, but you are not out of options. Even though your chances of getting 0% APR financing is slim to none, you are still able to get low APR financing from a variety of lenders specializing in lending to people with poor credit ratings.

We can help connect you with financing companies that will work with you.

Finance Roof and Siding

What if you have a big project and you need roofing and siding financing?

Fortunately, the process is similar whether you need financing for roofing projects that include siding, gutters, or other repairs, or you just need a basic roof.

Whether you need a new shingle roof, roof repair, or metal roof financing, we’ve got you covered.

Many times a homeowner will figure out all of the repairs and replacements that they need. It isn’t uncommon for us to show up to a roofing job and end up working with the homeowners and banks to replace the siding, gutters, roofing, windows, and doors! When you finance all of your home repairs/replacements in one shot, you can pay over the long term to get everything that you need done today.

Paying with a Home Equity Loan

Paying for a roof is not cheap. It can cost anywhere from $5000 to $15,000 depending on the size and materials.

All aspects are based and determined by the roof’s condition, the materials you will be using to conduct the replacement, and the labor to get the job done.

If you can’t pay cash, the obvious route is to go with home insurance to pick up all or part of the tab.

If those options are not available, you can turn to a home equity loan to help you get that brand-new roof.

  • Home equity is the difference between the balance you still owe on your home mortgage and its value in the open market.
  • A home equity loan would work best if the equity you hold is 85% or less. 
  • A home equity loan is something that a lender will jump at the chance of providing.

They usually have a lower interest rate when compared with other types of loans. The reasoning behind this is because the home is used as the asset in collateral.

To qualify, though, you usually will need to have fair to good credit and have a steady income source. 

Need Help Setting Up That New Roof?

Don’t just let any contractor put in your roof. You may end up having to spend way more than you would have spent with the best contractors.

That’s what we offer you; a peace of mind.

We have gathered roofing experience that spans decades. Through all this, we have learned what it means to get the job done right.

There is reason why we are a top-rated roofing company in New Jersey. 

Chances are you ended up on this page because you were on google searching for ‘roofing companies near me with financing’ or ‘roof financing near me.’ If you need help with your roof or have any questions, contact us today by filling out this form or call us at (856)-340-0747.