Financing: Is Going Through a Roofing Company My Best Option?

Financing: Is going through a roofing company my best option?

Roof replacement is a significant home improvement project that can be expensive. Unfortunately, most homeowners are unprepared for this hefty investment or would rather not spend all their savings on a new roof. Whatever the reason, financing is a great way to get a high-quality roof without worrying about the upfront cost.

While many financing options are available for roof replacement, many homeowners prefer to work with roofers who offer financing. Financing through a roofing company removes the difficulty and confusion from the financing process, making the consumer’s life easier.


The Benefits of Working with a Roofing Contractor Who Offers Financing


Financing your roof through a roofing company breaks the cost down into smaller monthly installments instead of requiring a full upfront payment. This makes it affordable for the average homeowner and allows them to have their roofs fixed immediately. 


The key to roof financing is finding a local, reputable roofing contractor who has solid partnerships with multiple lenders that will not require astronomical rates. 

Here’s why financing through a roofing company is your best option.


Partnered With the Right People 


Established roofing companies partner with lenders to provide financing and, in some cases, offer financing themselves. They offer rates, terms, and other perks that a bank may not offer.

Compared to personal loans and home equity loans, the process of financing through a roofer can be much more simple and straightforward because the application, in most cases, is handled in-house. It also saves you the trouble of finding your own lender. 


Flexibility with Your Budget


Homeowners have unique needs and budgets that require flexibility, something that banks and other standard financing options cannot meet. Working with a roofer who offers financing gives you tremendous flexibility. You can easily find an option that falls within your monthly budget. 


For instance, if you prefer to spread your payments for a more extended period to minimize your monthly spending, you may choose a longer amortization period, which can be as long as 180 months. Alternatively, you may wish to clear the loan in a shorter time period to take advantage of lower interest rates.


Whatever your needs, you’ll find a roofer with financing options that will fit your needs. 


Fixed Interest Rates 


Floating interest rates can be quite problematic. An increase of one percentage point can be enough to blow your budget. With a fixed interest rate, however, you won’t have to worry about sudden changes to your monthly payments.


You can enjoy low-interest rates and fixed monthly payments when you finance your roof replacement through a roofing company. Roofing contractors often partner with lenders to provide financing to their customers. And thanks to volume lending, they can get special interest rates and promos, which they can pass on to you.


This allows you to create a better budget for your roofing project and pay for your roof in installment amounts you can afford.


Easy to Understand Terms and Conditions


If you decide to apply for a bank loan to finance your roofing project, it’s possible that the terms and conditions in the contracts might be difficult to understand. If financing through a roofing contractor, you won’t have to worry about the complicated contract finance terms. Their loan conditions are normally spelled out in simple, easy-to-understand terms. And if you’re having difficulty understanding some clauses, they have someone who can take you through the details. 


No Hidden Fees 


When you choose to go with a roofing contractor who offers financing options, you won’t have to worry about hidden fees as they’re upfront and honest with all their fees. You’ll only have to focus on paying the agreed-upon amount as indicated in the payment terms and conditions.

This makes financing through a roofing company a more viable and appealing option than other financing programs.


Simple and Fast


When you apply for a loan from a bank for your roofing project, you’re likely to wait for several weeks, if not months, to get approved. You can’t afford this wait time, especially if your roof sustained severe damage.


Applying for roof financing through a contractor can be an easy, seamless process. You can make your application online via a mobile app or through a phone call. The roofer will see to it that you navigate a simple and fast transaction process.


Roof Financing Options Offered by Red Diamond


At Red Diamond, we work with Service Finance and United Credit to provide stress-free financing options to our customers. These lenders provide multiple financing options and more opportunities for approvals within a wide range of credit profiles. Their loans come with affordable interest rates and payment plans. The application process is fast, easy, and 100% confidential. Once we’ve estimated the cost of your roofing project, our staff will help you start your application.


Make your search for roofing contractors and roof financing easier by turning to Red Diamond. We offer affordable, high-quality, and reliable roof repair and roof replacement services in the Denver and Fort Collins area. We don’t take our work lightly and never leave a site unless the client is 100% satisfied.


Contact us today to learn what sets us apart and get the roofing services you deserve.


Posted in About Roofers
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