Financing New Roof
A roofing project is a large job that can improve the value of your home. However, fixing or updating your roof can come with large costs, as well. Financing new roof, When you don’t have the cash readily available to finance a new roof or fund an unexpected roof repair, you don’t have to fret. With the multitude of financing opportunities available today, you can find funding that suits your needs so you can get started on your roofing project as soon as possible.
Options For Financing A Roofing Project
If you’re looking for roof project financing options in the Brighton, Germantown, Collierville and Brunswick areas of Tennessee, then there are several options to help you get your roof project completed. Home equity loans and home equity lines of credit (HELOCs) are options frequently used to finance a new roof because of their low interest rates. This is because tapping into your home’s equity and using it as a loan is considered secured debt. If years have passed since you first purchased your home, the value of your home may have increased. This leaves you with more equity in your home to help finance new roof repair projects.
The low rates from financing via a HELOC or home equity loan can make it cheaper than other financing options, such as obtaining personal loans or using credit cards, which will save you money over the long run. Other options to finance a new roof include:
- Loans from nonprofit organizations
- Loans and advice from local community development financial institutions
- Refinancing via an FHA 203(k) refinance loan
Whichever option you choose, make sure you only borrow what you need to keep your roofing project affordable.
James Russell Roofing Rescues Roofing Projects
Updating your roof or fixing roofing issues, such as improperly installed roof components that leave your roof prone to puncture or moisture damage, will take more technical skills and expertise than the skills required for a simple do-it-yourself project. That’s why it’s important to have local roofers with generations of experience on hand. If you have a home or business that’s in need of a “roof rescue” in the Brighton, Germantown or Collierville areas, you can count on the expertise and reliability of the experienced team of roofers at James Russell Roofing.