Roofs don’t last forever, and every building will need a roof replacement eventually. There’s no need to worry about the cost of a new roof, though. You do not need a personal loan to finance a new roof, either. Depending on your credit score, many options exist for financing a new roof. Perkins Roofing can help you find the right payment plan for your new roof project, offering financing options to accommodate your monthly payment budget to pay for your new roof. Here are some of the best loan options available to finance your roof repair.
Finance a New Roof with Insurance Coverage
If you have homeowners or property insurance, you may be eligible to use your policy to cover or partially finance your roof if you meet your policy’s criteria. Revisit your current homeowners insurance policy to see if this is a viable roof financing option. After a named storm hits South Florida, and your roof is damaged in the aftermath of the storm, the best roof financing partner would be your insurance. Contact your agent today to be sure your current homeowners policy is best fitting your home improvement needs or will pay for the roof damaged in the storm. Many insurance policies may not cover your roof replacement cost if it’s found to be poorly taken care of. Fortunately, alternative financing options are available for repairing or replacing a roof, including paying for roofing material. Schedule a roof inspection with Perkins Roofing beforehand to find out if you qualify for a new roof replacement and determine how much it may cost you to pay to install a new roof.
Note: Under Florida law, insurance fraud is a serious crime and those found guilty of committing this crime are prosecuted. There are strict guidelines in place to protect insurance companies and contractors from insurance fraud which is a growing crime in the United States.
Home Improvement Loan Programs to Cover Roof Replacement Cost
Fortunately for many homeowners jumpstarting their home improvement projects in South Florida, effective financing programs who work with roofing companies are plentiful! You may need a home loan to pay for your roof replacement project. YGrene and RenewPACE, just to name a couple of home equity line of credit loans, are excellent financing solutions who work directly with the property owner and Perkins Roofing to finance your new roof. Simply confirm your re-roof project qualifies for the program’s financing options, submit a pre-qualification application for a home equity loan, and choose Perkins Roofing as your roofing contractor! For some of these roofing financing programs, no money is required out of pocket, no need to pay it back for up to a year or more, no minimum FICO score required, and more. Financing programs such as YGrene and RenewPACE help make the dream of paying for a new roof possible for many South Floridians.
These financing programs provide homeowners with new ways to pay for their new roof, allowing them to improve their property value and protect their investment without breaking the bank. By partnering with reputable roofing companies like Perkins Roofing, homeowners can rest assured that they are receiving quality workmanship and materials needed to replace your roof.
This type of financing offers peace of mind to homeowners by providing protection and warranties on their new roof. This can be especially important in hurricane-prone regions like South Florida, where a sturdy and reliable roof is essential for protecting against severe weather. YGrene and RenewPACE make it easier for homeowners to upgrade their roofs and enhance the value and safety of their homes. With no money required upfront and flexible payment options, these programs are convenient and accessible financing options to consider
Government-insured Loans with the Low-Interest Rate FHA 203K Loan
The United States Department of Housing and Urban Development provides FHA 203k loans to those who qualify to finance the rehabilitation of a house, including new roofs. Homeowners must submit an application, including their credit history, through an FHA-approved lender to begin the qualification process.
Certain restrictions and requirements may apply for a re-roof FHA 203k loan so it’s essential to connect with a qualified FHA-approved lender in your city. Homeowners looking to finance a roof repair or replacement through an FHA 203k loan must ensure that the roof replacement is necessary for the overall rehabilitation of the home. This fixed-rate loan allows you to pay cost of materials and labor for the new roof installation, as well as any related structural repairs or any other roof costs that may be needed.
It’s important to note that the FHA 203k loan program has specific guidelines and restrictions that must be followed. Homeowners must work with a qualified contractor who is familiar with the FHA 203k loan process and requirements. The lender will also typically require an appraisal to determine the current value of the home and the estimated value after the rehabilitation work is completed.
Generally, FHA 203k loans can be a valuable option for financing a roof replacement as part of a larger home renovation project. By working with an experienced FHA lender and contractor, homeowners can ensure that the project is completed successfully without having to take out a new mortgage
You Have Several Options to Finance Your Roof
Several great options are available to help South Florida homeowners to finance their next re-roof project if they find the perfect roof replacement payment plan suited to them. Schedule a consultation with a financial advisor to discuss financing options for your roofing project, including roof loans that can be paid in a lump sum or through flexible payment plans. Compare your options and decide on the best way to finance your roofing project. Perkins Roofing is experienced and willing to work with you to build you the roof of your dreams and understands some customers may need assistance in covering the expenses of a new roof. We service clients between Jupiter and Miami, Florida.
Contact us today! (305) MIA-ROOF or hello@perkinsroofing.net
