We all know that a new roof can be a significant investment in your property. It can be a project you have planned or an unexpected circumstance that requires it — and many homeowners can’t afford to replace or repair their roof and they need a roof replacement financing / new roof financing program.
The cost of a new roof varies widely because it depends on different factors such as:
- Roof size and roof accessibility
- Roof style and complexity
- Type of roofing singles being stalled
- Types of roofing materials used
- The geographical location of the property
Investing in a roof is also an attractive option for homeowners due to its benefits such as energy efficiency, insurance claims, aesthetics (boost curb appeal), and increment of the property value.
All of these variables can make it challenging to save for a roofing project accurately, and that’s where roof financing can help.
Roof Financing, Explained
Before going into more detail about the Malone Roofing financing roof program, let’s first talk about the terms that lenders typically use:
Term: The length of time you have to repay the loan. It’s usually expressed in months or years.
Annual Percentage Rate (APR): APR is a useful tool for comparing loan products. Determines how much the lending company is charging you for the loan of the money. It may or may not include fees, and it doesn’t include the compounding effect of interest.
Principal: The total amount of money borrowed at the onset of the loan.
Interest: The cost of your loan over and above the principal amount.
Malone’s Financing Details
At Malone Roofing, we provide commercial roof financing (typically capped at $100K) and residential roof financing (as long as the credit score is above $600) that can last two to seven years.
Malone’s Roof financing lets you protect your investment and keep your family safe without worrying about making large, lump-sum payments. On the contrary, some of the main benefits you’ll have are:
- Low monthly rates — similar to auto-financing
- Easy approval process
- Defer/delay payments (without interest in some cases)
- Insurance claims
We partner with a third-party such as banking or other financial institution, to review and approve applications for financing their roofing projects. Aso, we partner with Green Sky (only residential) and Hearth (commercial and residential)
Getting the best deal on a new roof is a great way to invest in your home and address any existing issues while improving its value. There are many advantages to choosing our roof financing program, such as the ability to pay for it over time. Want to know more? Reach out to Malone Roofing today to start your new roof project!