When it comes to settling payments with your roofing company, cash is king. If you can save up enough before taking on a roofing project, you won’t have to worry about payments once the work is completed. Unfortunately, as great as paying full in cash is, it’s not always available to many homeowners. Thankfully, if you’re unable to pay this way, you’re not without options.
There are many ways to finance your roof replacement or installation project. Some options might not even be familiar to some homeowners. It’s important to learn all your potential choices before making a decision. Let our experts at Century Roofing and Siding Ltd. walk you through the many ways you can pay for your new roof.
Century Roofing and Siding Ltd. offers easy and flexible payment plans for homeowners to finance many of their home improvements. Roofing companies usually get discounted interest rates from banks and lenders thanks to volume lending. These discounts are often passed along to you, the homeowner. Having your roof financed through your roofer also has the benefit of convenience, just make sure that they offer fast and honest options for you to choose from.
Home Equity Line of Credit
If company financing is not right for you, you can leverage your home equity to fund your new roof. In a nutshell, equity is the value of your home minus what’s left on your mortgage. If you’ve owned your home for years, it’s likely you’ve taken out a considerable chunk out of your mortgage, giving you a bigger home equity line of credit or HELOC. You can then use your HELOC to pay for a new roof.
If your roof has suffered damage from a storm or an accident, your roofers can help you get a new roof financed through your homeowners insurance. Coverage can vary from one provider to another so it’s best to review your policy before going through with this option.
Get help financing your roofing work with our professionals at Century Roofing and Siding Ltd. Give us a call at (613) 738-1774 or fill out our contact form to request a free estimate today. We serve homeowners and property owners in Ottawa, ON, and other surrounding Ontario areas.