Paying out of pocket may not be an option for most homeowners.
Knowing how much a new roof will cost can help you determine how you will be financing a new roof. Compare roofing materials to determine which are the best for your budget. Muth & Company Roofing, one of the top roofers in Columbus, OH, encourages you to contact at least three contractors to provide estimates for roof replacement. Estimates should include cost of materials and labor.
Before taking out a loan or making repairs to the roof, contact your insurance provider. See if your home insurance will cover some or all of the costs. If damage to the roof occurred as a result of inclement weather, you may be covered for roof repairs or roof replacement.
Calculate the overall costs for home equity lines of credit and personal loans. Depending on your current finances, you may not be able to afford additional payments and interest for a new roof on your home. An option for financing a new roof for most homeowners includes taking out a line of credit or a loan.
Here are the three most common ways of financing a new roof
Take out a Home Equity Line of Credit
To estimate how much you qualify for, subtract what you owe on your mortgage from the current value of your home. By contacting your local property assessment office, you can get your yearly property values.
Take out a Personal Loan for Financing A New Roof
An option for financing a new roof for most homeowners includes taking out a line of credit or a loan. You will need to bring recent pay stubs and financial information when you speak with a loan officer. Other paperwork may include a banking statement and a copy of your credit report.
Ask your Roofing Contractor for Financing Options
Muth & Company Roofing partners with Hearth Financing. Hearth Financing is revolutionary in that it puts financing options that are available to you as a consumer in the comfort of your own hands while you are in your own home.
We want to help you reach your home improvement goals. If your project is urgent, Hearth can help you find the right personal loan to finance your roof replacement project. Within 60 seconds, you will have customized rates from multiple lenders so you can pick the loan that works best for you.
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Call Muth & Company Roofing today at (614) 682-3060 for a FREE estimate on Columbus roof replacement or Columbus roof repair.