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Have you found yourself Googling “financing options for a new roof near me” due to the high cost of a new roof? If so, you aren’t alone. When you own a home, one of the biggest expenses you’ll encounter is buying a new roof. A typical new roof can take anywhere from $5,000 to $20,000 to install, depending on your home’s size and the materials used. If you don’t have that money sitting around in your savings account to pay upfront for your major home improvement project, financing options may be just what you need.

Financing-Options-for-a-New-Roof

At Camden Roofing & Construction, we know how difficult it can be to save up for such a big expense. That’s why we offer several financing options so that you can get the best rate possible and make sure your new roofing project happens within your budget. With numerous financing programs and knowledgeable staff, we can help you understand the process and discover which option is right for your budget. 

Your Financing Options for a New Roof in North Carolina 

At Camden Roofing, we understand that roofs can be expensive, and sometimes difficult to find the money for. That’s why we offer financing packages that can help make the process easier on your budget.

Here are some of the most popular financing options for a new roof:

Take Out a Personal Loan 

Personal loans can be used for any purpose, so long as the borrower has good credit and a steady income. The amount of money you can borrow depends on several factors including your credit score and annual income — but expect to be able to borrow between $1,000 and $30,000 per year at an interest rate of 5% to 30%. The key here is being able to pay off the debt quickly and keep interest costs as low as possible.  

Use a Credit Card

If you’re able to get a credit card with a low-interest rate and no annual fee, using this type of financing may be an option for you. To avoid paying more than necessary, make sure that you can pay off your balance before interest charges start accruing.

Get a Home Equity Line of Credit

If you have equity in your home and want to borrow against it, this is one of the best ways to finance a new roof and other home improvements. You may be able to borrow up to 80% of the value of your home minus any outstanding mortgage balance (which means if your house is worth $200,000, you can borrow up to $160,000). The interest rate will vary depending on your credit score and other factors, but it will likely be lower than if you applied for an unsecured personal loan or credit card. 

File a Claim 

You are eligible to file a claim with your insurance company for coverage on roof replacement costs if your roof was damaged by a hailstorm or any other covered event. 

Refinance Your First Mortgage with Cash-Out Refinance

With a cash-out refinance, you can combine your first and second mortgages into one loan with one monthly payment. You can use the funds to make home improvements or pay off higher-interest debts (e.g., credit card debt). If you’re struggling to manage multiple debts and loans, this could be the answer to help you get out of trouble.

Apply for Government-Insured Loans

Government-insured loans are some of the most popular types of financing for home improvements because they come at a lower interest rate than most conventional home loans. If you have bad credit or a low income and can’t qualify for a conventional loan, this may be your best financing option for a new roof.  

Roof Financing Options for a New Roof Through Camden Roofing

A damaged roof is not just a cosmetic problem – it can cause a lot more trouble if you don’t get it replaced when necessary. It can cause structural damage and lead to expensive roof repairs that could have been prevented by an early replacement. We’re here for you when you need new roofing at times like this.  

At Camden Roofing & Construction, we can help you replace an old roof with a brand-new one, so you can rest easy knowing that leaks and water damage are not going to be an issue in the future. We offer financing options so you can afford any costs associated with roof replacement, without the stress of worrying about how to pay for it. 

  • Low monthly payments that fit your budget.
  • Convenient online account management and payment options to suit your lifestyle.
  • A competitive rate of interest and flexible terms to meet your needs
  • Fast and easy application process with a qualified lender
  • No hidden fees, no prepayment penalties, and no balloon payments

Camden Roofing & Construction works with the leading financing companies in the industry that allow us to get you the best rates, terms, and packages possible.  Call us at 704-858-2141 for pre-approval or to talk to one of our financing specialists today! 

Our Process 

If you’re interested in our roof financing options for a new roof, we’ll take you through a quick process.

With a web-based contract solution and end-to-end encryption, each homeowner fills out a credit application for their financing service provider online, which only takes a few minutes to complete. We utilize web-based contract solutions with end-to-end encryption so that all your information is secure and sent directly to Service Finance. Our process does not require us to access any personal information about you, so you can rest assured that we take privacy very seriously.

Once they determine that you meet the criteria for financing, they’ll send you a preliminary approval letter via email or mail with the terms of your loan and an offer to move forward with the financing process.

Once approved, we’ll schedule a time for the work to be completed by one of our certified roofing contractors (depending on what type of services are needed). Our roofing contractors will do a thorough roof inspection of the property and provide an estimate for the work that needs to be done based on their findings. From there, we’ll set up an installation date with you and begin work once everything is ready.

With Camden Roofing, Roof Financing has Never Been Easy 

Interested in financing your new roof? Camden Roofing & Construction offers a variety of financing options so that you can afford the roofing system you want and when you need it. With our flexible payment plans, it’s easy to work towards the roofing investment that you want without having to hunt down resources and figure out how to pull it all together. Call us today at 704-858-2141 to learn more about what financing options you qualify for and get started with the new roofing system you need!