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How To Finance A New Roof For Your Langhorne, PA,


How To Finance A New Roof For Your
Langhorne, PA, Home

Your Financial Options For Making
Your New Roof A Reality


Purchasing and installing a new roof on your Langhorne, PA, home is one of the most significant financial decisions you’ll make. It’s also one of the most crucial pieces of your home when it comes to its structural integrity. While it can be an expensive proposition, there are a number of financing options available that can help you make your new roof more affordable.

Your roof is the first line of defense against the elements you have for your family and everything you own. That’s why it’s vital to find the right solution for your home – without cutting corners or trying to skimp on materials to save a buck.

That’s where financing comes into play. With the right financing option, you and your family can rest easy with a new roof and comfortable payment terms. Let’s take a look at all of the possible ways to fund your roof replacement project in Bucks County.

To help you make the right decision for your home and budget, we’ve compiled a list of options. Let’s take a look so you can get the roof you need and deserve!


Credit Card

Using a credit card to finance your asphalt roof replacement project is not exactly ideal. However, it is something to consider if you have no other option and a credit card with a high enough spending limit to allow for the charge.

 

Some credit cards offer rewards programs and bonuses that may make this a positive buying experience. If you have the option for something like 0% interest over 12 months, you can save significant money while paying for the project over one year.

Without incentives, you risk facing higher interest rates, which makes credit cards less beneficial. Additionally, there are processing fees the roofer must pay to run a credit card, which will likely get passed to you. These can be 3-5% of your total charge, and when you consider the cost of your project, that’s a lot of extra money.


Home Equity Loan

A home equity loan places your Langhorne, PA, home as the collateral to receive the funds. This loan is for a fixed amount of money and is often called a second mortgage. Homeowners with strong credit on their property and steady income benefit the most from this option.

Most lenders allow you to borrow up to 85% of your home’s value – less the balance of the current mortgage. Home equity loans generally have lower interest rates than other roof financing options.

The downside to this loan type is the lengthy processing time – it can take two to four weeks to get approval. In addition, missing the monthly payment can result in losing your home.


Home Equity Line Of Credit

Similar to a home equity loan, a home equity line of credit (HELOC) may allow you to access up to 85% of your home’s value, less your mortgage balance. The difference is that you don’t borrow a lump sum.

Instead, it’s more like a credit card where you can borrow what you need when you need it – so long as you do not exceed your credit limit.

HELOCs typically have variable interest rates. Initially, you’ll start with a lower promotional rate than a home equity loan. Once that promotion expires, you could see it rise or fall depending on different benchmarks.


Personal Loan

An advantage of a personal loan is a much lower interest rate than a credit card. However, these loans are not secured and have no collateral behind them. Because of this, lenders generally choose a higher interest rate than other loan options.

While your interest rate will be higher than a HELOC or home equity loan, you won’t have to worry about the potential of losing your home over a missed payment. You’ll want to research several different lenders to find the best deal.

While looking for the lowest monthly payment may seem like the best idea, you’ll want to factor in the interest rate to see how much it costs overall.

Compare the loan options based on all factors of the loan terms before choosing the one that best meets your needs.


Financing Through Your Roofing Company

Most roofing companies offer options for their qualified customers to finance their roof replacement projects through their lending partners. Another factor to consider is that if they provide financing, it directly reflects their reliability as a reputable company.

The applications are generally straightforward – delivering fast responses. If you’re approved, the company can get started on your paperwork and begin your roofing project.


Rosenello’s Windows Expertly Installs
New Roofs In Langhorne, PA

When you’re ready to replace the asphalt shingle roofing on your Langhorne, PA, home, turn to a company with a history of roofing excellence. Here at Rosenello’s Windows, we’ve been serving the community for over 35 years, delivering quality customer service and superior results.

We aim to treat everyone exactly as we want to be treated. We provide crystal-clear communication, exceptional long-term service, and flawless craftsmanship to do this. Our customers deserve nothing less than the best.

Call Rosenello’s Windows today at (215) 244-3993 to schedule a free estimate.


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