Roof Financing for North Carolina Homeowners - We Make It Easy!

We Make Roof Financing Easy for North Carolina Homeowners

May 9, 2020
roof financingNeeding a roof replacement can sneak up on you. From the outside, your roof might look fine. However, over time, leaks, pests, and other issues could cause damage to your home. Roof damage can be very costly, if you don’t handle it as soon as you discover it. Although roof repair is sometimes possible, in many instances, the most responsible decision is to replace your roof. Don’t worry; we have roof financing options.

What is Roof Financing?

With roof financing, you’ll be able to pay for your new roof through a structured loan. It’s like an auto loan or a personal loan, but specifically for the cost of your roof. Like most loans, roof financing has three main factors to consider:
  • The total amount of the loan, or principal (i.e., how much money you need to pay for your roof replacement)
  • The interest (i.e., a percentage of the principal amount that you will be charged)
  • Your monthly costs for the loan term (i.e., how much you’ll pay each month, which is a combination of the principal and interest divided by the number of months it will take you to repay the loan)
Does this sound confusing? It doesn’t have to be! Let’s break down each part of your roof financing to figure out if a loan is the right choice for you.

The Total Amount of the Loan (aka the Principal)

If it is time to upgrade your roof, you have options. Here at Xterior, we install two main types of roofs: In both cases, you can get financing to help you pay for your new roof. The type of roof you choose will be the biggest factor in determining the amount of your loan. Asphalt roofs are generally the less expensive option. Most of the homes you see in your neighborhood probably have traditional asphalt shingles. We have shingles that come in a variety of colors and styles to complement your home. On the other hand, metal roofs cost more upfront due to the higher material costs and more complex roof installation. However, they provide a unique look as well as a number of benefits:
  • It may be the last roof you’ll ever need to install. While asphalt roofs last around 20 years, metal roofs can last 50 years or more.
  • Metal roofs are extremely durable and easy to maintain. In general, you’ll need roof repair less often with metal. Here in North Carolina, we get very high winds, especially during hurricane season. It can be less stressful to deal with storms when you have a high-quality metal roof.
  • Your energy costs will decrease slightly with a metal roof, especially during the summer. Metal roofs reflect the sun. It’s a popular myth that metal roofs make your home an oven. They actually help regulate the temperature. So, you’ll save on energy costs with a metal roof.
  • We have metal roof materials in a wide range of styles and colors. If you don’t like the look of metal, you can get a metal roof that gives the illusion of cedar, terracotta, or even asphalt. Metal roofing material also comes in a wide range of colors.
Ultimately, it’s up to you if you want to upgrade to a metal roof or install an asphalt roof. We’re happy to go over the costs of each so you can consider which roof financing option is best. In terms of the overall cost, keep in mind that you’ll need a smaller loan if you have a down payment. We offer zero-money-down financing, which allows you to pay for your new roof completely with a loan. However, if you do have some money to put toward the project, you’ll often get a better interest rate, which means lower monthly payments!

Understanding your Interest Rate

When you apply for roof financing with a lending partner, they set an interest rate. This is the amount you’ll pay on top of your loan. It’s how lenders make money. We have 0% financing for qualified homeowners! This means your loan is “same as cash” or, in other words, you’ll pay the same amount that you would have if you paid out of pocket for your roof. In order to qualify, our lending partners look at two things:
  • Credit score and history
  • Monthly income
This allows them to determine if you are a risk. If you have a good credit score, a clean history of making payments on time, and a monthly income that can support the payments you’ll need to make, you’ll qualify for the loan. But what if you have less-than-perfect credit? We can help you too! In this case, you may not qualify for 0% financing, but we’ll work to find you the lowest interest rate possible. Our financing team works hard to find you the best financing terms or that are available. Our focus is always on helping our clients replace their roof to protect their home and family, even if they can’t pay upfront. Replacing a roof is something that can’t be postponed, since a small leak can cause major structural damage to a home over time.

Low Monthly Payments for Your New Roof

Roof replacement financing doesn’t have to break the bank. We’ll help you find an affordable monthly payment plan that works for your budget. This helps free up your cash for other projects or purchases. When determining what you can afford, you’ll want to create a monthly household budget that includes all expenses: mortgage, insurance, auto loans, clothing, food, utilities, student loans, entertainment, and more. Then, look at your monthly income. How much money is left over every month? This is the maximum you can spend per month on a new roof (but most people will want to spend less than the maximum!). We understand tight budgets, so we work to keep our costs low without sacrificing quality. Our team has existing relationships with roof material manufacturers, so we can get a low price and pass that savings on to you. Once we know your total monthly budget, we can figure out which roofing option is right for you: asphalt or metal. We can also figure out which styles and colors fit into your budget. We’ll give you a price quote for the roof project that you can trust. In other words, at the end of the work, you won’t have a roofing contractor hand you a surprise bill. What you see is what you pay – period. We don’t believe in adding on more costs throughout the project unless you want to make major changes. Our pricing is 100% transparent, so you’ll know the costs upfront.

Why You Should Choose Roof Financing

As you review each financing option, you may consider a different route: simply paying for your roof out of pocket. This is certainly an option if you have the savings to pay for a roof replacement. However, there are some benefits for choosing a roofing loan instead. Most importantly, you won’t wipe out or deplete your savings. So, that cash is available for you to use elsewhere or invest. We never recommend using all your savings for a new roof. You want some extra money on standby in case of an emergency. As we have learned, a major crisis can happen when we least expect it! With our roof financing, you can get the roof you want and need when you need it. It’s a no-brainer!

Other Financing Options for the Financially-Savvy Homeowner

While we do provide financing for any roofing project, this is not your only option if you don’t want to pay out of pocket. We highly encourage you to check out your other options along with Xterior LLC roof financing. You should try to get the best deal possible, even if it is not with a loan through us. You can look into personal loan options from traditional lenders such as your bank or credit union. Depending on your credit score and history, you may find a home improvement loan option that makes more sense for your budget. Getting your roof replacement is the important thing here and we want you to be comfortable with your loan term and to have low monthly payments. Many homeowners find that the better choice is a home equity loan or a home equity line of credit. These are typically available to you if you have owned your home for several years and have made regular monthly mortgage payments. With a home equity loan or home equity line of credit, you tap into your home’s value. Mortgage lenders and banks typically approve these loans or lines of credit because you are working to increase the value of your home. A new roof is one of the best ways to increase your home’s value, so a roofing project is a great investment in the eyes of your mortgage lender. It’s important to shop around. We’ll give you a great deal, but you don’t have to choose the roof loan we offer in order to hire Xterior LLC for your new roof.

Is Xterior LLC the Right Roofing Company for You?

What sets us apart from other contractor teams is that we care about every customer as though you were part of our family. Every roofing project is important to us and we want you to recommend us to your friends and family. We have decades of experience in exterior home renovations and a team of trained professionals who focus on getting your roof installation done right the first time. Here’s what you can expect when you work with Xterior LLC:
  • Our pricing is easy to understand, and the initial consultation is completely free. No strings attached!
  • We’ll answer every question you may have about your roof in easy-to-understand terms.
  • If you are having a hard time deciding between two or more options, we’ll help you break down a pros and cons list.
  • Our team shows up on time and completes your project on schedule. We don’t want you living in a construction zone with no idea when we’ll be finished.
  • We make your life easy by dealing with insurance companies and getting permits when needed.
  • During the project, we’ll stay in close communication. You can always speak to the foreman on site if you have any concerns. We don’t pass off your project to a third party.
  • We’ll respect your home. After all, you have to live there, even while your roof is under construction. We take care to keep the project safe and avoid damage to other parts of your home or landscape.
  • When the project is done, we want you to be completely satisfied. If you aren’t, we’ll make it right.
  • Any contractor who does not show you a current, paid certificate of insurance is not someone you can trust to work on your property.
  • We have some of the best roofing warranties in the business. This is because we are an Owens Corning Preferred Contractor.
  • It is always better to deal with a local, family-owned business. We have been providing North Carolina residents with quality home improvement for more than 40 combined years.
You don’t have to take our word for it. Here are what some of our real customers have said about working with Xterior LLC: “I interviewed a few companies and am really glad I went with Xterior. They did my roof after a major hail storm. There were a few storm chasers that came by who were from out of the area. I am so glad to give my money to a local owner who clearly backs their work up. Job was done in 1 day with zero issues. They dealt with the insurance for me and even got money added for the upgrades.” – Colby Miller “Everything is done, and looks good. Metal roof looks beautiful, the siding looks great and was done quickly and professionally. They do give an amazing veterans discount.” – Victor Thomas “Great company to do business with. All staff was friendly and courteous. I had a lot of work done, new metal roof, replacement windows guttering and shutters. Quality work and excellent contractors. Thank you to all the staff from beginning to the end of my experience. Highly recommend using Xterior for your home repairs” – Tammy Hamm Click here to read more real reviews from our customers. Ready to book your appointment? Click the “free quote” button above for a no-obligation consultation.

For informational purposes only.