Have a reliable roof over our heads is a necessity. Unfortunately, storm, wind and hail damage doesn't coordinate with us ahead of time and certainly doesn't check in with us regarding the status of our budget to make sure it's an okay time to spring that unexpected expense upon us.
Lucky for customers of Good Shepherd Roofing that we have teamed up with the nation's leader in project and construction based financing loans. Our partner is Hearth and they offer a wide assortment of financing options.
Here are some important details on the financing options available from GSR via our partner, Hearth.
See your personalized monthly payment options within minutes and without affecting your credit score. No prepayment penalties. No home equity required.
Hearth makes it easy for you to find monthly payment options for your project, with:
Loan amounts up to $100,000
Affordable monthly payment options
Funding within 1-3 days
No prepayment penalties
No home equity required
Find convenient monthly payment options for your project. See your personalized payment plans without affecting your credit score now.
A typicaly residential homeowner can easily expect to pay $3.00 or more per square foot for their home's roof replacement. This includes tear off of the existing roof, disposal and installation of a new roofing system. This means on a 3,500 square foot roofing system the cost would be minimum of around $10,500.
Understanding When to Use Financing
Not all customers are a good fit for financing. When deciding if financing may be right for you for your roofing or home construction project consider the following items:
Time. Can the roofing or construction related project wait? Some projects are more time sensitive than others. If your roof is currently in a poor state and is allowing water into your home or structure then this would qualify as a project that could not wait. Water over time can cause incredible damage and waiting an extra few weeks or months can mean more damage and a bigger bill. Financing for these types of project is recommended and you can always pay the loan off early to avoid additional interest. On the other hand, if you don't have any major issues with the roof but know it will be time to replace it soon, go ahead and start budgeting so you'll be ready to pull the trigger when it comes time in the future. In both cases, a professional roofing contractor can assist in making the determination if the roofing situation is an emergency or can wait and be put off into the future. To book your free roof inspection with Good Shepherd Roofing click on the link below.
Finances. Your personal financial situation. Understanding your personal financial situation is an important piece of the puzzle as well. A routine roof replacement can be a significant investment. For example, a 3000 square foot, 2 story home in the Atlanta metropolitan market can cost easily between $10,000 to $20,000 for an architectural shingle with a comprehensive system to ensure a proper warranty. Given this type of expense it may be more pragmatic for an individual or a family to consider financing, particularly if the roof replacement is not covered by insurance and is a standard replacement due to extended age of your present roofing system.
Interest Rates for your Roofing Project
Make sure you have realistic expectations when searching for your roof financing package
Just like any other type of financing project that you may embark upon the interest rate that you can secure will primarily depend on your credit score and previous financial history.
In general roof replacement projects and related financial will classify your credit into 4 general buckets. Excellent, Good, Average and Poor.
Excellent can generally be associated with a premium credit score of around 740 and upwards. This credit score will offer the best and lowest interest rate for your home improvement financing project.
The least favorable interest rate will be encountered with credit scores identified as Poor. These interest rates generally start at around 500 and can range to the low to mid 600's. Interest rates for individuals considering financing a project in this category should expect to pay 25% and up in an APR (annual percentage rate).
One other option for individuals seeking financing is to put more money down into the deal. Good Shepherd Roofing offers limited in-house financing options for homeowners that have a down payment to put towards their new roof replacement. For some individuals, this in-house financing can be favorable and help to secure a new roof through a combination of a significant down payment and will help to ensure lower monthly payments and lower interest rates as well.
Obviously, any home improvement project, including a roof replacement should be well thought out. Here are a couple helpful articles below that will provide information on how to avoid a bad roofing company and qualities to look for in a good roofing company.
For more information see our guides:
What to Expect When Applying for Financing
When applying for financing via Good Shepherd Roofing's partner Hearth you can expect to be able to explore likely financing options for you without affecting your credit score.
After this initial exploration if an individual does believe financing may be the right path for them they can simply fill out an online application at which time Hearth will make a prompt decision.
After a successful decision is made GSR can receive funds for your project in as little as 1 to 3 days and get you immediately setup for a roof replacement. Overall you can expect the process to be streamlined and efficient with the goal being a quick determination on the credit options available to you.
Getting Your Roof Replacement Contract
So you had an inspection of your roof. A replacement was recommended and you've now secured financing and are ready to start. What's next?
One of the things that Good Shepherd Roofing will do with each customer is to walk them through our standard roof replacement contract language and make sure that all parties are comfortable with the scope of work, the price of the work, the materials being utilized, the warranties present, and the payment schedule.
These contracts are an important tool for the customer and company and help ensure that both parties live up to their contractual obligations in the roof replacement project.
Good Shepherd Roofing believes it is absolutely critical to make sure the consumer is protected. We've prepared a helpful article below that explores some of these important concepts below:
Completing Your Roof Replacement
Good Shepherd Roofing exists to help all property owners make the right decision regarding their home or business's roof. Once financing has been secured we get to work immediately.
As one of Atlanta's leading roofers we cherish our high reviews, decades of service to the industry and our ability to help our community, local families and resident businesses with all of their roofing needs. After our project GSR will provide warranty paperwork and followup to ensure you are satisfied with the job that has been done.
Getting the right company to install or repair your roof is a major investment. Remember: you’ve got choices when it comes to vendors and financing options. Take the time to make an informed, careful choice. Ask questions, do your research, and use the many resources available to make the decision that’s right for you. Do that, and you should stay dry and protected -- guaranteed -- for years to come.
A roof replacement is a significant project and one, when done correctly, that can provide many years of peace of mind and enjoyment of your home.
Ask Us Anything
Financing a roof replacement can be a overwhelming task. Would you feel more comfortable talking with a team member? Our expert team at Good Shepherd Roofing can answer any questions you have. Send us a message and we will get you an answer ASAP.