2023 has been a tough year for roofers and homeowners looking to improve their homes. Manufacturers have raised their prices on materials by more than ten percent, which, unfortunately, contractors are forced to pass on to the consumer.
At Pro-Home Services, we leverage our long-term relationships with our shingle and siding providers to negotiate the best possible prices on the materials we use for our customers. However, while prices are stabilizing, they are not declining.
Some customers plan for a new or replacement roofing project but have flexibility regarding when and how to fix or replace their roof. Other homeowners weather bad storms or accidents that can create an emergency that requires a roofing repair or replacement ASAP, regardless of their financial picture. The unexpected expenditure can be a genuine hardship, and we understand the distress at Pro-Home Services. In these cases, roofing financing is a godsend.
Why Roofing Financing?
In general, our customers seek financing for three main reasons:
- They have an emergency that takes them by surprise. Everyone needs a functioning roof for the safety of their possessions and family. A sudden storm or accident can lead to big problems, including safety hazards and additional property damage if repair is delayed.
- They have some savings to apply toward a roofing project, but more is needed. Homeowners in this position still seek financing. They often use all or some of their savings as a downpayment to pay the rest over time.
- They need an option over credit cards with better interest. For homeowners who usually put significant purchases on a credit card, the cost of a new roof may exceed their limit. A financing option allows them to delay payment without the exorbitant credit card interest fees.
Regardless of the reason you need financing, Pro-Home Services offers several options.
Roofing Financing Through Pro-Home Services
Roofing financing enables you to pay off the entire roofing project gradually instead of in one lump sum. Pro-Home Services offers several options for customers to finance their projects through Wells Fargo Financial Services, including an interest-free roofing financing program.
Our program offers three options for lower interest rates or extended pay-off periods.
Option One offers a special rate of 12.90% with a minimum payment of 2.15% of the purchase balance required. Customers can finance $24K for their home improvement project with 65 months to make repayments at $516/month.
Option Two offers an interest rate of 9.99% for 96 months. Customers can borrow up to $24K with equal, monthly payments of $366/month.
Option Three offers no interest if paid in full within 18 months through regular payments. Loans are available up to $24K. The required minimum monthly payment is $841/month. Paying off the loan within 18 months to avoid interest will require payments of $1,334. Otherwise, the loan can be paid off in 52 months if making minimum payments.
Most customers choose Option Three to escape interest charges and pay off their loan in either 12 months or 18 months. How can you beat no interest on a loan? Alternatively, the longer-term loan offered in Option Two is the next most popular.
Applying for Roofing Financing
Wells Fargo makes the loan application process easy with an online form that customers complete in five minutes. However, we always recommend that homeowners reach out to their bank to check on their home improvement loans for even better rates.
If you finance through us, Wells Fargo will check your credit score, income, and debt-to-income ratio. However, if you qualify for roofing financing through Pro-Home Services, not only will you receive quality roofing repair and replacement, but you will also receive it with a customizable finance deal that’s right for you.
If you need financing for an upcoming project and want a free estimate from Pro-Home Services, please contact us to begin the process. We have the quality materials and service you want with a plan to help you finance it too.