Roofing Companies With Payment Plans
If you want a new roof replaced, you need roofing companies that finance and have affordable payment plans.
Reroofing your Florida home is more expensive than you think.
No matter if you live in Fort Lauderdale or Miami, there is no significant difference in pricing due to the exact requirements of those building departments and Florida Building Codes.
Replacing your roof can slash your insurance premium or energy costs, but it isn’t a small project. A new roof can cost between $ 10,000 and $ 18,900,000. However, overburdened by high everyday bills, homeowners often need help to scrape the funds they need for a new roof.
It can seem like a hopeless Catch-22.
That’s where PACE comes in. So, Financing Roofs with Pace Program and financing can help you with low payment plans to put a new, energy-efficient roof on your home for no money down. If you keep reading now, you will learn how.
What Is PACE Financing?
PACE stands for Property Assessed Clean Energy. The PACE program is a joint effort between state and local governments and private businesses. Therefore, It is a financing program that provides no-money-down loans to homeowners for home improvement projects.
For this reason, the program helps homeowners afford improvements that:
- Increase the value or equity of the property
- Increase a home’s energy efficiency
- Install or upgrade renewable energy systems
- Implement water-saving technology or hurricane protection measures
PACE funds can help homeowners access the money they need to replace their roofs and cut their utility bills in half. Please keep in mind that there are several requirements for you.
Different localities use different names for the PACE program. So, depending on where you live, the program is also called the Home Energy Renovation Opportunity (HERO) program or Ygrene instead.
What PACE Is Not
PACE funds are not unlimited. PACE is not a governmental incentive program and does not provide “free money.”
In Reality, PACE financing is a government-subsidized loan. But, It lends money to homeowners at low-interest rates and allows them to conveniently repay the debt over a 20- to 30-year period through their property taxes.
Who Qualifies for PACE Financing?
To qualify for new roof financing through PACE, you must own the home you are applying to put a new roof on. In most cases, you must also be in good financial standing related to your property, which means you must be current on your property taxes and mortgage.
While you will undergo a credit check as part of the program, there is generally no minimum score you must meet to get approved.
How Does It Work?
Qualifying homeowners can receive up to 20 percent of their home’s value through a low-interest loan. Also they can then use the money to pay for approved home upgrades.
Can you finance a new roof using PACE? Yes! PACE funds can fund a new roof since new roofing is energy-efficient and increases a home’s value.
Usually, homeowners agree to use their property as collateral for the loan and pay the money back in installments. These installments are charged simultaneously as property taxes, usually once or twice per year, depending on where you live.
The positive thing is that the homeowners are not required to pay any upfront. So, there is no cost to apply for the program and no need to pay the contractors who install your roof directly.
You can complete the application process with the contractor’s help, who will do the work. Then the contractor completes the work and submits the necessary verification paperwork to your local government. In the meantime, automatically, you receive a bill for your periodic installment payments and instructions for paying them alongside your property tax bills a few times a year.
How Do You Apply for PACE Financing?
Financing a new roof via PACE works differently than most other loan programs. Instead of looking for a lender, you begin by contacting the contractor who will do the work your home needs. The contractor will now help you through the following steps to finance the roof.
Finally, Planet Roofing will help you complete the initial application paperwork. Also, we can provide forms and help you select qualified roofing products and answer any questions you may have along the way.
- Provide Documentation
You will need to prove that you qualify to participate in the program. This means showing that you own your home and are current on your mortgage and property taxes. You will also need to submit a credit check.
- Talk to Your Mortgage Lender and a Program Representative
If you have a mortgage, you must advise your mortgage lender of your PACE application. Also, please speak to a PACE program representative to clarify any questions and confirm that you understand the loan and its repayment terms.
- Sign Your Contract and Get Your New Roof
When all the terms have been finalized, you will be ready to sign your contract. Once the contract is signed, you can install your new roof immediately!
- Sign the Certificate of Completion
You will sign the PACE Certificate of Completion when your new roof is complete. At that moment, that form will complete the process!
- Pay Back Your Loan
Whenever you receive a bill for your property taxes, you will also be charged for your PACE installment payment. Make your payments on time throughout your loan while enjoying monthly savings on your energy bills!
Many roofing companies offer payment plans or financing options to help homeowners manage the cost of roof repairs or replacements. These payment plans can vary depending on the company and may include options such as:
- Installment Plans: Some roofing companies may allow you to pay for your roofing project in installments over a certain period of time. This can help you spread out the cost and make it more affordable.
- Financing Options: Some companies partner with financing institutions to offer loans or credit options specifically for roofing projects. These loans may have low or no interest rates for a certain period, making it easier to pay off the project over time.
- Credit Cards: Many roofing companies accept credit cards as a form of payment. If you have a credit card with a low interest rate or a promotional offer, you can use it to cover the cost of the roofing project and then pay it off gradually.
When considering roofing companies with payment plans, it’s important to do your research and choose a reputable company. Here are a few steps you can take:
- Get Multiple Quotes: Reach out to several roofing companies and request quotes for your project. Compare their prices, payment options, and financing terms.
- Check Reviews and References: Look for reviews and testimonials from previous customers to get an idea of the company’s reputation and customer satisfaction level. You can also ask the company for references and contact them directly to inquire about their experience.
- Understand the Payment Terms: Before committing to a payment plan, carefully review the terms and conditions. Pay attention to interest rates, any additional fees, and the duration of the payment plan.
- Ask Questions: If you have any doubts or concerns, don’t hesitate to reach out to the roofing company and ask for clarification. It’s important to have a clear understanding of the payment plan before making a decision.
Remember, each roofing company may have its own specific payment plans and options, so it’s best to directly contact the companies you are interested in and inquire about their offerings.
Contact us to learn more about these excellent financing deals!!
- 0-Money Down
- Low Monthly Payments
- Easy Approvals
- No Penalty for Selling Early
- Roofing
- Windows
- Solar Panels
- Air Conditioning
- Water Heater
- Etc…
