Roof Financing Instant Approvals and their Importance

Roof Financing Instant Approvals

Roof Financing Instant Approvals:

In today’s post our panel of experts here at American Standard Roofing discuss roof financing instant approvals. We see a lot of customers who are interested in getting their roofs financed. Roof financing instant approvals, while common can result in long-term consequences. The key is finding the right loan providers and terms.

Does a Good Rate Matter?

project-finance

For roof financing instant approvals? The short and quick answer is yes. Our team explains that it is important to get a decent interest rate because it doesn’t make sense to take out a loan and pay a fortune in interest. Any interest rate over a period of time can start accumulating. Keeping your interest rate down can save you from ultimately paying more in the long run.

Be Cautious of “Introductory Rates”:

Signs for Non Proper Roof Ventilation

Our team advises that homeowners need to be careful of introductory rates which salespeople always talk about as part of their pitch. In our experience, we have seen plenty of advertisements going around that offer you a very low introductory rate. However after that time period for the rate is over, the interest rate jumps. This is especially dangerous because most of us do not see this coming.

What We Recommend:

Good Advice

Our team advises the following:

  1. Our first recommendation when it comes to roof financing instant approvals is to make sure that it is a fixed rate loan.
  2. Next we recommend looking into the loan structure. This includes homeowners doing their homework on the terms of the loan. The total amount of interest that you will pay is not only dependent on the rate but also on the length of the term.
  3. We also recommend finding out if there is an automatic payment schedule that homeowners can set up. This will help in withdrawal directly out of your bank account saving them the hassle.
  4. Our team advises homeowners check up policy regarding prepayments. Sometimes there is a fine for simply paying your loan amount early.
  5. The best type of loan, in our humble opinion, is a simple interest loan that has no prepayment penalties. This way, you have the comfort of a low monthly payment with the ability to pay it off at any time without the added responsibility to cover the interest.

What We Do Not Recommend:

Be Careful

Our experts advise that homeowners should steer clear of secured loans. What an unsecured loan means to homeowners is that there is no lien placed on your property, the opposite of a secured loan. This is not only important if you are looking to sell your house soon, it is something everyone needs to be aware of. When a lien is placed on the property it is notoriously difficult to get rid of and you are at the mercy of the lending institution. They might offer low interest rates but always remember the pitfalls. Harsh finance conditions can come over anyone. It is best to not risk things.

Here for All Your Roof Financing Instant Approval Needs:

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HAHID

We are certified and licensed roofing contractors. Roof financing is our game. We also have over 36 years of experience in the industry. American Standard Roofing stands behind it’s work. We will get you the loan you need for your roof. Our reputation is important to us. We believe in never sacrificing quality for easy profits. We also stand behind our services for the lifetime of the product, both labor and material. That is why we are #1 metro Detroit roofers. Give us a call today at (248) 350-2323 to see how we can help you out.

Serving Southfield

Southfield, MI., U.S.A

We aren’t just proud because Southfield is the town that our business is located in. American Standard Roofing is proud of the city itself and all that it has accomplished. This article is dedicated to the city in its past glory, current progress, and future potential.


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There are many businesses located in Southfield, making it the second largest center within Metro Detroit, with over 27,000,000 square feet of office space. There are more than 100 Fortune 500 companies that have offices in the city! These business owners only expect the best, and their commercial buildings require certified installers to service their roofs. We hold exclusive contracts with numerous companies within the city that we are very proud to have within our business portfolio. Many of the older homes also have historical qualities that deserve to be preserved, so it’s important that you choose an experienced roofing contractor capable of respecting your property.

According to the recent census, Southfield is occupied by a workforce primarily composed of sales and office workers. Nearly half of the citizens here hold a 4 year bachelors degree, making it a very well educated community. However, the per capita income is only $28,895. Providing proper roofing services in our community means we constantly need to be working to find our customers the best financing options available. We have no money down programs, 0% financing, and help those with good or bad credit.

The building department requires that we pull a permit before installation, and they also have an open roof inspection where they inspect the work we are doing to make sure it is up to their standards. In fact, we are so well known within the city, if you call the building department and ask them for a roofing recommendation, they will give you our name. We have done, and hope to continue to win bids for, various government properties of all sizes.


112 pixelWe are certified and licensed roofing contractors.

We also have over 36 years of experience in the industry. American Standard Roofing stands behind it’s work. Our reputation is important to us. We believe in never sacrificing quality for easy profits. We also stand behind our services for the lifetime of the product, both labor and material. That is why we are #1 metro Detroit roofers. Be sure to give us a call at (248) 350-2323 for all your roofing, siding and guttering needs.

Roof Financing: ASR’s Guide For Homeowners

Roofing Financing

Roofing Financing Made Easy:

In today’s post, our panel of experts here at American Standard Roofing discuss roofing financing made easy and measure some pros and cons of financing itself.

Financing Comes At A Cost:

Cash or financing

It should come as no surprise to most people that financing typically comes at a cost. Technically, that is never supposed to be passed on directly to the customer. It is instead supposed to come out of the roofers proceeds. None the less, this just means that the homeowner is going to get  a better deal or “discount” if they pay by cash. However, this is not always an option. For certain people it does make more sense to look into roof financing further.

What To Look For In A Loan?

Think Before Making Downpayment

Our team advises to always make sure it is an unsecured loan with a fixed rate and no prepayment penalties. With that out of the way, lets focus on people that are trying to decide whether or not to finance with the option to pay cash if need be. Obviously, if you have no other option then to finance that new roof you only need to find the best program and estimate available. But for those individuals with the money in the bank that are trying to decided whether or not to keep it in the savings account, there are a couple further things to consider.

Interest Rate:

 

licensed roofing contractors, detroit MI

Always factor in the interest rate when looking for roofing financing. If you can get a better return through your own personal investments then go for it. Most of us are not financial gurus and only making a modest return on investment so therefore need to seriously consider how much financing is going to cost for the entire term of the loan. Next, take a good look into your future and try, to the best of your capabilities, to decide if you will have enough money if a disaster arises. Such disasters include medical emergencies or even the lose of a job. Unfortunately, this kind of stuff happens everyday. If paying cash for your new roof is going to even potentially put you in a position where you will not be able to care for yourself or your family then, once again, financing may be the answer. 

Use Your Credit Line Wisely:

Important Decisions

The last thing to consider if you are looking to finance is if you should jump on the opportunity to get more work done or purchase better materials with the line of credit you are opening. Most of the time, the finance company will extend you a credit limit just like a credit card and you can then decided what type of work you want done to fit within the allotted budget. Many customers endlessly shop for the best deal because they just don’t have a lot of cash saved up. But when you are borrowing money, it means that you are able to get a whole lot more done, or are able to purchase a nice upgrade, for a very minimal increase in the monthly payment. Yes, long term it does cost you more. What you have to weigh out in this circumstance if the added value in the additional work or material upgrade is worth the extra expense. for instance, if you are stuck between getting a cheap 3-tab shingle for your new roof paying cash or can get an upgraded architectural lifetime shingle if you finance, you are a lot safer long term sucking it up and going with the latter option.

We’re Here For All Your Roofing Needs!

 

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We are certified and licensed roofing contractors. We have a lot of experience with roofing financing procedures. We also have over 36 years of experience in the industry. American Standard Roofing stands behind it’s work. Our reputation is important to us. We believe in never sacrificing quality for easy profits. We also stand behind our services for the lifetime of the product, both labor and material. That is why we are #1 metro Detroit roofers. Give us a call today at (248) 350-2323 to see how we can help you out.

Easy Roof Financing: A Guide By American Standard Roofing

Easy Roof Financing

Easy Roof Financing:

While we have extensively covered easy roof financing in the past, our team here at American Standard Roofing never rests. We have come up with another easy guide for homeowners. In today’s post our team will discuss roofing loans and affordable options homeowners have. In our experience homeowners are generally not aware of all these available options. We are here to show them how easy roof financing can actually be. This is if you have the right people by your side.

Roofing Loans: Affordable Option

Affordable

For easy roof financing, homeowners need to look at different types of loans available by lending institutions. This will help you finance and spread the payments of your new roof out over time. A new roof can add value to the home. It can also add to the aesthetics factor of your home. There are many types of roofs that a homeowner can pick from. Easy roof financing is generally available for all kinds of roofs. We explained this in a previous article:

Loan Types

Types of Loans

 

Do Your Homework:

Homework

We always advise homeowners to never get caught off-guard. Easy roof financing becomes to look hard when you start making bad decisions. In our experience, we often see homeowners feeling pressured and rushed. We have also seen hasty and regrettable decisions made by homeowners because of friends and misguided advise from salespeople. Not to mention, even at the slight hint of getting a new roof salespeople swarm you with deals, sometimes being extremely pushy. Once again we advise homeowners to do their homework. Always get multiple quotes. The salesperson might tell you that this will waste you time and opportunity but you should know better.

GIVE US A CALL TODAY!

We are Michigan’s #1 roofers for easy roof financing. We have been in the roofing business for over 36 years and know what we’re doing. Over a period of time we have built relationships with a bunch of financial institutions. We will work with you and get you on your way to getting that new roof. Call us today at (248) 350-2323 or visit our website here.

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Roof Financing Michigan: Contact American Standard Roofing!

Roof Financing Michigan

Roof Financing Michigan:

In today’s post our team of experts discuss roof financing Michigan. We are based in Southfield Michigan and have a lot of experience with roof financing Michigan specific. We talk about some different types of roof financing. We also go over what type is best suitable for when. A must read for all homeowners looking for roof financing Michigan specifically, and wanting a new roof.

Don’t Let Quotes Scare You

Quotes Scare You

If you just got a quote for a new roof and the price has put you in panic mode, take a deep breath! Yes, roofs are an investment, and if it is one that you haven’t planned for, it might catch you by surprise. However, don’t fret. There are other ways to pay for a new roof, even if you don’t have the cash saved up. Always do your homework though and get multiple quotes.

Roof Financing:

Roof Financing

There are several different types of financing available. Some of these are:

  1. Your local bank or credit unions.
  2. Credit cards.
  3. Personal loans.
  4. Home refinancing.
  5. Home equity lines of credit.

Credit cards and personal loans are unsecured debt. This means means defaulting doesn’t automatically give them partial ownership of your home. The drawback to that is they often have higher interest rates. Home refinancing and home equity lines of credit are different in that you are putting up your home as collateral for the money they are loaning you. We do not recommend secured loans. However homeowners should discuss with their banker what the best option is for them. It depends from situation to situation.

Financing Offered by Contractors:

Repairs

Our team would like to mention that contractors too might even be able to offer you financing. Many companies have relationships with lenders that allow them to apply for a loan for you, and the lender would pay the contractor directly. These types of loans are specific for construction. They also often have 0% interest rates and other promotional specials. However, just like a credit card, if you miss a payment the interest rate will usually go up substantially. Our recommendation to homeowners is to make sure they are keeping track of when payments are due.

Grants:

Another option if you do not have good credit, or taking out a loan isn’t right for you, is grants. Depending on the area that you live in, there are often government grants available to help with necessary home improvements like roofs. These may be put on by your city, county, or state, so be sure to check with local building departments to see what is available. They don’t always cover the whole amount of the job, but they might help with a large percentage. That would take the burden of entire payment off of homeowners shoulders.

Always Do Your Homework!

Homework

Finally, our team advises that whatever you do, don’t flat go with the lowest bid. It does not matter if  it is the only one you can afford. A bad installation will end up costing you a whole lot more. A redo will cost a lot more if you look at long term. Our advice to you is simple: talk to your contractor. See if there are any options or solutions they can offer. Most of the time they are willing to work with you on the price.

Call Us Today!

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We recommend homeowners contact professional roofing specialists as they can make suitable recommendations for roof financing Michigan specifically. Here at American Standard Roofing we know of reliable solutions to putting a new roof over your head. We have a lot of experience in dealing with lending institutions and financing in general. Give us a call today (248) 350-2323. We will be glad to help!

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Simple Roof Financing Options: We Make It Easy as 123

Simple Roof Financing

Simple Roof Financing:

Simple roof financing is garnering a lot of attention this season. While we have done numerous simple roof financing posts in the past, our team here at American Standard Roofing will be doing one more for homeowners.

Be Careful When Looking for Financing:

Be Careful

Our team advises homeowners to be careful when shopping for simple roof financing. It is tough enough trying to find a qualified roofing contractor and then negotiating a fair price. But, when roofing companies hear that you are financing, their whole game plan changes. Now, they want to sell you on a payment and upgrade packages. While they are at it, they will also want to sell you new gutters, windows, and insulation. Our team’s advice is simple. Take your time and do your homework like we remind our readers on our blog. There are a bunch of financial institutions ready to lend money out there for simple roof financing options. Homeowners just need to research well before deciding.

What Homeowners Should Do:

Today's Lesson

While there has been a crack down in the finance industry, the home industry still has many predatory lenders. We still see a lot of deceptive practices and tricks being used for simple roof financing. In our previous articles we have discussed what type of financing you should ask about when looking to purchase a new roof. In summary:

  1. Homeowners should make sure the loan is simple interest.
  2. Make sure it is an unsecured loan with a fixed interest rate.
  3. Before getting to details regarding loan, homeowners need to make sure they are purchasing good quality product from a reputable company. Always make sure you are getting a fair deal.
  4. Tell the prospective contractor that you will be financing but do it at the end. If you disclose this information to early they can either try to take advantage of you, or sell you things that you just may not need.

In short, our team suggests advises that there are costs involved in financing that need to be taken into account. Homeowners have to decide if that is the best way to go or not when considering simple roof financing.

Always Negotiate!

Negotiate

Our team advises that homeowners negotiate their best deal based on the total, final price. Do not let amount of monthly payments be a decider. This is common trick used to deceive customers who are looking for simple roof financing. A small monthly payment may sound good but it adds up in the long-run. It is even worse if you have to pay fines on it in case you get late.

Be Careful With Down Payments:

Cash or financing

Our team also advises that homeowners be careful about giving the contractor any money up front when financing. There have been instances in the past where customers have been duped to pay inflated payments mid way through the project after they have made a hefty amount as down payment. Always remember, having an open credit line doesn’t mean you can be taken advantage of. Stick with the total amount at the start of the project till the end of the project.

We’re here to help!

ASR Logo

Now that you know what to look for in a loan, you can apply directly through our website. We are licensed, bonded and insured contractors. We will find you the best roof loans for bad credit available. We’re Michigan’s #1 roofers. We have been in business for over 36 years. We know the right people who can get you financing. Call us today at (248) 350-2323. Or CLICK HERE. We’ll get you approved!

Roofing Loans Financing Click Here

Roofing Loans Financing: A Guide for Homeowners

Roofing Loans

Our team here at American Standard Roofing discussed types of roofing loans financing in an earlier post. We have also discussed in depth the options homeowners have when looking for roofing loans financing ways and methods here. However the topic generates so much buzz that we decided to go over it another time and explore it a bit further. We see plenty of homeowners looking for roofing loans financing and related information. That is why our team of experts have come up with a few tips that will help deciding based on different situations.

Don’t Get Caught Off-guard Between Roofing Loans Financing:

The biggest piece of advice we can give homeowners is this: never get caught off-guard. It is very easy to make a poor decision when it comes to roofing loans financing. Homeowners often feel rushed and pressured. Misguided advise from salespeople, and even friends at times, can result in some hasty and regrettable decisions. Not to mention, even at the slight hint of getting a new roof salespeople swarm you with deals, sometimes being extremely pushy. But, remember this: do your homework and get multiple quotes no matter how much the salesperson might tell you that this will waste you time and opportunity.

Don’t Get Pressured Into Signing Anything:

As we explained earlier, always do your homework. And if you have, feel free to sign the contract if you think that is the best deal being given to you when looking for roofing loans financing. However, if you are unsure, do not let pressure tactics get to you. Rule of thumb is to never sign the contract with anyone simply after just one estimate and quote. If you have a beautiful home interior and can see a dripping leak, do not panic. This situation should not let you make hasty decisions. Find a way to make temporary repairs and do not start on your project until you have done your complete and through research on best prices, deals and options available to you for roofing loans financing.

Always Look Over the Fine Print:

It is essential that homeowners take the time to look over the small and fine print when signing for roofing loans financing. Our advice is simple. Take all the information that the estimator wants to share with you, and then look it all over with a fine toothed comb when you are by yourself. You do not need anyone trying to sway your opinion or to misguide you when it comes to the small print on the contract.

Important Factors Homeowners Need to Check:

A few things that homeowners need to focus on are term length, the interest rate, and general loan provisions when looking for roofing loans financing. There are a few questions and issues that homeowners need to ask and check irrespective of any circumstances or factors:

  1. The rate for homeowners. Is it fixed or a variable rate? It matters because variable rate can change after a certain period of time. Fixed rate remains the same for the duration of the term.
  2. Homeowners need to check if there an early termination fee or prepayment penalty for the roofing loans financing they are getting. Sometimes homeowners want to pay off the loan early. If that’s the case, make sure there is no associated penalty in roofing loans financing.
  3. Another important one is if there are any other upfront charges for taking out the loan. If possible avoid having those set in the roofing loans financing terms.
  4. This is a big one. We always advise going for an unsecured loan. That means if possible, you do not have to put your property as a collateral or guarantee. That way, if God forbid homeowners are unable to pay, their home is not placed as lien on property.
  5. Always check if it is compound or simple interest loan.

Always Go With Licensed Contractors:

Always go with licensed, bonded and insured contractors, especially when looking for roofing loans financing. The reasons are simple:

  1. Properly licensed, bonded and insured contractors will have a certain rapport with lending institutions. This is more applicable if the contractors do a lot of volume work and have a lot of projects going on.
  2. These contractors are able to choose for the best interest rate and terms with minimal effort. This is because they have options they can choose from.
  3. Such contractors have a reputation in the industry. They have a customer base which they do not want to upset. This is why they will work harder for the customers to get business and find best options in the market.

We’re here to help!

 

Now that you know what to look for in a loan, you can apply directly through our website. We are licensed, bonded and insured contractors. We will find you the best roof loans for bad credit available. We’re Michigan’s #1 roofers. We have been in business for over 36 years. We know the right people who can get you financing. Call us today at (248) 350-2323. Or CLICK HERE. We’ll get you approved!

Roofing Loans Financing Click HereGet me approved

 

Bad Credit Roof Financing: Making Roofing Loans Easier

Bad Credit Roof Financing

Bad credit roof financing has become a primary hurdle for homeowners in the roofing industry today. Our team here at American Standard Roofing advises prospective bad credit roof financing homeowners looking for roofing loans, to be extremely careful. Finding a professional roofer with great background, experience and reputation is essential. That said, when majority of roofing companies hear that you are looking for bad credit roof financing, they start using unsavory tricks. Multiple ‘plans’ suddenly start popping up for bad credit roof financing, along with options that sometimes homeowners do not need. Their salespeople try to force down more projects on you piggybacking on the bad credit roof financing and loan. Here at American Standard Roofing we think this is extremely unprofessional behavior. Our business philosophy is simple: the more aware customer is the better it is for everyone. That is why we have an article for you today that will discuss in-depth bad credit roof financing and loans for better homeowner awareness.

Bad credit roof financing shouldn’t be a hurdle for homeowners!

Bad Credit Roof Financing Hurdles

There has been a decline in some distasteful practices in financial sector over last few years. This has resulted in more cleansed environment in terms of greedy and wolfish common practices. However, unfortunately, the home improvement and roofing industry still have loopholes for bad credit roof financing that can hurt homeowners.

Discounted cash prices or bad credit roof financing?

Cash or financing

Homeowners need to understand is importance of quality products and service for the roof. This comes even before the bad credit roof financing loan. After you have decided on that, let the contractor know you are interested in financing. Any earlier and you risk being taken advantage of. This is because most roofing companies have a knack for selling things homeowners rarely need. One important thing to note here though is that usually contractors will provide a discounted cash price when you bring up bad credit roof financing. It is up to the homeowner to decide if that is a good option. In the end, the homeowners need to decide whether monthly payments (which usually come with added costs) is more feasible for their wallets, or a discounted total payment is the way to go. It all depends on individual circumstances.

Negotiate, negotiate, negotiate:

 

Negotiations

We cannot emphasize on this enough. The best way to negotiate your bad credit roof financing is by considering the total amount you are willing to pay. It is not by playing around with monthly payment amounts. Negotiate your bottom line. A common trick contractors use is throwing a low monthly payment at you. A low, fixed month payment is great. But is it great if you have to pay the amount for over a decade? Will it be okay if you miss a payment and the amount suddenly triples? Not so much. Negotiating terms before hand is also important because taking out bad credit roof financing loans comes with great responsibility. This also needs to be negotiated seriously because it comes with high chance of accumulating debt over a period of time as well. Not to mention the impact it will have on borrowers credit history.

Make your down payment after much consideration:

Think Before Making Downpayment

Homeowners need to pay special attention when making down payment for the bad credit roof financing loan. Do not let contractors change numbers mid way through the projects after you have made the down payment. A homeowner can get caught making a huge down payment and then having to pay more because original quoted amount gets changed because of ‘unforeseen circumstances’. Simply because customer has an open credit line does not give contractors the reason to charge more.

So what are some kinds of bad credit roof financing and loans?

Bad Credit Roof Financing Loans

Luckily, there is a wide variety of bad credit roof financing available. The best advice to look for such a loan is to check banks, credit unions and other lending institutions. Most of them are willing to work with bad credit. There are other options as well like personal loans, credit cards, and other lines of credit that we will discuss in detail underneath. Besides this, another option is to talk to your roofing professionals. If it is a reputable company, they should be able to offer bad credit roof financing with ease. Following are a few ways homeowners can look in getting loans:

  1. Professional Contractors: Your contractor might even be able to offer you financing. Many companies have relationships with lenders that allow them to apply for a loan for you, and the lender would pay the contractor directly. These types of loans are specific for construction, and often have 0% interest rates and other promotional specials. However, just like a credit card, if you miss a payment the interest rate will usually go up substantially, so make sure keep track of when payments are due.
  2. Federal Housing Administration (FHA) Title I: This loan can work for people looking for bad credit roof financing. If you are a home owner and you do not have a lot of equity built up, you can generally get qualified for this. It is very simple how this works. Any lending institution (such as bank or credit union) will provide loans from their funds and FHA will insure them against any loss they might take if borrower defaults. This loan can be taken to work on roof repairs, replacements and even some luxury item renovations. Here is a link to the program’s website for more information.
  3. Credit cards: These are a good mode of obtaining a loan, and their more feasible if their interest rates are low. Homeowners do need to have good to moderate credit to qualify for that, however, in most cases. Many customers with bad credit opt for applying for credit cards that have a security deposit with them and a lower credit line. These type of credit cards are easier to obtain when looking for bad credit roof financing. If you’re good with managing finances, this can work out well. Break up the cost in monthly payments and do not charge anything else to the card. An excellent tip from our experts here at American Standard Roofing.
  4. Equity Line of Credit (HELOC): This is another option customers can look into. Existing home owners can put their home as collateral for a loan and then use it for roof repairs/replacements. More information about HELOC can be found here. This type of line of credit is generally only used for large expenses. They can include medical bills and necessary home improvements. A good idea is to draw on this line of credit. Then finance a new roof with this credit, and pay it all off over time eliminating further need for search of roofing companies that finance. Home refinancing and home equity lines of credit are different in that you are putting up your home as collateral for the money they are loaning you. You should discuss with your banker what the best option is for your situation.
  5. Build Your Savings: Start saving! That is the best option among all other for bad credit roof financing. Start putting away a fixed amount today. This will gradually build up for that rainy day when you need a new roof.
  6. Grants: Finally, if you have tried looking into all other options for bad credit roof financing, and still come short, do not worry. Most areas in the US have allocated grants from the federal and state government. Homeowners will have to check with local building administrators and talk to community members check what is available. While they rarely cover whole amount of project, they can still cover a major chunk of costs without hurting the wallet.

Think quality of work, not just costs:

the right balance

Just like everything else in the world, the right balance is very important. While costs might be important, remember that a bad installation can come back and haunt you. There needs to be a good balance between the quality of work and products and the costs incurred by the homeowner. Sure bad credit roof financing is harder to get. But that doesn’t mean you should compromise on quality.

Other important questions to consider when considering taking out a loan:

  1. Another important thing to consider when working with bad credit roof financing is asking yourself if you really need the loan. Is it actually need or a want? Will you be able to survive without taking out this loan?
  2. Will the new roof or any other improvement being done from this loan actually increase your home’s value?
  3. At this time, when you are planning on taking out a loan and in need of bad credit roof financing, can you really afford the renovation? In case of roof, can you afford it in terms of monthly payments or discounted cash price?
  4. Finally, will there be any tax deductions you can claim at the end of the year? Are there any credits that you as a homeowner can earn due to taking out this loan?

Have you shopped around?

Compare Lenders

The above info-graphic is from Consumer Financial Protection Bureau. Most of the homeowners do not do necessary homework when it comes to taking out a loan. Keeping in mind the above types and conditions e mentioned, there are a variety of bad credit roofing loans out there with different interest rates. Our advice to homeowners is simple: get multiple quotes from several different contractors and lenders. You should get quotes from contractors before approaching lenders so that you’ll know how much you need to borrow. Our team also advises getting a minimum of at-least 3 quotes from different contractors.

One of the benefits for that is when you approach a lender to get a loan, they will have an easier time determining bad credit roof financing amount. This will also go on to show the lending institution that you are serious about the work that needs to be done. It will also go on to show that you have done your homework and have come to them for borrowing after due diligence. In addition, homeowners should also check with their local bank or credit union that they have an ongoing relationship with over the years. These lending institutions might be willing to work with homeowners they have known for a long period of time despite bad credit and other circumstances.

Getting more than 1 quote for the roof job also enables homeowners to find the best and the most cost effective plan tailored for them. This effectively will reduce the cost of the project and make the bad credit roof financing amount lower making it easier to get the loan.

So what should homeowners do? Go online, talk to people for referrals and do your homework when looking for contractors. There are many out there but you will have to differentiate the good ones from the bad ones. That is not an easy task in itself given the market saturation when it comes to roofing professionals.

A few things you should be looking for in contractors:

  1. Make sure contractors are licensed, bonded and insured.
  2. Make sure they offer full warranty of the product along with labor. Here at American Standard Roofing we offer 30 year product and labor warranty.
  3. Make sure the contractors are reputable. Go online and check their reviews. Customer satisfaction is key. Online reviews are an excellent way of judging how contractors treat their customers. Our reviews are best in the business.
  4. Talk to people in the community. Referrals are an excellent way of finding good contractors.

How does Credit Score Matter?

Good credit Infographic

Above is an excellent infographic from credit.org that shows what credit scores lending institutions consider when making decisions about bad credit roof financing. While not exact, it should give homeowners an idea of how interest rates vary as credit scores go up or down.

While it may look scary, but here at American standard Roofing, we work with multiple financial institutions who will work with you.

GIVE US A CALL TODAY!

We are Michigan’s #1 roofers. We have been in the roofing business for over 36 years and know what we’re doing. Over a period of time we have built relationships with a bunch of financial institutions. We will work with you and get you on your way to getting that new roof. Call us today at (248) 350-2323 or visit our website here.

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If You Need Help With Roof Loans For Bad Credit Look No Further

roof loans for bad credit    roof loans for bad creditRoof loans for bad credit

We help with roof loans for bad credit all the time!

Are you looking for roof loans for bad credit? Do you have the earning means but not the optimal credit? Look no further. Here at American Standard Roofing, we work with several lending institutions to help get you roof loans for bad credit.

A recent report by CNN money points out:

The U.S. economy grew 3.7% in the second quarter, a very big upward revision than the first official estimate, 2.3%, according to the Commerce Department’s measure of gross domestic product, the broadest measure of economic activity. Economists projected the new number to be 3.2%.

This positive growth in US economy is a welcome news in the roofing industry. It means financial institutions that lend money will be more willing to provide roof loans for bad credit.

Unfortunately, not every roofing contractor is willing to help homeowners with less than perfect credit history get roof loans for bad credit. Homeowners in Metro Detroit area have faced much hardship in the the recent past.They have been unable to keep up with their home, auto and other loan payments resulting in bad credit history. Not exactly a position to be stuck in when you are looking for roof loans for bad credit. Fear no more though. Our experts at American Standard Roofing advise that banks are now approving credit score as low as 400. They have also made a comprehensive list of recommendation when looking for roof loans for bad credit.

1. Simple Interest Loan:

When it comes to roof loans for bad credit, this is the go to loan you should look at. A homeowner can end up paying less in interest than a standard loan if he/she makes payments early. A potential drawback however can be that if payments are not timely, borrower ends up paying substantially more.

2. Prepayment Penalty:

Always make sure there is no prepayment penalty for the loan. This is useful because if the homeowner wants to pay his/her roof off early, there would be no penalty on that.

3. Fixed APR:

Our experts recommend going for fixed rate roof loans for bad credit, instead of a variable one. It provides ease of mind to borrower knowing that the rate is fixed for the duration of the term and will not go up after a certain time period.

4. Unsecured Loan:

By definition, an unsecured loan is given by keeping in view the borrower’s creditworthiness. This means no use of property as collateral. This is a much safer loan to get when searching for roof loans for bad credit. It also comes recommended from our team.

5. Shop Around for Best Options:

Make sure that when you are approved for the loan, you can shop around with different contractors, suppliers or manufactures. Sometimes loan approvals come with limited choices. This step will help ensure you can get the best deals out there.

6. Show Full Income:

Sometimes homeowners who apply for a loan fail to show complete annual income. Income includes not just your salary but any other sort of payment that might be included in your household. This can have a major impact on the result of loan approval.

7. Down Payment:

Sometimes making a down payment also helps. Lending institutions sometimes decide whether they want to give a loan based on down payment. Making a down payment shows positively when asking for roof loans for bad credit.

8. Co-signer:

While not the most ideal situation, most of the times people with bad credit need a cosigner. It helps tremendously if the cosigner and the borrower of the loan share the same house. It makes the decision easier for lending institutions.

We’re here to help!

Now that you know what to look for in a loan, you can apply directly through our website. We will find you the best roof loans for bad credit available. We’re Michigan’s #1 roofers. We have been in business for over 36 years. We know the right people who can get you financing. Call us today at (248) 350-2323. Or CLICK HERE. We’ll get you approved!

Simple Guide to Roofing Companies That Finance

project-finance

While there are many roofing companies that finance, homeowners need to do due diligence for best results. Looking for ways to pay for your new roof is no easy task. We have created a simple guide on roofing companies that finance after thorough research, weighing-in on options and different essential factors.

Why the Roof?

Roofs are an essential part of any building or house. They protect the inside of the building from natural elements such as all sorts of precipitation and extreme temperatures. Needless to say, without a roof, a building is incomplete. A perfect roof is even more important for your home. It improves the aesthetics as well as durability of the home. That is why paying special attention to roofing companies that finance is an essential ingredient of the entire mix. A new roof can be costly, tiresome and downright depressing to figure out small details. Details like how to pay for labor, products, services etc.

Fortunately for our readers, we have done most of the work for you guys. In today’s post, we will talk about different options for loans, rebates, and methods helpful to you. This will essentially cut your time in half when you are researching on roofing companies that finance.

Quick Glance at Roofing Companies That Finance:

Government Loans & Rebates

FHA Loan

A loan called Federal Housing Administration (FHA) Title I is available to US citizens looking for roofing companies that finance.This loan includes roof financing. Most property owners with limited home equity and good credit generally get qualified for this. How this works is very simple. A bank will or a qualified lender will provide these loans from their own funds and FHA insures them against any loss they might take. This can include roofs and even renovations to some luxury items like new patio, swimming pools, outside fireplaces etc. More information on roof financing can be obtained from the program’s website.

Energy Efficient Roofing

heat reflecting roofheat absorbing roof

For homeowners looking into energy efficient roofing solutions, we strongly recommend contacting Department of Energy. There are multiple rebates and tax credits available that can apply towards a new roof. We also highly recommend checking out Database of State Incentives for Renewable Energy. Their website can be accessed here. DSIRE has multiple incentives for making energy improvements to any home and also helps in financing. This can help in eliminating or short-listing the search for roofing companies that finance.

Credit Cards

Credit Cards

No interest credit cards are also a good way for your roof financing. Homeowners do need to have good credit to qualify for that however. An excellent tip from our experts here at American Standard Roofing is that homeowners should avoid charging anything else to this card. This will make the card roof specific eliminating need for further search of roofing companies that finance. Homeowners should break up the cost into twelve monthly payments. It is a great option for homeowners if they are organized and careful.

Home Equity Line of Credit

HELOC

Homeowners have another option as well. A line of credit that uses an owner’s home as a collateral. It is called Home Equity Line of Credit. The information brochure for HELOC can be accessed over here. This type of line of credit is generally only used for large expenses. They can include medical bills and necessary home improvements. A good idea is to draw on this line of credit. Then finance a new roof with this credit, and pay it all off over time eliminating further need for search of roofing companies that finance.

Savings

savings

The best option for getting your roof done, among all these roofing companies that finance, is drawing from your savings. Start putting away a fixed amount that you can spare, into your savings account. This is very important if you know that you will need a new roof in a few years. Even if homeowners are able to pay a quarter of the new roof’s price, it will make a world of difference on their wallets.

Final Thoughts

So there you have it. Having a new roof is not hard. It simply requires proper knowledge of roofing companies that finance. It also depends on available resources at hand. In addition it also requires considerable patience from the homeowners. For above mentioned or other ways of getting a loan, feel free to call us. We have been in the roofing business for over 36 years. We also know of multiple independent financing and loaning institutions as well that can help. Give us a call for any of your roofing needs. We’ll be happy to help.