How to Finance Your Roofing Project
At TraVek Roofing, we understand that a new shingle, foam, or shingle roof can be a significant investment. That’s why we offer flexible financing options to help make your roofing project more affordable.
As a leading roofing company in the Phoenix and Scottsdale area, we’re committed to providing you with the best solutions to fit your budget. Whether you’re looking for a new roof payment plan or need financing for a roof replacement, we’ve got you covered.
Our partnership with trusted roof financing lenders ensures competitive roof financing interest rates, making it easier for you to finance your new roof to protect your home.
What Type of Loan is Best For a New Roof?
Picking the right loan for your new tile or shingle roof is all about what works best for you. It depends on your finances, credit score, and the size of your roofing project.
Some loans offer lower interest rates, while others have flexible payment plans. It’s all about finding the perfect fit for your budget and needs. Up next, we’ll dive into the different financing options available to help you make the best choice for your home.
Types of Financing Available for Roofs
Traditional Installment Loan
However, a traditional installment loan may require a strong credit score to secure favorable terms. The application process can be lengthy, involving credit checks and documentation. Additionally, if you miss payments, it could negatively impact your credit score, making future borrowing more difficult.
Credit and loans provided by Regions Bank d/b/a EnerBank USA, Member FDIC, (650 S Main St, Suite 1000, Salt Lake City, UT 84101) on approved credit, for a limited time. 8.99% to 15.99% fixed APR, subject to change. Minimum loan amounts apply. Interest starts accruing when funds are disbursed. Open line period payments due 90 days after origination and monthly thereafter during open line period. When open line period ends, the balance becomes a fixed rate installment loan; repayment terms vary from 12 to 144 months. Actual loan term may be shorter if less than the full approved amount of credit is used. First monthly loan payment due 30 days from the end of the open line period.
6.99% APR 5-Year Loan
On the downside, the 5-year repayment term means you'll be making payments for a longer period, which might not suit everyone. If your credit score is less than stellar, you may not qualify for the 6.99% rate, potentially leading to higher costs. Additionally, early repayment might come with penalties, limiting your financial flexibility.
Credit and loans provided by Regions Bank d/b/a EnerBank USA, Member FDIC, (650 S Main St, Suite 1000, Salt Lake City, UT 84101) on approved credit, for a limited time. 6.99% fixed APR, subject to change. Minimum loan amounts apply. Interest starts accruing when funds are disbursed. Open line period payments due 90 days after origination and monthly thereafter during open line period. When open line period ends, the balance becomes a fixed rate installment loan; repayment term is 60 months. Actual loan term may be shorter if less than the full approved amount of credit is used. First monthly loan payment due 30 days from the end of the open line period.
12-Month Same-As-Cash Loan
However, if you don’t pay off the full balance within the 12-month period, interest can be retroactively applied, often at a higher rate. This can result in unexpected costs if you’re unable to pay it off in time. Additionally, the pressure to repay within the short window may not be ideal for everyone, especially if cash flow is a concern.
Credit and loans provided by Regions Bank d/b/a EnerBank USA, Member FDIC, (650 S Main St, Suite 1000, Salt Lake City, UT 84101) on approved credit, for a limited time. 8.99% to 15.99% fixed APR, subject to change. Minimum loan amounts apply. Interest starts accruing when funds are disbursed. Open line period payments due 90 days after origination and monthly thereafter during open line period. When open line period ends, the balance becomes a fixed rate installment loan; repayment terms vary from 12 to 144 months. Actual loan term may be shorter if less than the full approved amount of credit is used. First monthly loan payment due 30 days from the end of the open line period.
Invest in Your Future with TraVek Roofing
Choosing the right financing option for your new roof is an important step in protecting your home and ensuring long-term peace of mind.
At TraVek Roofing, we’re committed to helping you find the best solution that fits your budget and needs. With a range of flexible financing plans, we make it easier to invest in your home’s future.
Don’t let financial concerns delay your foam, shingle, or tile roofing project—partner with TraVek Roofing and secure a strong, durable roof that will protect your home for years to come.