Hiring a roofing contractor can be expensive, especially when it’s time to replace your roof. With office overhead costs, insurance costs, permits, regulations, not to mention materials and equipment, roof contractors have their work cut out for them when offering pricing that is both affordable and profitable.
For many homeowners, these costs mean paying out of pocket for roof repairs, not to mention a new roof, is simply not an option.
Putting off a roof repair or new roof may seem to make economical sense, but in reality, it’s anything but! You may save a few hundred in the short term, but as the problem worsens, so do the costs. Next thing you know, what was once a little $200 repair blows up to $1000, $3000 or even more! Not to mention the safety problems that come with a failing roof.
The good news is, even if you are strapped for the cash you need for a new roof or money for repairs, you have options!
Apply for a loan
You may knock this suggestion, especially if you have questionable credit or have already been rejected by your bank, but there are nonprofits designed to help low-income and middle-class homeowners get the home repairs they need.
These loans mainly cover crucial infrastructure repairs, such as your roof or ventilation but not improvements or new appliances as they are for needed repairs and not general loans.
NeighborWorks (www.nw.org) is one such organization that can help you find the loan you need via it’s network of housing organizations around the country including Georgia. If you think you may qualify, check them out or use the internet to find others!
Financing
If you don’t want to go through the hassle of obtaining an outside loan yourself, Atlanta Roofing Specialists offers a financing option that’s great for qualified homeowners with approved credit.
Other roof contractors may have similar options available, it never hurts to ask!
Refinancing
Specifically with the Federal Housing Administration 203k refinance loan. This program allows homeowners to consolidate their existing mortgage and the costs of a renovation or repair project. As long as you are using it for needed repairs and not a new pool or deck you have a decent shot at qualifying. Your local mortgage lender can help you with more information and to apply.
Grants or Contests
You even have the chance to get the things you need done for free! Entering contests such as our recent No Roof Left Behind program, can get you the roof you need for no cost! Granted these don’t happen often but when they do, sign up!
There are even grants such as the Very Low-Income Housing Repair Program offered by the USDA which provides loans and grants to repair, improve and even modernize homes!
The Rural Housing Repair and Rehabilitation Grant is available to Seniors (62+) and can be used for repairs to make your home safer, healthier or even to make accessible to those with disabilities!
There are more out there, go online and search around! If you don’t think you can afford to fix or replace your roof today, think again, the solution is out there you just need to grab it!
Just be sure to do your homework and don’t rush through anything.
For more information or to schedule your free estimate call Atlanta Roofing Specialists in Metro Atlanta at 770-419-2222.