Get Money Now -- 5 Reasons to Consider Roof Financing

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Get Money Now -- 5 Great Reasons to Consider Roof Financing

Get Money Now — 5 Great Reasons to Consider Roof Financing


A new roof is a big expense that’s difficult to fit into most household budgets. If you’ve been advised that your roof needs replacement and you’re debating different ways to cover the cost, roof financing is an option that’s well worth considering. While paying interest on a roofing loan can seem like a steep expense, there are a number of advantages to borrowing that can help you offset the cost over time.

Reasons Why Roof Financing Benefits Birmingham Homeowners

One of the immediate advantages of borrowing is that you can spread the cost of a new roof over a repayment period that meshes well with your household budget, so the monthly payments don’t stretch your finances to the breaking point. Some additional reasons why roof financing makes good sense include:

  • Low interest rates. Interest rates are starting to creep upward, but they’re still near historic lows, so borrowing now can allow you to minimize the cost of a home improvement loan to replace your roof. Keep in mind that the actual interest rate a lender gives you depends on factors like your yearly income and credit history.
  • Preserved savings. If you’re debating whether to use your savings to pay for a new roof, opting to borrow instead can allow you to keep those funds intact. The interest you’ll continue to earn can help offset the loan interest you’ll pay, plus you’ll avoid potential fees like early withdrawal penalties.
  • Possible tax deductions. You may be able to use the interest portion of your loan payments as a deduction for tax purposes. This can either lower the amount of Federal income tax you owe or increase your yearly refund over the term of the loan. Just be sure to talk to a tax professional about whether you can use this deduction.
  • No repair costs. Choosing to repair your roof instead of replace it may seem like a viable alternative to paying interest charges. Actually, financing a new roof can allow you to avoid that repair bill entirely and also save you the cost and inconvenience of future repairs as well.
  • Lower energy bills. Taking out a loan to upgrade to a more efficient new roof can help you reduce your energy consumption and save on heating and cooling costs over the long term.


To learn more about the advantages of roof financing for your Birmingham home, contact us today at Yellowhammer Roofing.

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