Roof Financing Options in Minot, ND

Paying for a roof in Minot

Ways people pay for a roof here

• Insurance claim. If the roof was storm damaged, your out of pocket is your deductible, not the total. Always check this before financing anything.
• Contractor financing. Fixed monthly payment, quick approval, and the interest rate is often higher than a home equity product. Read the promotional period terms.
• Home equity loan or HELOC. Usually the cheapest money if you have equity and time, because the roof is secured against the house.
• Cash. Ask whether there is a discount. On our jobs there usually is, because card and financing fees are real.

Questions to ask before signing any financing offer

• What is the APR, not the monthly payment?
• Is there a deferred interest promotional period, and what happens if it is not paid off in time?
• Is there a prepayment penalty?
• Is the contractor being paid a fee by the lender, and does that fee sit inside my price?
• Does this place a lien on my house?

That fourth question is the one that matters most and the one nobody asks. A zero percent offer is rarely free; the cost is usually inside the job price.