There are several options available for roofs and home repairs.
OPTION 1 – INSURANCE
File a claim to determine if there is covered storm damage (wind, hail, freeze). Filing a claim doesn’t necessarily cause your premiums to go up. This is what insurance is for. We can assist you in the process.
OPTION 2 – HOME EQUITY LOAN
You can borrow up to 80% of value of your home and use the funds as you see fit. Roof replacement, gutters, siding, new windows, new air conditioner etc. are all items many people use these funds for. Plus, the interest from the loan is tax deductible. Again, we can assist you in this process.
OPTION 3 – CREDIT CARDS
This option is the least attractive option as it is expensive and requires discipline in managing the debt. The upside is that it is quick and can earn air miles or cash back. The balance could later be transferred to a limited time zero interest card to be paid off when zero interest period is up.
These are a few options and we may be able to tailor other ways to help with your project such as financing of the deductible in limited cases.
