Let’s face it: a new roof is a tremendous investment. With a complete replacement often carrying a price tag in excess of $10,000 or more, the cost is one that few people can afford when they find out they need it. Roof replacements never seem to come at an optimal time, and that often scares and stresses out a number of homeowners who begin to panic when they realize they’re going to have to suddenly deal with a tremendous expense that they have no idea how they’re going to pay for.
If this sounds like a situation you’re in, rest assured that you don’t have to face this challenge alone. There are options that can help you get the new roof you need while sticking within your budget and not forcing you into bankruptcy.
Believe it or not, you may be able to take advantage of public financial assistance with getting your roof repaired! Here are just a few of the grants or loans that are available which you may qualify for. Talk to a Phoenix roofer to find out more about whether you qualify for this kind of financial assistance before making the decision of trying to pursue these sorts of aid.
- Weatherization Assistance Program: Low-income families, including those with disabilities, children, or senior citizens may be able to receive a grant from the Department of Energy in order to help you reduce your heating or cooling costs.
- Single Family Housing Repair Loans & Grants: Also known as the Section 504 Home Repair Program, this type of aid is provided by the Department of Agriculture and is reserved for very-low-income families who earn less than 50 percent of the median income and low-income senior citizens who are 62 years of age or older. These loans are intended to repair and improve homes that are considered safety hazards in low-income communities.
- Tribal Energy Program: Arizona has a rich Native American history, and the Tribal Energy Program can provide loans or grants for tribe members who live on tribal lands.
- Housing Preservation Grant: Very-low-income individuals and organizations (such as non-profits) can take advantage of this program offered through your local rural development office.
- FHA Loans: The FHA 203(k) and Limited 203(k) loan programs allow you to buy or refinance your property with additional funds added to the loan in order to pay for repairs or upgrades needed. If you’ve found your perfect, affordable home but don’t think you can afford to purchase it due to it needing a new roof, this program can grant you an additional value in the loan in order to pay for the repairs needed to make it livable again.
We can’t guarantee that you’ll qualify for any of these particular programs, but if you’re struggling to make ends meet and you need a roof replacement, it’s worth looking into these options.
Homeowners Insurance Claims
If something catastrophic has caused damage to your roof, such as severe storm damage, fire, or major impact like a tree branch falling into it, your roof may be eligible for repair through a homeowner’s insurance claim. Your homeowners insurance doesn’t necessarily cover typical wear and tear caused by aging, but it does protect you against the unexpected or sudden damage from a natural disaster. If you’re wondering how you’re going to have your roof damage paid for, take a look at your policy and consider filing a claim with your insurance.
It’s worth noting that the quicker you can file your claim, the more likely it is that your claim will be accepted and paid out quickly. Waiting too long often makes companies suspicious that the damage had a different cause and they’ll try to fight back against your claim, sometimes outright rejecting it. Don’t hesitate to take lots of pictures, make a long, detailed list of all your losses due to the damage you’ve suffered, and call your homeowners insurance to file your claim as soon as possible after an incident!
Some roofers will offer flexible payment options, allowing you to make payments on your roof replacement with a small interest rate until you’ve paid off the cost of your roof. While this will make the project more expensive in total, this extra cost is worth it to many homeowners who can’t afford to pay the entire cost of a roof replacement up front.
Ask your roofer if they offer financing, and be sure to read up on their terms before signing anything.
If you need your roof replaced, call Lyons Roofing today at (520) 447-2522 to request an estimate and start getting help from a professional team that can ensure your home remains protected!