Elite Siding and Roofing Boston

Navigating Local Financing Options: Top 5 Local Financing Solutions for Your Siding and Roofing Project 

Let’s face it, money is always a factor. It doesn’t matter if you need a few shingles replaced or a full siding replacement; you want to know what it will cost and how you will pay for it. It can be stressful, especially when you consider that the job needs to be done correctly, otherwise you may end up paying more down the line. Home projects can be expensive, so how do you balance the need for financial stability and planned or unplanned home repair projects? Elite Siding & Roofing is here to help.

Check Your Homeowners Insurance Policy

Most of us like to plan things out months ahead when it comes to home renovations. If your environment becomes unpredictable, thinking ahead may no longer be an option. Thankfully, having a strategy in place is. Insurance companies typically cover a portion of the cost of home repair and replacement for unexpected damage such as a tornado or fire. While the assessment and approval process does take time, this can help relieve some of your financial burdens as a homeowner. Most insurance companies do not offer coverage for the regular wear and tear that any home will experience over the years. But it remains a valuable tool in managing your emergency home repairs.

Work With Your Local Contractor

Many local contractors offer in-house financing solutions to help their customers navigate the cost of repair and replacement, including Elite Siding & Roofing. If you choose to shop around, look for a balance between pricing, quality, and customer service to see what best suits your needs. Pay attention to what services are included in the overall project, and don’t be afraid to ask questions. If you can, book a free estimate from more than one company to better compare the specific work you need to do. Check out our Financing page to learn more about what Elite can do to help.


We know it’s a scary word, but loans can offer you financing opportunities that might otherwise be out of reach for your home repair or renovation project. Two types of loans are available depending on your needs: personal home improvement loans & home equity loans.

Personal Home Improvement Loans: This loan allows you to acquire reasonably quick funding without collateral. The amount is based on your credit score and is usually received in one lump sum, allowing the homeowner more agency in its use. On the other hand, this loan comes with an interest rate relative to the borrower’s credit score, and repayment is expected promptly, usually within the next 3-5 years.

Home Equity Loans: This type of loan depends upon the equity you have built up in your home thus far and typically comes with relatively low interest rates. Home equity loans usually have a generous grace period when it comes to payback, but there can be steep penalties for late payments and your home is your collateral.

FHA Title 1 Home and Property Improvement Loan

A Title 1 loan can be used to finance alterations, repairs, and improvements to help ensure the basic livability of a property. This is a government loan from the Federal Housing Authority, meaning that there are strict regulations regarding every aspect of the loan, from the amount to what it can be used for and how quickly it must be paid back. The application and acceptance process can be rigorous, so it is not suggested for emergency repairs. However, it is nonetheless a viable option for homeowners who are struggling to get their property back on its feet.

Cash or Charge

Let’s be realistic. The people who can afford to pay for a home renovation or repair job in cash are few and far between. In this economy, many of us live paycheck to paycheck, and the last thing you want to do is clean out your savings because of an emergency. Nonetheless, paying the entirety of the repair costs upfront can remove a considerable amount of stress from your shoulders. In this case, be sure you work with a reputable roofing company, which means licensed, bonded, and certified.

Acquiring a credit card can also be a quick solution to help cover home repair and replacement costs. Many cards offer a limited low or no interest for the first year or so after signing up, which can help take some of the pressure off paying it back. Before you sign up, make sure you know what the interest rate will be once that grace period ends. Pay attention to the rewards and incentives like cash-back bonuses, and be strict about making your payments on time.

Whether your project comes from want or need, take your time and consider what financing options will be to your benefit. Be realistic and do the research before making any final decisions. Have a solid plan to pay back what you borrow, and don’t ignore underutilized options that can help ease the burden of cost. Most importantly, be sure you are getting what you pay for by working with dependable contractors who will make the expenditure worth the effort.

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