NJ Roof Financing

Financing FAQs

• Why should I consider financing my roofing or siding project?
  New roofing or siding can be a significant expense that may come suddenly, leaving homeowners with little or no time to plan ahead. Flexable payment options are so easy today, there is almost no reason to use your own money in the bank.
• Could I just wait on roofing repairs until I have saved enough to pay for it?
  This is always an option, but waiting may not be feasible if there is damage that could lead to more extensive problems later. The cost of labor and mateirals are only going to rise over time, waiting will never save you money when it comes to roofing and siding. An Alte Exteriors professional can give you an honest assessment of the urgency involved with your home repair project. There may be some repairs that can be done to delay the ultimate total roof or siding replacement. You can count on Alte for an accurate and truthful evaluation of what needs to be done and when.
• Can you help me understand what my insurance will pay and what part I am responsible for?
  Working with your insurance company can seem overwhelming, but Alte Exteriors can help explain some of the details pertaining to your coverage. There are considerations such as deductibles and funds “held back”. The terms will vary depending on your insurance carrier, your coverage, and any specific terms of your plan. Before you undertake any financing to cover the cost of repair or replacement, we’ll be sure you have a clear understanding of your out-of-pocket costs so you can make educated financing decisions going forward.
• Why do insurance companies withhold some of the money until work is completed?
  This is a very common practice and there are really two reasons. The first is that they want to make sure the work is actually done and repairs are made. The second reason is to ensure homeowners pay the full deductible. While most policies cover full replacement value, they will only advance the amount equal to the Actual Value (AV) or what your roof is worth today considering its useful remaining life. Once repairs are completed, they’ll likely come out and inspect to verify the work, then issue a second check for Replacement Value (RV) once they can validate the work was completed with a licensed contractor and was done satisfactorily.
• Do I have to pay the insurance deductible?
  Legally, homeowners are obligated to cover the full cost of their deducible. If you find a roofing or siding contractor who offers to bypass this requirement, you are contributing to insurance fraud. For this reason, Alte Exteriors will never offer to take care of your deductible and it’s one of the reasons why we offer finance plans to help make paying for the repair or replacement easier.
• Do I have to finance the full amount of the estimated roofing project?
  Of course not, you can always seek financing for only the portion you need to cover the cost of the project. Once you have an accurate estimate in hand, we encourage you to evaluate your existing financial situation and borrow only what you need to cover the costs at hand.
• Do I have to use Alte Exteriors recommended finance company?
  You are encouraged to investigate all available finance options to get the best interest rate and terms to pay for your roofing project. This may be your own bank, credit union, or other financial institution. Service Finance Company, LLC is a fully accredited loan servicing provider used by Alte Exteriors and other home improvement companies to make projects accessible and affordable for its customers. Our primary goal is to provide you with a turn key experiance that is stress free, easy to understand and clear.
• How does the finance company determine the interest rate and amount of total payment I’ll have to make?
  No matter which finance company you select, the rate you pay and the ultimate amount of your payment will depend on factors such as the total amount borrowed, the loan term, and your creditworthiness. These factors are assessed by third-party finance professionals using secure SSL technology. Alte Exteriors has no impact on or visibility into the terms you receive.
• How and when do I make my payments?
  Once approved, and if you use Alte Exterior’s financing provider, you’ll receive monthly statements sent approximately 15 days before each payment is due. Payments are not due until after installation work is completed. You can expect your first statement within 18 days of project completion. Payments may be made by check, ACH, money order, or cashier’s check and are made directly to Service Finance Company, LLC. Of course, if you use another financing company, you’ll be responsible for payment under their specific terms and conditions.

If you don’t see the answer to your roofing or siding finance questions, please contact us to speak with one of our experts. We’ve helped thousands of homeowners just like you solve the problem of affording repair or replacement services for their homes, and we can help you, too.

Wondering what roofing or siding repairs are necessary for your home and needing to plan for the cost of repair or replacement? Fill out the form below!