Cash is the best option if you are able to afford it.
Its not a bad idea to save and pay for a New Roof out-of-pocket. In fact, it is recommended paying with "cash" (by "Cash" they mean no loans) to avoid interest and payments.
This is great advise if you can do it - unfortunately most Homeowners don't have that kind of savings. Drawings from you personal piggy bank just isn't an option for many people, especially when it comes to more expensive home improvements.
Property Assessed Clean Energy (PACE) is a way for qualified Homeowners in subscribed communities to finance a variety of Home Improvements, including new roof Financing. Some benefits of the PACE program include:
*Not Based on Credit Score
*Program pays Contractor
*Terms up to 30 years
*Fixed interest Rates
Note that there are several providers offered under this program. YGrene Works and Renew Financial both provide 100% Financing for your new roof in approved Municipalities in South Florida with no upfront costs.
See your personalized monthly payment options within minutes and without affecting your credit score. No prepayment penalties. No home equity required.
Hearth makes it easy for you to find monthly payment options for your project, with:
Find convenient monthly payment options for your project. See your personalized payment plans without affecting your credit score now.