Is it finally time to update the outside of your home? Replacing or adding gutters and siding may not be the flashiest remodel, but it is still costly. If you want to hire the best gutter and siding contractor but your bank account is lacking that extra cash, it’s time to research options besides paying out of pocket. Whether or not your contractor provides financing, you should still shop around to find the best option for you.
Home Refinancing for Gutter and Siding Loans
When it comes to financing options for gutters and siding, there are a few options that you might want to avoid. Home equity loans, cash-out refinancing, and government-backed loans are similar in a few ways: they involve getting a new loan to pay off your mortgage, with additional money to put toward home renovations.
Why You Should Look Elsewhere for Gutter and Siding Financing
The options listed above are also similar when you look at their downsides. When you do any kind of home refinancing to get a loan, it’s a long, complicated process. It usually involves a lengthy application, scheduling a home appraisal, waiting for approval, and a “closing” meeting like when you bought your house (think about those closing costs!).
If you think about it, refinancing is like starting over on your mortgage. For example, if you’ve already been paying on your house for five years, starting over with a 15- or 30-year mortgage would feel like a major setback.
Another negative to these options is that most banks do stage funding. This means that they will divide the loan into phases, and only fund a portion of the money at a time. This could cause a delay in your construction schedule if your contractor has to wait on the next stage of funding to come in.
Gutter and Siding Personal Loans
If you want to avoid the headaches caused by home refinancing loans, it’s time to look into personal loans for your new gutters or siding. Personal loans are different from those listed above because you won’t be putting your home on the line. You won’t have to start over on your mortgage, either. You won’t need to wait on a house appraisal. The whole process is faster and much less complicated.
Why HFS Financial is the Best Choice for Gutter and Siding Loans
Now that you have decided to go with a personal home improvement loan, you might be wondering about the best place to look for one. At HFS Financial, we specialize in helping homeowners find the perfect loan for their needs. With over five decades of experience, we have streamlined the process. In fact, our application only takes one minute to complete!
Unlike home refinancing banks, we don’t do stage funding. So, your contractor will be pleased to find out that your project will be funded upfront.
We Partner with Contractors to Provide Contractor Financing
Speaking of contractors, many gutter and siding companies have already partnered with HFS Financial to provide contractor financing. But, if your contractor of choice hasn’t found us yet, you can still go through HFS on your own. After the contractor experiences the ease of our process, they will want to use HFS Financial for all future clients.
Do you still have questions? Send us a message or call our loan experts at 1-800-254-9560. And remember, at HFS Financial, “You Dream It, We Finance It!”