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Financing Options for Siding Replacement

April 18, 2023

Financing Options For Your Siding
Replacement In Sandy, UT

How To Take The Financial Stress Out Of Your Project

Improving the curb appeal of your Sandy, UT, home can be a hefty investment, especially when you pay for lasting quality in the materials and service. Here at RGS Exteriors, we specialize in James Hardie fiber cement siding to provide our customers with exceptional durability, reliability, and stunning appearance.

If you plan on replacing James Hardie siding, you’ll need to know how you plan to finance your project. Many options are available to make the process as financially comfortable as possible. Read on for everything you need to know about funding a siding replacement.

Paying With Cash

If you can safely wait for your siding installation, saving up the funds to pay cash is an excellent way to fund your remodel. It offers you peace of mind knowing that your new siding is completely paid off with no financial obligations left hanging over your head.

However, this option takes the most discipline, as you will need to continually save over time until you have reached the total you need to install the siding. In addition, your current siding needs to be in good enough condition that waiting won’t pose a risk to your home. You should also only pay cash if it does not deplete any emergency funds.

Use A Credit Card

You can charge your James Hardie cement siding installation project if you have the funds on a credit card.

However, you’ll want to seriously consider this option before doing it. If you don’t have a way to pay off the transaction balance quickly, you’ll be hit with high-interest fees over time.

Credit cards are a feasible option if you have no choice and must act quickly to preserve your home. For example, relying on a credit card may be the best option if you have a severely deteriorated roof.

Cash-Out Refinance

A cash-out refinance is often used by homeowners who want to reinvest their equity into other investments, such as remodeling, college tuition, or debt consolidation. This new loan amount is higher than the remaining balance, and the difference is paid in a lump sum. In addition to getting cash to pay for your James Hardie siding contractor, you may benefit from a lowered mortgage rate.

Remember, interest rates are competitive, and other factors will impact them, including your credit. In addition, there must be enough equity in the home for you to qualify for this option, which will also incur closing costs.

Home Equity Loan

Also known as a second mortgage, a home equity loan could allow you to borrow up to 85% of your home’s total value – less what you owe on your first mortgage. The interest rates on these loans are generally fixed and may be competitive.

These loans often have long repayment periods and are tax deductible. The significant downside to this option is that you risk losing your home to foreclosure when you cannot pay.

Home Equity Line Of Credit (HELOC)

A HELOC is similar to a home equity loan in that you borrow against the value of your home. However, during the “draw period,” you can borrow multiple times if the account is open and in good standing.

Interest rates are generally variable but may be competitive depending on your credit.

The downside to obtaining a HELOC is there are sometimes prepayment penalties. In addition, you face the risk of losing your home due to defaulting on payments.

Personal Loan

If you can’t wait any longer to begin the hiring process for James Hardie siding installers near Sandy, UT, a personal loan is an option to consider. This loan option can quickly get cash in your pocket to afford new siding when needed.

This option is great if you don’t mind following the repayment guidelines, as many enforce early repayment penalties. In addition, you’ll want to ensure the interest rate is manageable.

Finance Through Your Contractor

When searching for James Hardie siding services in Salt Lake County, consider whether the contractor offers financing options. Here at RGS Exteriors, we have an exceptional network of financing partners that can help our qualified customers obtain the funds they need to afford premium James Hardie siding products.

We also offer comfortable repayment options that fit every budget. When you see a problem with your siding, you must not wait to have it fixed. Our goal is to make the process as stress-free and financially manageable as possible with our options.

Turn To RGS Exteriors For Premium James Hardie Siding
Options In Sandy, UT

Whether you have siding woes or want to upgrade the exterior of your Sandy, UT, home, RGS Exteriors has superior James Hardie fiber cement siding that will last for decades and look great while doing it.

We only use the best products combined with the best crews in the business to ensure you get high-quality results. After all, great products only go so far without precision installations to guarantee success.

Call RGS Exteriors today at (801) 997–6616 to schedule a free consultation.