Office: 269-244-4379

Serving Southwest Michigan

Understanding the Ins and Outs of Financing

Are you in the beginning phases of planning a large home project? Specifically a roofing project? Are you tying to figure out how to budget for such a large expense? In previous blogs we have discussed, planning for a roofing project, determining whether you have an extended or immediate time line for planning or need requirements. We also discussed selecting a contractor and referenced “Sales” driven companys that focus on offering financing and have high pressure sales. Financing a large project is a huge factor in your considerations. We understand not everyone has access to large amounts of capital in a reserve for these types of things. We also understand why company’s that offer financing may be more desirable and or “affordable” seemingly, for the sake of having a budget that can be managed over time. Some people have offers through Credit Card company’s that they want to take advantage of for temporary low interest options, some people have available equity to leverage out of their property, some people struggle with credit and available income to manage standard private or personal financing. We get it! We have all faced struggles with lifes circumstances and what may or may not be available to clients when they find themselves in a position to have to figure out the resources available for a large transaction. We don’t have a viable solution for everyone, but we do want to be as helpful as we can, we want to be transparent about the best options, and we want to assist with those options as much as possible.

Thompson Home Improvement has had a client base for the majority of our years in business that has not required specific financing options. We realize the world and business is forever changing, as is the client base and the tools accessible to manage finances and budgets. We offer a 3% discounted rate for check and or cash payment of quoted job totals. We also will accept CC payment for full quoted price with no discount, if Check or CC payment is not an option, we do have financing options available with two different financing firms but they do come with their associated costs which can add in many cases, additional fees and rates. We prefer that clients not absorb any additional costs if it can be avoided, we have found that if clients have the ability to apply with their personal bank or another local bank directly for private financing, better rates and conditions are available.

With societal habits leaning more toward financing everything, from their phones, to their appliances to their vehicles; why would a roofing project be any different? Where we aren’t here to act as a financial advisor, it is our goal to be transparent about specific financing options. As other companies that offer financing may not be as transparent about additional, hidden or built in expenses associated with outsourced finance options. We have used both Greensky financing and Hearth financing as past financing options. If you would like to investigate either of these options prior to contacting us to see if they might be a good fit for you and you find you have interest in using one of these sources we would be happy to assist with the process. If you are interested in financing your project, please be sure to share that information with us when you schedule your appointment.