Repair Or Replace A Roof With A 203K Streamline Mortgage!

Repair Or Replace A Roof With A 203K Streamline Mortgage!

A home buyer can finance a house and many repairs, renovations or improvements right into the monthly payments, amortizing the work over the life of that home mortgage loan. The great thing is that with interest rates where they are right now, it will only add about $6 a month for every $1,000 in repairs or renovations you finance. That means a $10,000 roof will only add about $60 a month to the house payment. Then, when you decide to sell, that cost stays with the house.

Roof replacement or repair is covered by the FHA 203k  Streamline.

Today, there are many kinds of roofing materials that can be used to boost a home’s visual appeal. In addition to some of the traditional roofing materials, synthetic roofing materials are also fast becoming popular to homeowners. A roofing contractor should be knowledgeable in all of these materials and be able to provide a homeowner with valuable information about any of the following types of roofing materials.

  • Asphalt Shingles – Asphalt shingles are one of the most popular types of roofing materials. They gained popularity because they are very cost-effective and have warranties that last up to 30 years. Aside from their durability, asphalt shingles have a high insulation capacity and have a classic look sought after by many homeowners. The only downside of asphalt shingles is that the material becomes brittle as it ages and asphalt tends to become more and more expensive.
  • Wood Shakes – Another roofing material that is guaranteed to give a home an exquisite look are wood shakes. Like the name implies, wood shakes are made from organic material, typically cedar or pine. Most homeowners who prefer wood shakes are often after the rustic aesthetic feature of the material. Although wood shakes are organic, a well-maintained wood shake roof can last from 30 to 50 years.
  • Slate – Slate roofing is another highly decorative and classic-looking roofing material. Slate roofing is made from foliated rock. Slate is available in many different colors depending on the rock’s composition. Homeowners can combine several colors to achieve a unique color scheme. The only downside of using slate is that it can be very heavy on the roofing structure. For a person who does roofing maintenance, slate roofing is very slippery to cross. Slate is also one of the most expensive roofing materials to install. The cost does eventually pay itself off as slate roofs have a typical lifespan of 80 to100 years.
  • Faux Slate – If authentic slate is too pricey, homeowners can still achieve the same look for half the price of real slate with faux or composition slate. Composition slate is made from synthetic recycled materials. Although faux slate is relatively new, it is beginning to gain acceptance simply because of its aesthetic benefits that are comparable to authentic slate. Longevity wise, faux slate only has a maximum life span of 20 years. Because it is made of synthetic materials, faux slate will eventually fade and the material will turn brittle from repeated exposure to UV rays.
  • Metal – For homeowners who are looking for reliability and durability at the lowest possible cost, metal roofing should be at the top of their list. Metal roofing is still a rarity in many developed countries; however, it is starting to gain popularity particularly in places that experience strong wind speeds due to the durability of this material. Aesthetically, metal roofs are quite competitive. Most metal roof panels are molded and painted to look like traditional roofing materials. Although when looked at closely, it is still a far cry from authentic, its low cost and longevity of 60 to 80 years makes it one of the best roofing materials on the market.

Each of these roofing materials is guaranteed to give a home that certain look, whether the homeowner desires a classic or modern roof design. A homeowner can revive curb appeal with a new roof while also improving the home’s thermal efficiency. A homeowner should consult an Indiana roofing specialist to ensure they have plenty of knowledge about installing the type of roofing material that is being considered for their new roof. Indeed, a new roof can certainly revive the curb appeal of almost any home!

Remember, as is the case with all 203K streamline improvements; they must be completed by an insured contractor.

Click here to sign up for our FREE online class: “Buy & Remodel All in One Loan”.

Buy & Remodel All in One Loan


DISCLAIMER: Neither Indiana 203K Mortgages ( nor Luminate Home Loans is affiliated with any government agencies, including the FHA.