Even minimal damage to a roof can become costly. Once water is getting in, you run the risk of mold growing on the insulation between your roof and the ceiling. Whether your shingles need replacing or you have a leak around a vent pipe or chimney, you cannot delay the needed repairs. Roof repairs can also be extremely costly. In one New England state, the 2013 estimates received for a roof to be reshingled ranged from $5,000 to $8,000. It’s unlikely this is work you can do yourself, especially if there are city or state codes that must be followed. A fast cash loan ensures you have the money you need to quickly get your roof fixed.
Paperwork Needed for Cash Loans
One of the benefits to a cash loan is that little paperwork is needed. Fill out the loan application online in a matter of minutes and have your answer just as quickly. Most online cash loan applications require your SSN, contact information, income information, and date of birth. Once approved, you have the cash in hand as quickly as one business day later.
Compare this to a bank’s home equity loan. A home equity loan often has multiple forms to fill. You must provide not only the aforementioned information but also copies of tax returns, bank accounts and balances, credit card accounts and balances, etc. Once this paperwork is complete, the bank needs time to run a credit report, possibly do an appraisal of your home, and then underwriting must run the numbers and decide if you even meet the bank’s requirements. This process can take up to a month before you even know if you are approved. After that, a closing date must be scheduled, and you won’t have the cash in hand until that day. When you have a leaking roof, you don’t have time to waste.
Put Competition to Work for You
Today’s cash loan market is extremely competitive. So many lenders want your business, so they compete by offering the lowest interest rates and fastest turnaround times. An installment loan can be an excellent answer to your solution by letting you borrow up $5,000, $8,000, or even $10,000 and pay it back each month. You’ll have the money you need for a monthly payment that doesn’t strain your budget.
