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Loan for New Roof – Aberdeen, NC

Homebuying 3 min read

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North Carolina experiences all kinds of weather throughout the year. What you may not know is that a lot of extreme North Carolina weather happens in and around the 6.2 square miles that make up the city of Aberdeen.

Aberdeen has gone through floods, ice storms, and droughts, with the risk of tornado damage in Aberdeen being much higher than the overall North Carolina average. Extreme weather can affect a lot of things, like your landscaping and home. If extreme weather in Aberdeen has affected your roof, come to First Bank and ask about securing a loan for a new one.

When Should I Take Out A Loan To Replace My Roof?

If you’re not sure if you need a loan for a new roof or just a few repairs, look for these seven signs:

  1. Roof age — A typical roof will last between 20 and 25 years. Depending on whether the old roof was removed and if it is properly ventilated, you will only have one layer of shingles.
  2. Curling and buckling of shingles — If your shingles are curling and losing granules, it could mean they are old and need to be replaced.
  3. Valleys — If your shingles are falling apart or missing in the valleys of your roof, it is probably time for a new one. Snow and rain flow through valleys and into gutters, and if the valley is damaged you could be susceptible to leaks.
  4. Missing shingles — Missing shingles could be a sign that your roof is falling. Check to see if all of the “tabs” are intact.
  5. Chimney flashing — If your flashing is made out of roof cement or tar, it may need to be replaced with a water-tight metal flashing system.
  6. Shingle granules in the gutters — Pay attention to the debris in your gutters. If your gutters are filled with shingle granules, it could be time to replace your roof. Roofs tend to lose more granules when they reach their life-expectancy.
  7. Daylight through the roof boards — Check to see if you see any daylight coming through the roof boards in your attic, or if there is moisture in the insulation.

Visit First Bank Today

If you’re noticing any roof problems, it’s probably time to head to First Bank. Visit our Aberdeen branch located at 105 South Sandhills Boulevard and speak with a loan expert about getting a loan for your new roof today.

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Loans subject to credit approval.

Sources:

usa.com: http://www.usa.com/aberdeen-nc-natural-disasters-extremes.htm

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Current 30 Year Mortgage Rates – South Carolina If you’re looking for current mortgage rates in SC, it’s a great time to buy! In a recent survey conducted by GoBankingRates, the state ranked 27th in the nation for the lowest average home mortgage. The study combined 30-year fixed, 15-year fixed, and five-year ARMs (adjustable rate mortgages) to rank each state by the average cost of a mortgage. Current Mortgage Rates in SC First Bank offers conventional home loans, including a 30-year fixed-rate mortgage. This types of mortgages are extremely popular among home buyers because the longer loan term allows for smaller, predictable payments. With First Bank’s 30-year conventional loan, your interest rate and monthly principal will never change, allowing you to budget more easily. If you plan to live in your house for a long time, a 30-year fixed-rate loan could be a good option for you and your family. What Affects Current Mortgage Rates in SC? 30-year mortgage interest rates vary depending on a variety of things, such as: Economic factors. Lending is riskier in some states than others due to unemployment rates, default and foreclosure rates and differing property values. State laws. States that allow recourse typically have lower mortgage rates. Recourse is the recovery of additional money from borrowers who default and the foreclosure sale doesn’t earn enough to pay off the mortgage. Size of competition. More lenders competing for your business means lower costs. Types of preferred loans. States with more military bases will likely see more VA loans, states with more rural housing might have more USDA loans, etc. Market conditions. An increase or decrease in home building and sales regionally or nationally can drive interest rates up or down. Government. Government policies like the Federal Reserve can dictate the fluctuation of interest rates. As you can see, there are a number of reasons why a 30-year mortgage rate in South Carolina can vary. The best way to find out what your interest rate will be is by speaking with a First Bank mortgage specialist. If you are ready to apply for a 30-year mortgage, you can find out your interest rate by starting an online application with First Bank. Loans subject to credit approval. ———- Source: Housing Wire: https://www.housingwire.com/articles/48165-this-is-how-mortgage-rates-vary-by-state/ 2 min read
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