Which GreenSky Plan is Right for You?
Are you considering financing for your roofing project but unsure whether deferred interest or fixed-rate financing is the better option? Choosing the right plan can save you money and help you manage your budget effectively. At Make It Happen Roofing, we partner with GreenSky to provide flexible financing solutions that fit your needs. In this article, we’ll compare deferred interest vs. fixed-rate financing so you can make the best decision for your home.
What Is Deferred Interest Financing?
Deferred interest financing allows homeowners to make roofing purchases with a temporary 0% interest period. However, if the full balance is not paid off before the promotional period ends, all accrued interest will be added retroactively to the balance.
Key Features:
✔ No interest charges if the balance is paid in full within the promo period.
✔ Promotional periods typically range from 6 to 24 months.
✔ Minimum monthly payments may be required, but paying only the minimum might not be enough to clear the full balance.
Pros of Deferred Interest Financing:
✅ No interest cost if paid off within the promo period.
✅ Lower initial monthly payments compared to fixed-rate loans.
✅ Short-term financing flexibility without long-term commitment.
Cons of Deferred Interest Financing:
❌ If not paid in full, all accrued interest is charged retroactively.
❌ Can become costly if the balance isn’t cleared in time.
What Is Fixed-Rate Financing?
Fixed-rate financing provides a set interest rate and predictable monthly payments throughout the loan term. This type of financing is best for homeowners looking for long-term budgeting stability without worrying about sudden interest increases.
Key Features:
✔ Consistent interest rate throughout the loan period.
✔ Loan terms range from 24 to 120 months.
✔ Fixed monthly payments ensure financial stability.
Pros of Fixed-Rate Financing:
✅ Predictable costs, making it easier to budget.
✅ No surprise interest charges like deferred interest plans.
✅ Lower overall cost for long-term financing.
Cons of Fixed-Rate Financing:
❌ Higher initial monthly payments compared to deferred interest plans.
❌ May result in higher total interest paid over time.
Deferred Interest vs. Fixed-Rate Financing: Which GreenSky Plan Is Right for You?
The best financing option depends on your financial situation and repayment ability:
💡 Choose Deferred Interest Financing If:
✔ You can confidently pay off the balance before the promo period ends.
✔ You prefer lower initial monthly payments.
✔ You need short-term financing without a long-term commitment.
💡 Choose Fixed-Rate Financing If:
✔ You want consistent monthly payments to manage your budget.
✔ You plan to spread payments over a longer period.
✔ You prefer no surprises with interest rates.
Get the Best GreenSky Financing Option With Make It Happen Roofing
At Make It Happen Roofing, we offer flexible financing through GreenSky to make your roofing project affordable. Whether you choose deferred interest or fixed-rate financing, we’ll help you find the best plan to fit your budget. As a GAF-Certified Contractor, we provide top-quality materials and expert installation to protect your home.
📞 708-416-8098 Ready to finance your roof? Contact us today for a free consultation!