What Options Are There for Financing a Roof?

financing a roof

Do you need a roof repair or replacement but are worried about the cost? Your roof is one of the most important parts of your home, and this means repairing or replacing it when needed is a priority. Roof Advisor recommends replacing asphalt shingle roofs every 15 to 30 years. However, the cost of a roof repair or full replacement is an expense many homeowners are not always prepared for.

What Does a New Roof Cost?

The average price to install a new roof ranges from $5,000 up to $11,000. This is a significant cost for most homeowners, especially when it is unexpected. The good news is that there are financing options for roof installation to allow you to replace or repair your roof when needed and prevent further damage to your home. Here are some of the options for financing a roof.


All homeowners will have some type of homeowners insurance. This insurance protects you and your home from damage, including fire, theft, and some natural disasters. The option to go through insurance is typically only for when your roof is damaged from some type of storm, and not from wear and tear. To get more information on this, reach out to your homeowners insurance provider to receive a quote on how much of the cost they can cover.

Personal Loans

You can get a personal loan as a home improvement loan to receive better rates. With a home improvement loan, a lender will offer you a lump sum upfront. This amount, and the interest rate charged over the life of the loan, will depend on your credit score. Make sure to look around for different options to ensure you get the best loan for yourself.

Financing Through the Roofing Company

In many cases, roofing professionals know the cost to repair or replace a roof is high for many homeowners, but that the repair is necessary. That is why the roofing company you hire may offer their own options for financing a roof. The roofing company will likely charge interest, but this is still a good option for those with little home equity or less than ideal credit. Remember to read the fine print and ask questions about the terms.

The cost of a roofing project may seem daunting at first. However, there are several options to help make the roofing project far more affordable. Talk to your roofer about your options for financing a roof and decide on the best one for you. Contact us today with any questions.