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Can I Finance My Roof Replacement Project?

July , 2023 | 7 min. read

By Scott Wilson

filling out paperwork

Whether you've planned it or not, roof replacement is a huge investment for any homeowner! Sooner or later, you'll have to replace your roof, and unfortunately, doing so may dig deep into your pockets. Even the best asphalt shingles only last around 20 years. Even worse- sometimes unexpected issues happen like storm damage or faulty installation. If you find yourself in a predicament such as this, just know there are solutions to help! Let's delve into financing.

When a roof replacement can't be put off any longer, many homeowners consider financing the new roof with the option of installments. The cost of an average roof replacement is around $7,300-$19,000, an expense many homeowners can't afford out of pocket. If this sounds familiar, don’t worry! You’re not alone. Since 2004, RoofCrafters has has helped homeowners finance their roof replacements- and we're more than happy to walk you through the process. 

In this article, we're tackling the seemingly complicated topic of financing. When should you use it? Do you qualify for it? The price of a new roof varies from one home to another depending on several factors such as roof size, complexity, roof material, geographical area, and roofing contractor. This ultimately makes it even more difficult for some homeowners to save the right amount of money for a roof replacement. By the time you finish reading, we hope you have a little more of an idea if this is the right choice for you. Let's begin!

Considering Financing Your Upcoming Roof Project?


Many Americans use financing options for all types of expensive purchases, and a roof replacement is no different. Even though the roof is one of the most important parts of the home, we tend to forget about it (guilty as charged.) Far too often, we put off the necessary maintenance, repairs, and replacement until serious signs of damage appear. Spring a leak? Whoops.

If you've been saving for the "rainy days," that's great! However, homeowners are usually unprepared when they have an emergency roof situation. In some cases where insurance can cover some of the damage, you may still have to pay out of pocket with a hefty deductible that’s out of budget. When this occurs, it's time to consider financing your roof replacement.


The average homeowner likely has many more options for financing a roof replacement than they may realize. Government programs, home equity loans, and private financing are just a few of the options out there. Before you commit to any of them, it’s essential to do your research to make a responsible financial decision for your new roof!

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The Benefits of Financing Your Roof Replacement


Financing can sound a bit daunting if you've never done it before, but knowing the benefits can help you come to an understanding of what it means. There are many pros to financing your next roofing project, including the following:

  • roofcrafters on siteLow Monthly Payments: Allowing you to make smaller payments over time can help you avoid draining those pockets so quickly. Depending on your payment terms and credit history, you may also benefit from low-interest rates during the life of the loan.

  • Defer Upfront Payment Without Interest: You also have the option to delay a lump sum payment while still avoiding interest. These are loans with 0% financing up-front and no prepayment penalties. However, the loan should be paid off during a certain time period.

  • Delay Payments: Some loans allow you to put off payments for a set period of time. But note that once the time is up, you’ll start making regular payments with an interest rate. This option comes in handy if you don't have the cash but need to take care of a roofing project as soon as possible for safety concerns.

  • Quick Approval Process. When you apply for roof financing, the process can be easy and seamless (thanks to modern technology.) You can apply online, through mobile apps, or call in. This completely takes away paperwork, but you will have to provide an electronic signature. Once your information is reviewed, you'll get the approval notices within minutes! How exciting!

Always remember- any homeowner who's interested in a roof replacement through financing should do the proper research before making any financial commitments. You don't want regrets later, so when in doubt, study, study, study!

Gather Quotes from Reputable Roofing Companies


When you're looking to finance your roof replacement, we'd recommend you get two or three quotes from local roofing companies with solid credentials. If you notice a huge gap between all of the different quotes you got, find out the reasons behind these differences. It's essential to do some research, because some roofers may use a different material than others, and while it may be more expensive, it would offer a higher quality roof.

Magnify glass, model home, and piggy bank sitting on blueprints on a table

A high-quality warranty can cause a price increase, as well. On the bright side, though, you’ll have peace of mind knowing the company stands by its work and will be available to fix it if something goes wrong. Always be thorough when reviewing the quotes to determine the exact amount you must finance to complete your roof replacement, no matter how great the company may appear to be. 

Determine The Available Financing Options for You


on the roof

After you gather a few quotes from local roofing companies and have a better idea of what your roof replacement will cost, the next step is to look at your available financing options.

Typically, the options with lower interest will be the go-to (just like with any type of financing.) Those options will give you lower monthly payments, making it easy for you to afford the payments over a period of time.

With financing options, it is also vital to consider prepayment penalties. Paying off the loan too early could result in penalties with certain financing agreements, which is vital to look out for. The early payoff can offset the interest the lender would have otherwise earned from your loan.

In that case, if you think you might be able to pay off your loan faster than the loan’s term, choosing a financing option that does not have any prepayment penalties might be the best choice for you.

Will You Finance Your Next Roofing Project?


Just one last thing to help you make a decision- before you choose which financing option would work for you, find out how soon you need the money and ensure to read the fine print in your roof estimates

A good roofing contractor can tell you how soon you need to arrange your roof replacement to avoid further damage to your home. This information will give you a better idea of what you are risking if you wait longer for your preferred type of financing!

 Did you know RoofCrafters offers financing options? We do and are eager to help you get started on your next roofing project! Fill out the form through the button below and one of our representatives will happily assist in your financing pre-qualification process. Let's work together to give you the roof of your dreams!

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Scott Wilson

My name is Scott Wilson, and I am an estimator at RoofCrafters Roofing. With over 24 years of industry experience, my main objective for every roofing project I tackle is to make the process as smooth and seamless as possible for home and business owners. Outside of work, you can find me hiking, spending time in nature, and working on my overall fitness!