Roof Replacement Financing Options

Although replacing a roof can be expensive there are ways to finance the project to make it more affordable.

Roof replacement financing options.

Unless you ve got the cash on hand you ll have to finance your roof repair. When you finance a new roof through an independent roofing contractor in the owens corning roofing contractor network you can benefit from low monthly payments. This will help when it s time to pay the large roof bill. The cheapest way to finance your roof is to pay for it with cold hard cash.

If you have homeowners insurance you might be able to use your policy to cover the cost of a new roof. The average roof replacement recoups only 68 8 of its cost in increased home value according to remodeling magazine s most recent cost vs. Financing a roof can add value to the home as well as give it more beauty. Roofing loans can be an affordable option if your roof needs to be repaired or replaced if you need to repair or replace your existing roof you may want to look at different types of roofing loans to help you finance and spread the payments of your new roof out over time.

You may also be able to qualify for a roof repair grant. Roof financing options secured by your home equity are tax deductible while those that do not require home equity are not. If you know that you will need a new roof in a few years start putting away 75 100 every month. Unfortunately this option only works if you have the cash saved up.

The ins and outs of contractor financing. Our financing options depend on the size of the job the down payment amount and the homeowner s credit score. A 20 664 roof replacement would add. With a minimum of 5k financed we can get you a payment as low as 12 50 month for each 1 000 financed.

Since it isn t a loan you aren t required to have good enough credit to get approved. We offer everything from term loans to lines of credit that the homeowner can use. If you can replace or repair your roof yourself but still need help paying for supplies both lowe s and the home depot offer project financing. You also won t need to pay interest.

Other ways to finance a roof include through a homeowners insurance claim a home equity line of credit or an allotment loan. Here are five of the most common options. Fha 203 k and other government roofing loans. Loans and heloc for roof financing are strong options but the best option for roof financing is always drawing from your savings.

For more roof replacement financing options see below. Your state and the federal government may have special programs for some types of roof repairs. This lets you pay for your roof in installment amounts you can afford and prevents you from having to pay for a multi thousand dollar roof project in one lump sum.