Roof Replacement Financing Options

Our financing options depend on the size of the job the down payment amount and the homeowner s credit score.

Roof replacement financing options.

If you know that you will need a new roof in a few years start putting away 75 100 every month. Loans and heloc for roof financing are strong options but the best option for roof financing is always drawing from your savings. The average roof replacement recoups only 68 8 of its cost in increased home value according to remodeling magazine s most recent cost vs. Again every policy is different.

Fha 203 k and other government roofing loans. This will help when it s time to pay the large roof bill. Roof financing options secured by your home equity are tax deductible while those that do not require home equity are not. Unfortunately this option only works if you have the cash saved up.

We offer everything from term loans to lines of credit that the homeowner can use. You may also be able to qualify for a roof repair grant. Since it isn t a loan you aren t required to have good enough credit to get approved. If your roof damage is covered the only additional money you should shell out is for a service fee to file a claim usually to the tune of 50 to 75.

Here are five of the most common options. Although replacing a roof can be expensive there are ways to finance the project to make it more affordable. A 20 664 roof replacement would add. The ins and outs of contractor financing.

If you have homeowners insurance you might be able to use your policy to cover the cost of a new roof. Like personal loans home equity loans are also good for financing a roof replacement or major 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. With a minimum of 5k financed we can get you a payment as low as 12 50 month for each 1 000 financed.

You also won t need to pay interest. Your state and the federal government may have special programs for some types of roof repairs. Financing a roof can add value to the home as well as give it more beauty. 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.

For more roof replacement financing options see below. Other ways to finance a roof include through a homeowners insurance claim a home equity line of credit or an allotment loan. The cheapest way to finance your roof is to pay for it with cold hard cash.