Financing a roof replacement isn’t going to be at the top of anyone’s must-do list. Roofs are expensive. There’s no way around that. They rightfully should be. After all, these are the structures that protect the rest of your home from the elements. Regardless of how wonderful roofs can be, it doesn’t necessarily take the sting out of the expense.

Finding the significant funds required to replace a roof is rarely a straightforward process. We don’t live in a world where everyone has thousands of dollars saved in the bank for a rainy day. So, we need to look at options for financing a roof replacement.

It’s a worthwhile investment to spend time learning the ins and outs of roof financing. That’s why we’ve created this guide. Within, you’ll find information on the various financing routes. Plus, we’ll share the best ways you can compare and contrast your available options.

The Costs of Roof Replacement

Before you begin to think about financing, you need to understand the costs involved in a roof replacement. There are many different factors that influence the cost. Prices, therefore, vary widely. The biggest influence is the size of your roof. The larger the roof, the bigger the cost. They require more labor and more materials.

The other primary factor is the type of primary roofing material that you choose. If you’re going for a simple roofing material such as asphalt shingles, then costs will be relatively low. Metal material roofing installation or slate roofs are at the other end of the spectrum and cost far more.

The other major cost during a roof replacement is labor. In some areas of the country, labor is cheaper than others. It also depends on the complexity of your roof and the condition that it currently is in. There might be some aspects of it that are salvageable, or that need smaller repairs rather than a full replacement. If that’s the case, costs can be saved.

Full roof replacements range from $5,000 to $20,000+. It’s a large ballpark figure, but it should indicate the sort of money that you’re going to need to find. Many people need to access financing options to do so.

Why Financing?

When you read those figures above, chances are you immediately thought, “That is a huge amount of money.” Closely followed by, “Where on Earth am I going to find that?” Trust us when we say you’re not alone. Financing a roof replacement is a practical and manageable solution for many people.

Financing not only helps you to spread the costs but also gives you access to a higher quality of services and materials. A level that otherwise might not have been achievable.

The other benefit of financing is that it leaves any savings that you might have secure. You can rest assured that those reserves are there for genuine emergencies or investments that might pay you a return.

Remember that not all financing has to cost you the world. Some financing options offer you the chance to use zero or low-interest rates. The beauty of financing is that it gives you the opportunity to balance what you need now versus managing your long-term financial health.

Types of Financing Options

There are four main categories to consider when financing a roof replacement. By learning the nuances of each, you can then make an informed decision on which is best for you.

Home Equity Loans

Your home is often your biggest asset. If house prices have increased in your area, you may have the option to release some of that equity in the form of a home equity loan. You are, essentially, borrowing against the value of your home at similar interest rates to mortgages. The beauty of this is that mortgage rates are often considerably lower than other loan options.

Personal Loans

If home equity isn’t an option, or you don’t like the idea of using your home as collateral, then a personal loan might be a better choice. Personal loans do come with higher rates of interest but are far easier to secure than a home equity loan.

Government-Backed Loans and Programs

There are some government-backed loan options. The most popular is the FHA Title I Property Improvement Loan. The eligibility includes roof replacements and welcomes those with limited home equity.

Roofing Company Financing

Some roofing companies can offer you financing for the project that they will carry out. There are various options. You could see if deferred-payment plans are available, or they may offer installment loans. Make sure that you carefully read the terms and conditions to ensure that they are adequately regulated by a financial authority.

Tips for Choosing the Right Roof Financing Option

This isn’t a decision that you should take lightly. The financing for your roof may be something that you have in your life for a considerable amount of time.

  • Look into your finances: You’ll need to have a good understanding of your credit score, your current monthly budget, and any savings that you might have. Credit scores are great when they’re high. They unlock better interest rates and minimize fees. Lower scores will pay higher rates and find securing loans at affordable rates harder.
  • Compare interest rates and terms: Grabbing the first option isn’t a smart move. Shop around, look at different options, and compare what you can access.
  • Look to the long-term: This repayment could be with you for 5-10 years. That’s a long time to impact your financial plans. Consider this when planning financing.
  • Read the fine print: There are many terms and conditions when taking out a loan. Make sure you understand them all. Hidden fees, early repayment charges, penalties, and that’s just to start. Check before you commit.
  • Seek professional advice: If you’re unsure, make sure you speak with a financial advisor. They will often be able to point you in the right direction.


We’re always happy to talk about roof replacements and will happily provide you with a no-obligation estimate. That’ll help you to plan your financing options. Feel free to contact Trenton Roofing today.

Alex Valentino

Alex Valentino – Vice President

Leading the way for the company’s second generation of family and employee ownership, Alex’s mission is to create lasting relationships built on trust and respect by providing uncompromising workmanship and unparalleled customer service. With a focus on safety and consumer education, Trenton Roofing strives to set the bar for the advancement of the roofing industry and the betterment of our local communities. When he is not working, Alex can be found traveling with his fiancée, watching football or playing a relaxing round of golf with his friends.