HomeOutdoorRoof Financing
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Roof Financing For Good & Bad Credit

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Acorn Finance puts you in control of financing your new roof or getting a loan for a roof replacement/repair. Compare personalized roof replacement financing offers from lenders in our network, with no impact to your credit score.

Check pre-qualified offers in seconds with our broad network of national lending partners who want to help you finance your new roof. You can easily sort the financing offers based on what’s most important to you: interest rate, payment amount, length of the loan term.

Our 100% online, customer-friendly process is designed to help you find affordable payment options with lenders that can quickly get roof financing without the hassle.

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Roof Replacement & Repair Financing Process

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Roof Financing: New Roof & Roof Replacement Loans

Roof financing can help you fulfill one of the top priorities of home ownership: keeping a solid roof over your head. If you're in need of a new roof or roof repair you will want to make sure you select a reliable company as well as a trustworthy lender. Below, we've compared some of the top lending options to help you make an educated decision. AcornFinance is a leading provider for roof loans. On approved loans, you can borrow up to $100,000 and take as long as 12 years to pay it back. Keep reading to explore the various roof financing options available for good and bad credit.

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Can You Finance a New Roof?

Yes, you can finance a new roof and it may be easier than you think to qualify. If you have good to excellent credit and equity in your home you can use a Home Equity Loan. Home Equity loans allow you to use your home as collateral and borrow against its positive equity. If you do not have equity in your home or have credit challenges you should consider a personal loan or financing options offered by the roofing or construction company. A little later on we'll go into more detail about the various financing options available for a new roof.

Can I Finance a Roof Repair?

Yes you can finance a new roof, roof replacement, or roof repairs. Roof loans may be more popular than you think. So how do you finance a new roof? One of the best ways to finance a new roof is a personal loan. While a new roof may be expensive, it's usually not a substantial amount of money. Personal loans can provide the funds you need quickly along with flexible repayment terms. While a secured loan such as a home equity loan may offer lower interest rates, they usually require more time investment and more risk. Home Advisor reports the national average for a new roof is about $8,198 with a typical average of $5,399 and $11,050. We will use the national average for payment estimation. If you use a personal loan to finance $8,198 and qualify for a 6.99% rate for 3 years, you can have monthly payments as low as $246. Acorn Finance can help you discover the best personal loan offers for roof financing. You can submit one application and receive multiple personalized loan offers within seconds. Once you have selected the offer you want to use, you can finalize the approval and receive funding the same or next day.

See also: Roof Repair Financing For Good & Bad Credit

Is Metal Roof Financing Available?

Just about any roofing material and installation can be financed, including a metal roof. Metal roofs can be a fireproof, long-lasting, and durable option but they do come at a cost. In most cases, a metal roof can cost about 2-3 times as much as comparable options. However, many homeowners still prefer them because they are less susceptible to leaking, easy to maintain, and reflect the heat allowing for lower cooling costs.

Can You Secure Solar Roof Financing?

Whether you already have solar and need a new roof or you are looking to install a new roof with solar you can qualify for financing. If you are installing solar and a new roof you may want to use separate loans for each project. Solar loans typically have lower interest rates than personal loans because in most cases they are secured loans. In addition, installing solar can allow you to become eligible for rebates and tax incentives. Solar loans are designed to help consumers finance solar and take advantage of the benefits they offer. If you sell your home and your solar is not paid off, it's usually easier to pass over the solar loan to the new buyer. If you have credit challenges you may want to consider using a personal loan for the solar panels and the new roof.

Can You Get Roof Replacement Financing?

If you just need to replace a part or parts of your roof you can still finance the repair. Since this is a smaller job than replacing an entire roof your loan amount should be less. A personal loan can be easy to secure with long repayment terms, making it ideal for roof replacement financing. It may be better to use a personal loan rather than financing with the contractor because it's a smaller job. You may have more negotiating power using outside financing. In most cases, home equity loans are better for larger loan amounts.

See also: Roof Replacement Cost

Can You Finance a Roof with Bad Credit?

If you have bad credit you can still qualify for roof financing. You may be asking yourself, how or where can I get approved? Let us help simplify this for you. If you have bad credit you should use a personal loan for roof financing. While you can go online and apply with multiple lenders, it's much easier and better for your credit to just apply once. Acorn Finance provides a secure platform that can connect you with multiple lenders that can help you. You can submit one application online and receive multiple personalized personal loan offers within seconds.

If you have credit challenges, you can qualify for a personal loan for roof financing. Most lenders have a minimum credit score requirement. You will want to be aware of what this requirement is. If you have credit challenges and do not meet a lenders basic requirements, you probably will not get approved. A large part of getting approved with credit challenges and finding favorable terms is getting connected with the right lender. Some lenders may specialize in helping borrowers with bad credit while others may specialize in helping borrowers with good credit. Acorn Finance has lending partners with minimum credit score requirements as low as 580.

How Much Does A New Roof Cost?

On average homeowners will spend about $7,680 to install a new roof. While entertaining offers and estimates you should use the ballpark of $5,000 – $10,000. It's recommended that you should receive 3-4 estimates for your new roof or repair before selecting the company of your choice. Depending on location, size of the job, and other specifics the cost of your new roof installation or repair can vary. New roof financing options can provide an affordable solution for installing a new roof.

Does Adding a New Roof Increase Home Value?

Adding a new roof can easily increase the value of your home. It can increase the appraisal value and the perceived value. Some studies have even found that adding a new roof can return more than 100% of your investment. If your roof is not in good condition, it can make potential buyers very reluctant to purchase. Most buyers want a move-in ready home that does not need repairs. If your roof is relatively new and in good condition, adding a new roof may not increase your home value significantly. If you are unsure about replacing your roof you should consult a professional.

Can You Pay For A New Roof In Installments?

Financing a new roof can allow you to get the new roof you need while providing the flexibility to pay in installments. Most roof financing options will require a monthly payment. However, most options also offer generous loan terms and competitive interest rates.

Is Roof Damage Covered By Insurance?

Homeowners insurance can cover roof damage in some cases. Whether insurance covers roof damage or not typically depends on what caused the damage. In addition, most insurance policies have a deductible. Depending on how much your deductible is it may be more cost effective to fix your roof using a roof loan versus insurance.

How much does it cost to finance a roof?

How much it costs to finance a roof can depend on your loan amount, interest rate, and term. If you finance $7,700 at 6.99% for 6 years you should pay about $1,098 in interest. Your payment would be about $122. If you pay more than the minimum payment each month you can save a lot in interest. Increasing your payment by 20% can save you about $209 in interest for this loan example.

Financing a roof usually does increase the cost of a new roof. In most cases, you will incur interest and other fees when you finance a roof. The actual cost of a loan can be calculated once you know the interest rate, fees, and loan amount.

Do Roofing Companies Finance?

Some roofing companies may offer financing options. However, you will probably need good to excellent credit to qualify and they may charge you fees for the convenience of the service. In addition, you may have more negotiating power using outside financing.

When To Consider Roof Financing

If you need a new roof but do not have enough cash on hand to pay for the repair, you should look into roof financing. Paying a little in interest may be better than emptying out your savings account.

What Is the Best Way to Finance a Roof?

As we mentioned previously, personal loans are one of the best ways to finance a roof or roof repairs. They are relatively easy to get and all credit types can qualify. Furthermore, most personal loans are unsecured meaning they do not require collateral. In addition, the interest rate is typically fixed. This means that your monthly payment will be consistent, thus making personal loans easy to manage. However, it's important to make sound financial decisions for your circumstances. While a personal loan may be a great fit for most homeowners, it may not be the best option for all homeowners. If you need to make significant home improvements you may want to consider using a secured loan such as a home equity loan or home equity line of credit.

How Can I Pay for My Roof With No Money?

Most personal loans do not require a down payment. However, you will be required to repay the loan monthly. Most of us are on a budget and lenders understand that. Before securing a personal loan you should select an appropriate loan amount and term to ensure the monthly payment is affordable. If you get approved for a personal loan but are concerned about being able to cover the monthly payment, you should communicate with the lender. Most lenders should be willing to work with borrowers to ensure loan payments are affordable, thus increasing the likelihood of the loan being repaid on time and in full.

Roof Financing Options

Below we've compared some of the most popular roof financing options to help you make a more educated decision.

Roofing/Construction Companies: Need help managing the cost of a new roof or a roof repair? In most cases, your construction company can help. Most companies can work with banks or lenders to provide roof financing options. Due to the volume of lending, companies can receive special rates and discounts that can be passed along to their customers. On the downside it can be harder to compare financing options when financing through a roof or construction company.

  • Special financing offers
  • Affordable payments
  • Funds available quickly
  • Allows you more flexibility
  • Saves time
  • Smaller companies less likely to offer roof financing
  • Risk of inflated pricing for materials or services
  • Harder to compare options

Personal Roof Replacement Loans: Taking a personal loan for a new roof or roof replacement can be an attractive option for many. Compared to a home equity loan, a personal loan allows you to only borrow the amount you need. In addition, no collateral is required in most cases. Personal loans can be a competitive options for good and bad credit types. Acorn Finance is a reliable and top-rated company that provides personal loans for roof financing. Take advantage of affordable payment options and free services while saving tons of time.

Three steps to get secure Roof Financing with Acorn Finance: #1. Complete and submit a short loan application online

#2. Receive multiple pre-qualified offers

#3. Get connected with lenders to obtain your pre-qualified loan

  • Roof financing available up to $100,000
  • Competitive interest rates as low as 4.49 percent
  • Terms up to 12 years
  • Receive pre-qualified offers without impacting your credit score
  • Easy to activate
  • Not a direct lender
  • Credit may be required for approval

Home Equity Loans: If you have significant equity in your home you may want to consider a home equity loan for roof financing. In simplest terms a home equity loan allows you to borrow money using your home as collateral. It's important to note that when using a home equity loan you borrow the whole approved amount rather than just the amount you need.

  • Fixed interest rates
  • Potential tax deductions
  • Good option if you have bad credit
  • Competitive interest rates
  • Risk losing your home
  • High fees
  • May borrow more than you need

Lines of Credit: A personal line of credit limit typically ranges from $1,000 – $100,000 and falls somewhere between a personal loan and a credit card. In most cases you would apply for a personal line of credit through a bank or credit union.

  • Unsecured loan (no collateral needed)
  • Use funds however you want
  • Quick access to funds


  • Variable interest rates
  • Uncertainty of what monthly payment will be
  • Annual maintenance fees can apply

Our Top Roof Loan Options

Part of finding the best roof loan is finding a lender that meets your needs. Acorn Finance has lending partners that can help all credit types secure personal loans for roof financing. You can secure personal loans up to $100,000 with rates as low as 6.99% and terms up to 12 years through Acorn Finance. In addition, their platform is free to use and can save you tons of time and hassle.

LightStream Roof Financing
If you have good credit, LightStream has extremely competitive roof loan offers. As a division of Truist bank, LightStream takes a unique approach to online lending. To qualify for a LightStream personal loan you should have a credit score of 680 or above. LightStream customers can enjoy no fees, low interest rates and personal loans up to $100,000. Rates can vary based on the borrower, loan amount, and loan term. LightStream offers interest rates starting at just 2.49% including an autopay discount. If you are approved by another lender with a lower interest rate, LightStream will beat the rate by one-tenth of a percentage point. Of course, they'll want evidence of the approval and terms before matching the rate. LightStream is part of the Acorn Finance family.

Best Egg Roof Financing
If you have credit challenges, Best Egg can help you secure a personal loan for roof financing. To qualify for a Best Egg personal loan you should have a minimum credit score of 640 with interest rates starting at 5.99%. Best Egg can provide competitive loan offers for borrowers with fair credit. On the downside, Best Egg has a maximum loan amount of $50,000 and only offers a 3 and 5 year term. If you need funds same-day you may need to use another lender. In most cases, Best Egg funds loans by the next day. Most lenders that work with borrowers that have less than perfect credit charge origination fees and other fees to offset some of the risks. Best Egg charges origination fees and late fees. Reviews highlight Best Egg's transparent offers and terms and excellent customer service. Also, Best Egg offers financial education for borrowers. Best Egg is also part of the Acorn Finance family.

Upgrade Roof Financing
Upgrade can help individuals with a credit score of 580 or above secure a personal loan for roof financing. While their interest rates might be higher than other lenders, they can offer opportunities to borrowers that have credit challenges. Upgrade offers personal loans up to $50,000 with interest rates starting at 6.94%. When evaluating applications, Upgrade places a heavy focus on available cash flow. They are more concerned about applicants' debt-to-income ratios than rent payments or monthly expenses that may affect an individual's ability to repay a loan. If you experience a hardship such as a job loss, you may qualify for Upgrade's Hardship Program. The Hardship Program can reduce your monthly payment or extend your loan term to help you get through a tough time without ruining your credit. Upgrade is another top lender that is part of the Acorn Finance family.

SoFi Roof Financing
SoFi is comparable to Best Egg but has a slightly higher minimum credit score requirement of 680. SoFi is best for borrowers on the verge of fair and good credit. However, SoFi offers higher loan amounts than Best Egg. SoFi offers roof loans between $5,000 to $100,000 with interest rates starting at just 5.99% with autopay. In addition, SoFi is okay with borrowers that may have a short credit history. They focus primarily on how responsible you have been at paying bills on time. SoFi does not charge any fees and allows joint applications. Customers can take advantage of exclusive member benefits such as access to career coaches and financial advisers.

Financing for Roofing Projects & Contractors

There are a variety of lenders and companies that work with contractors so that they can offer roof financing. Some of them may charge a fee to the contractor which can be passed along to the customer. As a consumer, you should ask the hard questions to make sure you are not paying more to finance with the contractor.

What is roof financing?

Roof financing is using a loan or other financing option to pay for your roof. It can be a good way to pay for a new roof if you don't have the money or savings to pay for the roof out of pocket. Replacing an old roof can be very expensive, with an average cost of $7,800. If you delay the work or don't fix it promptly, you can end up paying more.

This is when roof financing comes in and can help you get the work done sooner. There are several ways you can finance a roof.

The first option is a personal loan or home improvement loan. They are unsecured loans that generally have a repayment period of 2-7 years. The higher the credit score you have, the lower interest you may qualify for. Usually, your credit score needs to be 690 or higher to qualify for the best loan terms. There are many pros and cons to taking out a personal loan.


No collateral. Personal loans are usually unsecured and won't require you to put up collateral like a home equity loan or secured personal loan.

Fast funding. Many online lenders give you your funds the same or the next day after approval. Some may take up to a week, but the funding is usually efficient and quick.

Lower rates than credit cards. Personal loans usually have lower interest and better terms than credit cards. This is especially true if you have good to excellent credit.


Higher rates than home-equity loans. There are no collateral and shorter repayments which means the personal loans will have higher interest rates.

No tax benefits. Personal loans don't allow you to deduct the interest off your taxes as some other loans do.

The second option for financing a roof is using a credit card. This can be high interest but might be a better option if you have low credit usage and can't get a personal loan. Some credit cards have a promotional period offering 0% interest. You can get a credit card and try to pay it back before the promotional period ends.

Home equity loans are another option. This funding may take longer because you have to go through an appraisal process and a title search. You usually need to have about 20% equity in your home to qualify. On the upside, it may offer longer repayment terms, sometimes 20 years or longer.

Some roofing companies offer their own financing options or financing through third-party lenders. While this may be a good option, make sure you compare offers. Roofing companies and lenders understand the convenience factor associated with financing offered on the spot and may try to take advantage.

Government-insured loans are also available for some people. The most common options are FHA 203(k) standard loans and FHA Title 1 loans.

Can you finance fixing a roof?

Yes, you can finance fixing a roof through personal loans and some other loan options. At Acorn Finance, you can check home improvement loan or personal loan offers with no impact on your credit score. You can get prequalified within seconds and explore various offers.

Loan companies and lenders all offer different financing options and ways for you to replace your old roof. If you notice problems with your current roof, make sure you get the issues fixed right away.

Shop around for loan options and labor prices. Have several contractors give you estimates and see which one is the best. All estimates should be put in writing so you know exactly what the contractor expects, and you can be sure you have enough money to cover all of the costs.

What type of loan is best for financing a new roof?

This depends on your situation and how much money you plan to spend on the new roof. Many people choose to use home equity loans if their homes have enough equity in them. This can be a great financing option because they usually have low interest and long repayment terms. However, if your home doesn't have enough equity, you won't qualify them and may need to get a personal loan.

Personal loans are usually unsecured and won't require any collateral. They are a great option for people who don't want to use an asset to secure a loan. Personal loans often have higher interest rates than home equity loans, but some prefer them because they don't need to put their home on the line.

How often can you finance a new roof for a home?

There are no state or federal laws that put limits on the financing time for a new roof for a home. It will depend on the lender and how often they are willing to loan you money. Some lenders and banks are not willing to give more than one loan at a time. In some cases, the second loan might have higher interest and terms that are not ideal.

You will also need to determine how long you can go between new financings. Having too many loans or too many payments at one time can hinder you financially and make it hard for you to save any money.

Can you finance a new roof for a vacation home?

Yes, you can finance a new roof for any home that you own. Using a personal loan is often the first choice for many people who need a loan to fix their roofs. Your vacation home should be kept in good shape because you may rent it out to others. It should also be protected against damage so that you can continue to use your vacation home when you want to take a break away from home.

You can secure a home equity loan to replace the roof on your vacation home. However, it may be harder to qualify for a home equity loan on a vacation home compared to a primary residence. You may need to have more equity and interest rates may be higher. With less appeal and more work required, vacation homeowners may lean towards using a home improvement loan or personal loan for roof repair or replacement.

Can you finance a new roof for a rental home?

This will depend on your landlord. Some landlords will want to finance the roof themselves rather than having you use a lender or contractor that you have chosen. It should be laid out in your rental agreement what's okay to do. Technically, it should be your landlord's responsibility to ensure that the home you rent is safe and liveable. If your roof is posing any kind of danger, you may be able to break your lease, if your landlord is unwilling to fix it.

If you own a rental home, you can finance a new roof with a personal loan. If you have good credit, you should be able to get the best interest rates and loan terms. A rental home is able to have roof financing just as your normal home would.

What credit score do I need to finance a roof?

Your roof is extremely important to the integrity of your house. It protects you from the elements but is also expected to withstand all kinds of environmental issues twenty-four hours a day and seven days a week. If your roof needs repairs or you need a new one, most professionals will advise you to get it fixed as soon as possible. Delaying repairs can make the situation much worse and ultimately cost a lot more to fix.

People sometimes find themselves in situations where they need repairs but they have a low credit score or they are uncertain what their credit score is. The first step is to check your credit score. Once you know what your credit score is, you can begin the process of getting roof financing. One thing to check too is your homeowners' insurance. Your roof issues might be covered or partially covered by your home insurance plan. If not, there are other ways to get the money you need.

Roof repairs or a whole new roof can be financed with a home improvement loan or personal loan. A personal loan can be used for anything because the lender does not control the disbursements once the loan is funded. Unsecured personal loans represent more risk to a lender than secured loans. An unsecured loan is funded based on the borrower's promise and ability to repay. If the borrower doesn't pay, the lender may lose that money.

Lenders use your credit score to see how well you have paid your borrowings in the past. If your credit score is good, it means you have made your payments on time and your previous borrowings have been repaid or are in process of being repaid. Lenders usually want to see that borrowers have at least a fair credit score. Credit scores range from 300-850.

This number will fall into a category from poor to excellent:

  • 300-579 poor
  • 580-669 fair
  • 670-739-good
  • 740-799-very good
  • 800-850-exceptional

Most lenders prefer to see a credit score of at least 640 but it is possible to get a loan with a score of 550.

What is the best way to finance a roof if I have bad credit?

The best way to finance a roof if you have bad credit is to pay cash if you can. You will avoid a credit check, high interest rates, and monthly payments. If you don't have the cash available and are looking for roof financing for bad credit, you do have some options. An unsecured personal loan is best because you will not have any security pledged that you could lose if you don't make your payments. Your rates might be very high though if your credit is bad.

You could check with the company that's repairing or replacing your roof to see if they offer roof financing. Sometimes they have more flexibility when dealing with borrowers that have bad credit than a bank or credit union has. As with a personal loan, you need to be mindful of the rates that are offered because they can be quite high too.

You can see if you can qualify for a secured loan if you have collateral. The rates can be lower if the lender has security. You do need to be aware that if you don't make your payments the lender can take your security to settle the debt.

Is it a bad idea to finance a roof with a low credit score?

Financing a roof when you have bad credit may or may not be a bad idea. If you need repairs or a replacement urgently, it would be wise to get the work done. Leaving things to get worse can result in much higher repairs costs and additional damage. If you have a low credit score, you may find yourself paying a high rate of interest. If you can wait to fix your roof, you may want to take the time to save some money so you don't need to borrow as much. You can also work on improving your credit score. If you make your payments on time, reduce your debt, catch up on any late payments, and don't apply for new credit your score should go up. Having a better score can help you qualify for a loan with a better rate and a higher amount.

How much will my monthly roof payment be with bad credit?

Your monthly payment will depend on your rate and terms. When you have bad credit, you can expect your rate to be higher. Loans for borrowers with bad credit can be as high as 35.99%. OneMain extends loans of up to 20k with no minimum credit check. The interest rate can be anywhere from 18%-35.99%. A 12k loan with a 48 month amortization at 18% will have a payment around $352.56 and interest costs of about $4,920.00. A loan with the same amount and term but an interest rate of 35.99% will have a monthly payment around $474.86 and total interest costs of about $10,793.23. While this sounds like a lot (and it is), it may be cheaper than the repairs you will have to pay for if you let your roof get worse.

Can you pay for a new roof with a credit card instead of a loan?

If you have to pay for fixing a roof or replacing it, you might be able to put the charges on your credit card and pay it off over time. You will need the limit available or need to apply for a credit limit increase. Credit card companies often have promotions on granting borrowers a low rate for a certain period of time. This can be an offer like 0% for 12 months. If you don't pay off the balance during the time period of the offer, the rate will go back to its normal interest rate. If you know that you will be taking a while to pay it off, you can make your payments and work on making sure you improve your credit rating. Once your credit rating has improved to where you can get a loan with a rate lower than your credit card, you can apply for a loan to pay off the card.

Using a credit card can have other advantages too. Reducing your balance by making your payment on time can help you improve your credit rating. Credit cards are fully open meaning that there are no fees to make prepayments or pay them off early. Already having the card eliminates the need for another credit check on your credit report which can drag down your score.

The best thing to do though is to find out if you qualify for a personal loan with a better rate than a credit card. Credit cards can be very convenient but also very expensive.

How can Acorn Finance help me get roof financing with bad credit?

Acorn Finance partners with top national lenders to offer a platform where consumers can check home improvement loan offers. If you have bad credit, accessing several lenders at once can increase your chance of approval and save you time. Essentially, home improvement loans are just personal loans. Whether you use a home improvement loan or personal loan, you usually don't have spending restrictions. This means you can spend the funds on just about anything you need. So how does financing work at Acorn Finance? Simply, fill out a form and check offers within 60 seconds or less, with no impact on your credit score. Once you have compared offers, select the offer of your choice and complete the process with the lender. In some cases, loans can be funded in as little as 1-2 business days, although funding times can vary. Our lending partners can offer loan amounts between $1,000 to $100,000 with APRs as low as 6.99%, depending on credit score. Most lending partners on the Acorn Finance platform have a credit score cutoff of 600 or above.

What is the best type of roof?

There are actually multiple types of roof that may be determined the "best". Each roof type has their own advantages and disadvantages that homeowners should be aware of. The question rather should be, which roof type is best for you? Factors like budget, where you live, climate, and style preferences, may all play a part into determining which type of roof is best for your home. Here are some of our favorite roof types commonly found in the United States.

  • Metal roofing: If you can afford the upfront costs of a metal roof, you may want to consider installing one on your home. Metal roofs are extremely durable and last a lifetime. You can find metal roofing in panels or in metallic shingles. They are typically made from aluminum, copper, stainless, or zinc. Depending on where you live, you could expect your metal roof to last at a minimum of 40-years. Some metal roofs can last 75-years or more. Basically, install a metal roof and the chances you will have to have it replaced while you are the homeowner is slight to none. Metal roofs are also solar reflective, helping keep the interior of your home cooler in summer months.
  • Ceramic, clay, or concrete tiles: Typically known for their Spanish Colonial style, ceramic tiles do not need to be only for homes located in the Southwest United States. Ceramic or clay tiles add texture and a gorgeous aesthetic to a roof and home. They are heavy, durable, and long-lasting. Ceramic tile roofs can last anywhere from 40 to 50 years if they are taken care of. Putting on a tile roof though is no easy task. As some homeowners might be somewhat comfortable having some friends come over and put on an asphalt shingle roof, a ceramic tile roof takes professional installation from experienced roofing professionals. If you are looking for a similar look with a little less of a price tag, you may want to explore concrete tiles. They have the same look and feel as ceramic tiles but they are a little more lightweight and a little cheaper.
  • Slate: Slate roofs are far more common in other parts of the world than the United States, however, they have recently become popular with homeowners who have Colonial, European, or French chateau-style homes. Slate roofs are extremely durable, and simply put, they are beautiful. Typically they come in natural slate tones like black, green, grey, red, or purple. These roofs are fire-resistant and completely recyclable. Again, not for the amateur roofer, a certified roofing professional that specializes in slate roof installation will need to ensure these are properly installed.

If you noticed that asphalt shingles were left off this list, just know that there is nothing wrong with asphalt shingles. They are, however, just the most common roofing material in the United States. They are inexpensive, widely available, but have the shortest life span of all the roof types available. That being said, there is nothing with an asphalt shingle roof, just expect to have a new roof installed once every 15-years.

Is it better to repair or replace a roof?

If you have some minor damage, a leak, or have some shingles fly off during strong winds, you may be wondering if you should repair the damaged portion of your roof, or just replace the entire thing. The size of the damaged area and the age of the roof will be the two main things to consider. If you simply have some high winds come through and take off a few shingles, you should be able to replace them quite easily If you have a leak. How old is the roof? If it is already nearing 13, 14, 15, or more years in life, then you may want to consider replacing the entire roof since it should be done soon anyway. If you have a brand new roof, and somehow it starts to spring a small isolated leak in a particular area, then it may be worth just repairing the damaged area. If you are unsure, you could always ask a professional roofing company for a consultation. Feel free to get multiple opinions if you are concerned about getting taken advantage of.

What is the difference between roof repair and roof replacement?

A roof repair is an isolated portion of the roof that may be as small as a few shingles or as large as the entire face of the house that needs to be fixed. A roof replacement involves removing the entire roof and putting on a brand new one.

Does homeowners insurance cover roof repair?

Most often, homeowners insurance will cover roof repair for one-time events that cause a roof to be damaged or to begin to leak. They may not, however, cover damage or leaks that are obviously from years of wear and tear. The events covered by your homeowner's policy should be listed in the" open peril" section of the policy. There you will find possible events not covered by your policy.

What is considered a roof repair?

A roof repair is having a section or portion of your roof fixed rather than the entire roof. It could be for some missing shingles or for a leak that has sprung. Some homeowners insurance policies cover roof repairs if the damage is the cause of a one-off event like a fallen branch or a wind storm.

What is involved in re-roofing a house?

Re-roofing is the process of updating or replacing your home's current roof. You can either do a complete tear-off, or you can overlay your old roof with the new roof. The overlay method simply involves having a new layer of shingles placed over the old. It may be a less expensive fix to hold you over for some time, however, eventually, both layers will need to be removed and a new layer installed. The tear-off method involves removing the old roof to make way for the new roof. It may be more expensive, but it is the best method in general. If you already have an overlaid roof, then you will have no choice but to complete a tear-off re-roofing.

What is the process of roof replacement?

The process to complete a roof replacement can take anywhere from three to five days. Here are the most basic steps of how the process would be complete.

  1. Prepare the home for roof replacement.
  2. Remove the existing roof.
  3. Install the metal flashing.
  4. Install the felt paper underlayment.
  5. Install the roofing material.
  6. Clean up and final roofing inspection.
  7. Discuss warranty.

These are the most basic steps of completing a roof replacement. Steps may vary depending on the roof type being installed.

How do I estimate roofing costs?

The best way to estimate your roofing costs is to consult with a few different roofing companies to have them come to your home and give you an accurate estimate for your particular situation. If you are looking for the national averages, then in 2021, the average homeowner spent somewhere around $8,537 to have a newly installed roof.

Check Offers For Roof Financing Today

Keeping your roof in good working condition is an important part of maintaining your investment. A roof performs a very essential function of providing shelter and helping to keep us safe. Although a new roof or roof repair can be costly there are plenty of roof financing options that you can take advantage of. AcornFinance is a trustworthy company that partners with reputable lenders to provide competitive roof financing. You can apply online using their simple three step process to receive multiple offers for roof financing. This allows you to save time and compare offers easily. Ready to take the next step? Apple online today!

When it comes to securing a roof loan, you have options available. If you have equity in your home and want to make significant home improvements you may want to consider a secured loan. However, personal loans are usually one of the easiest types of roof financing to secure. If you are working with a contractor that offers roof financing, they are most likely offering personal loans. Acorn Finance can partner with individuals and contractors to provide personal loans for roof financing.

Roof Financing Frequently Asked Questions

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Do roofing companies provide financing?

Yes, there are plenty of roofing companies that provide financing for roof replacements and roof repairs. There are four main types of roofing companies, and these four different types of roofing companies may provide different options for financing. Here is a look at these four different types of roofing operate their business and what kind of financing they may provide.

Storm chasers: When a big storm with high winds and potential hail hits your area, you may begin to notice roofing company trucks targeting entire neighborhoods by passing out flyers, making sales calls, and going door-to-door. There is nothing entirely wrong with these types of companies, however, they provide a service that is limited in scope. First, they most likely do not provide financing options, and instead, they wish to seek customers who are willing to file a claim on their homeowners insurance to pay for the costs associated with the repairs or roof replacement. Second, they may not be from your local community and they most likely offer very limited customer service.

Small business roofing companies: Small business roofing companies are more likely to be for your local area, have a small number of roofing crews, have some of the lowest prices, and may or not offer to finance. If they do offer to finance, it may be from a local financial institution or credit union that they work with directly to send financing referrals.

Full-service roofing companies: Full-service roofing companies are going to be a bit larger than small business roofing companies, they may even have multiple offices, service multiple areas, and have a larger number of roofing crews. These types of roofing companies most likely will help with insurance claims, offer to finance, and contain a strong customer support staff to assist with the process.

Sales-driven roofing companies: Sales-driven roofing companies are almost always larger commercial entities that may offer their services across several states and/or regions of the US. These types of companies could also be called retail roofers. They may be more expensive than the other types of roofing companies but they should offer to finance, help with insurance claims, and customer support.

Of these types of roofing companies, it is the full-service and sales-driven companies that are most likely to offer financing. You may want to be wary of financing offers that state they are $0-down and 0% interest for a period of 12, 18, or 24-months. These types of financing options may sound like a good deal but often they are designed to prevent you from paying off the entire loan within the grace period and they might contain a large number of additional fees that a normal home improvement or home equity loan would never contain.

Another type of financing that a roofing company may offer is a straightforward personal loan offered directly from the company or a financing partner that they work with exclusively.

If you are interested in securing your own financing through a bank or online lender, then a home improvement loan or home equity loan may be the best option. Both of these financing options offer fixed-rate loans, however, the main difference is the fact that a home equity loan requires you to use your home as collateral whereas a home improvement loan, if you qualify, requires no collateral at all. Home equity loans allow you to borrow up to 85% of the equity in your home and home improvement loans allow you to qualify up to $100,000 to make repairs and/or improvements to your home. If you go the route of a home improvement loan, you could also coincide the timing of your roof replacement with another home improvement project like an addition or kitchen renovation.

Can you finance a new roof with bad credit?

If you have bad credit, it may be worrisome to think about what would happen if you needed an emergency roof repair or roof replacement. Or simply, the age of your roof is nearing the point where a replacement may be required. Whatever the reason you need work done on your roof or no matter the size of the job, you should know that even with bad credit you may have financing options at your disposal. The first thing you may want to do before seeking financing is to check your homeowner's insurance policy to see if the damage to your roof is covered under the policy.

If there is damage to your roof caused by a severe storm there may be a chance that your insurance can pay for the costs of the repair regardless of your credit score. A simple phone call could save you a lot of money. If the damage to your roof is from normal wear and tear, chances are that you will need to seek financing to pay for the repairs or roof replacement.

Depending on how bad your credit score is, you may still be able to qualify for a personal home improvement loan to cover the costs associated with replacing or repairing your roof. Many online lenders are available to help an individual finance a roof replacement, and some lenders even specialize in working with those individuals with bad credit. A personal home improvement loan, or a personal roof loan, can give you the upfront cash you need to pay for a roofing company to come in and complete all the required repairs. Once you are approved for the loan and the funds are deposited into your account, you can pay the roofers and simply pay the loan off over a period of time. Typical personal roof loans can span anywhere from 3 to 7-years. In exchange for the upfront payment from the lender, you will be required to pay the principal plus interest over the life of the loan.

If you have any built-up equity in your home, you can also explore using a home equity loan or a home equity line of credit to pay for the roof repairs or replacement. If you have bad credit, however, and there is even the slightest chance you think you could fall behind on payments in the future, you may be required to sell your home to pay the lender. If your credit score is bad, but you still can qualify for an unsecured personal loan, you will not lose your home if you happen to default.

What credit score do you need to finance a roof?

Many lenders may require a minimum credit score of 640 or 660 to qualify for a personal loan to finance your roof. However, some lenders are willing to work with you even if you have a credit score closer to the 580 range. With a credit score that is closer to 580, a lender may require you to use collateral or a cosigner to qualify for the loan. If you know you have bad credit, but you are not sure exactly how bad, you can always use an online service that can help you monitor your credit score for free. Legally, you are entitled to one copy of your credit report from each of the three credit bureaus once every 12-months.

Is it bad to finance a roof?

Financing a roof repair or replacement may not be a bad financial decision for many people. The best way to pay for anything is in cash, and if you have an emergency fund, you may be able to use funds from that account to cover your roofing costs. However, do you want to use a significant portion of your emergency fund to pay for the roof? What happens if a different emergency expense like a car repair or a furnace replacement comes up soon after? A roof replacement can sometimes cost over $10,000. With an expense as significant as this, you may want to consider financing the roof and paying off the total amount monthly. If you have good credit, you may be able to qualify for low-interest rates that do not make the idea of financing unreasonable in exchange for not depleting your savings.

Can you pay monthly for a new roof?

Yes, paying for a new roof monthly is an extremely common thing that homeowners choose to do. However, there are many options that a homeowner can consider when wanting to finance a roof repair or roof replacement and pay off the total amount with monthly payments. Here is a quick list of some of the most common ways to acquire financing with monthly payments.

Home equity loan or home equity line of credit: Borrow money against the equity of your home and pay off the loan monthly. Your home is used as collateral and there is a chance of losing your home in the event of default.

Financing through the roofing company: Many mid to large-sized roofing companies offer their own in-house financing or partner with a financing company that can help you create a monthly payment plan.

Personal loans: A number of online lenders offer home improvement loans in the form of unsecured personal loans. If you qualify for one of these unsecured personal home improvement loans, you can pay off the loan over time and simply pay interest. Different lenders will have different requirements for qualification.

Credit cards: Credit cards may be an option for homeowners who may have the credit line available and that may not qualify for other types of financing. The main downside of using credit cards is higher interest rates and no pre-determined pay-off dates.

There may be other financing options out there, however, these four options are typically the most common financing options that homeowners pursue when looking to pay for roof replacements or repairs.

Can you pay for a roof with a credit card?

Yes, credit cards are one way that some homeowners choose to pay for a new roof. Credit cards provide a quick and easy option to pay the roofing company or general contractor, however, you may end up paying much more money for your roof in the long run. Credit cards can often have much higher interest rates than other types of financing, and with no pre-determined pay-off date, you could stretch out monthly payments to a point that you end up unnecessarily paying hundreds or even thousands of dollars more than you should.

How much does it cost to replace a roof on a 3,000 square foot house?

The total price of a roof replacement is determined by a number of factors. Factors like the materials used, labor costs, and old roof removal expenses, all can vary based on the company and the area your home is located. If you are looking for a rough range of how much a new roof on a 3,000 square foot home would cost, then you could expect anywhere from $7,300 to $15,000.

How much does it cost to replace a roof on a 1,800 square foot house?

Based on variables on the price of materials, labor costs, geographic location, and the company being hired, a full roof replacement on a 1,800 square foot home would cost somewhere between $6,700 to $9,500.

What is the average cost to replace a roof?

The main determinant of how much a full replacement could be is the size of the home. Yes, materials, labor costs, and other factors apply, but n]by using the size of the home a range can be estimated to give a homeowner a ballpark figure. For example, for a smaller-sized home in the 1,000 to 1,200 square foot home, someone may expect to pay somewhere between $4,000 and $6,500 for a full roof replacement. For a home that is closer to the 2,500 to 3,000 square foot range, prices could range from $9,000 to $16,000.

Can you finance a metal roof?

Yes, financing a metal roof may be an excellent option for homeowners looking for a roof style that is long-lasting and low maintenance. Many roofing companies that specialize in the installation of metal roofs may offer their own financing directly through the roofing company or through a financing partner. Otherwise, someone looking to install a metal roof could explore private financing options through a home equity loan or a personal home improvement loan.

How much does a metal roof cost on average?

The average metal roof can cost anywhere between $9,545 and $43,819. Prices vary depending on the size of the home and the material used. For example, here are some breakdowns of how the type of metal roofing used can affect the overall price.

  • Aluminum Roofs : $3.25 – $5.75 per square foot.
  • Copper Roofs: $14 – $22 per square foot.
  • Corrugated Metal Roofs: $1.80 – $2.50 per square foot.
  • Standing Seam Metal Roof: $4 – $12 per square foot.
  • Steel Metal Roofs: $3.35 – $4.50 per square foot.
  • Tin Roofs: $3.25 – $14.65 per square foot.
  • Zinc Metal Roof: $5.65 – $11 per square foot.

Are there metal roofing companies that finance?

Yes, plenty of metal roofing companies offer their own financing or partner with a finance company that can help you secure the funds you need for your new metal roof.

Can you finance an asphalt roof?

Yes, financing the costs associated with replacing an asphalt roof can definitely be financed. There are many finance options out there that range from direct financing from the roofing company, personal home improvement loans, home equity loans, and credit cards.

How much does an asphalt roof cost?

The average hometown in the United may pay anywhere from $4,000 to $16,000 to have a new asphalt roof installed. This range in price reflects how the cost can vary greatly depending on the size of your home and the roofing company you choose.

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