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Complete our 60 second form, and we’ll show you personalized rates from multiple lending partners. You’ll be able to find savings by comparing roofing monthly payments and rates from several providers.
Using Hearth is free, and will not affect your credit score.
You can learn more about personal loans for home improvement by reading our comprehensive guide.
Personal roof loans have the following features:
Our roofing loan calculator lets you choose different rates, amounts, and terms to figure out what your monthly payment would be.
Personal loan providers look at 3 factors to determine whether to qualify for you for a roofing loan:
Here are some of the roofing projects you should consider for a personal loan:
If you’re in a hurry, a personal loan can be a great financing option for a new roof. Roof replacements can cost between $3,000 and $10,000. (Check with a professional to get a more accurate cost because complex roofing projects may cost more than $10,000).
Most DIY roof repairs are probably too cheap for a personal loan; new asphalt shingles can cost a couple hundred dollars. You may want to look into 0% APR credit cards for these projects. But for major, multi-thousand dollar roof repairs, a personal loan could be the right choice for you.
If you’re trying to get your home on the market, having a new roof could help you close faster. Personal loans could be a great fit for this type of upgrade.
Homeowners insurance plans kick in coverage after you pay a deductible that ranges from a few hundred to a few thousand dollars. Even if your insurance will cover your roof, you may need a roof replacement loan just to cover the deductible.
Not set on a personal loan? Read on to learn about other roof financing options.
Note: If you're a roofer, visit our contractor financing page to learn more about our financing program. You can also visit our partners at Roofing Insights for other roofing tips.
You’ve been planning on replacing your roof, fixing a leak, installing new flashing, or performing another type of roof repair. Before you can start your project, you have some big questions to answer:
How will I pay for a new roof or roof repair project?
How can I pick a roofing loan or other financing option that doesn't mess up my financial plan?
There are financing options available for your roofing project, but that doesn’t mean every one is the right fit for you.
We’ve worked closely with personal finance experts to help recommend you the right roof financing options.
However, if you’re like many people who need a roof repair or replacement, you probably can’t sit around and wait to save. A leaking or otherwise damaged roof means you need to find roof financing quickly.
Your insurance may cover your roof’s damage if it was caused by something beyond your control–say a storm or fire. On the other hand, your insurance probably won’t cover any problems related to a lack of maintenance or natural wear and tear. You should check your policy or call your insurance company to find any exclusions, coverage limitations, etc.
Coverage from homeowners insurance doesn’t necessarily mean you won’t need financing if you don’t have cash. You may have to pay a deductible before your coverage kicks in and, without cash saved, financing will be your best bet.
In the next two sections, we’ll show you how you can finance your roof project.
Roofing loans have a key advantage: you get the money you need upfront.
Although this lack of flexibility may seem cumbersome, it actually incentivizes you to map out a detailed budget before you begin. Houzz found that few homeowners stay on budget during renovations, which leads to overspending.
Before getting the loan, you should know how much financing you’ll need for your roof replacement. We recommend consulting with 3 or more professionals to get a robust estimate.
The right roof replacement loan option for you depends on two factors:
Our Homeowner’s Guide to Home Improvement Loans, written in consultation with several personal finance experts, will teach you more about finding the right loan for your roof replacement.
Let’s take a look at each loan option and see how your home equity and timeframe should influence your decision:
If you’re on a tight timeframe and don’t have enough equity in your home, then a personal roof loan may be the right roof financing choice for you. We described above how Hearth can help you find the right personal loan for your roof.
If you have more time, you may want to consider a home equity loan. These loans will have lower rates than personal loans, but they can take 4-6 weeks to approve. You’re also likely to pay hefty closing costs, and could face prepayment penalties if you pay the loan back early.
Like personal loans, home equity loans are also good for financing a roof replacement or major repair.
Your state and the federal government may have special programs for some types of roof repairs. You may also be able to qualify for a roof repair grant. You can read our guide on FHA 203(k) streamline loans and our guide on home repair loans to learn more about these options.
Unlike roofing loans, lines of credit give you more flexibility to borrow as needed. You avoid the pitfall of paying interest and fees on more money than you ultimately use.
You have two main roof financing options in this category: credit cards and home equity lines of credit. Let’s take a look at each.
Under the right circumstances, a credit card can be a good option for a roofing project. Credit cards let you borrow money up to a pre-defined credit limit, and if you pay back your balance quickly, you may be able to avoid debt that quickly grows out of control. In this section, we’ll discuss the types of cards we offer, tell you when to consider a credit card, and discuss when you should look elsewhere.
0% APR credit cards If you have good or excellent credit, you may qualify for a 0% card. These cards have no interest for an introductory period, usually 6 to 18 months. You could finance your new roof without paying any interest if you pay down your balance before this introductory period ends.
Explore 0% home improvement credit cards through Hearth.
Roofing credit cards for bad credit If your credit needs work, you probably want to save cash or take the time to repair your credit score before considering a new roof project. But sometimes you can’t wait. If you have an emergency leak or other problem, then a credit card may be your only option.
Be sure to develop a plan to pay down the card as quickly as possible because interest can quickly grow.
Explore credit cards for bad credit through Hearth.
When should I use a credit card for my roofing project? You can use a credit card to finance any roofing project from repairing a few broken shingles, to fixing flashing around your chimney, to installing a new mobile home roof. If you are confident you can pay back the card quickly, then a card could be a good fit.
Otherwise, you may want to save cash unless you just can’t wait.
Like a credit card, you can borrow from a home equity line of credit as needed up to a predefined limit. However, unlike a credit card, your bank uses your home equity as collateral for your loan. In return for offering you lower rates than you’d find elsewhere, your bank can seize your home if you default on the loan.
Like home equity loans, using a secured line of credit to repair or replace your roof is tax deductible. Home equity lines of credit could be a great option if you already have one open with your bank, and if you’re confident you could make payments.
Roofing professionals may offer financing to help you afford your project.
Some companies, such as Stay Dry Roofing, use financing solutions like Hearth that let consumers compare several options to find great rates.
Other contractors may just give their customer one or two financing options. If you're going to use your contractor to find roof financing, make sure the company uses a financing partner that lets you compare across several options so you can find the best rates.
Here are five easy tips to follow for roof renovation success:
Need to fix or replace your roof but worried about your credit score? Learn about your options in this article. All hope isn't lost when the bank says no.
Read the article
See whether you have enough equity to finance your roof through Hearth's free home equity calculator. Check your equity in 60 seconds.
Check my equity
Read our definitive guide on paying for any home improvement project. We wrote the guide with input from personal finance experts.
Read the guide
Do you have to repair or replace your roof–but don't know where to begin? Learn what you need to know about roofing in our beginner's guide.
Looking to fix or replace your mobile home's roof? Read our guide to get up to speed on everything you need to know.
Read the guide
Your roofer may offer financing for your project. Learn about the pros and cons of getting financing from a roofing professional.
Read the articleHearth is a technology company, which is licensed as a broker as may be required by state law. Hearth does not accept applications for credit, does not make loans, and does not make credit decisions; this site does not constitute an offer or solicitation to lend. All insurance services are provided by Hearth Home Insurance Solutions, Inc. Hearth may be compensated by third-party advertisers. NMLS ID# 1628533 | NMLS Consumer Access.
All loan information is presented without warranty, and estimated APR and other terms are not binding. Hearth’s lending partners generally present a range of APRs (for instance, from 5% to 35.99%) with a range of terms and monthly payments. As an example, a $10,000 loan with an APR of 14.50% and a term of 36 months would have a monthly payment of $344.21. Actual APRs will depend on factors like credit score, loan amount, loan term, and credit history. Only borrowers with excellent credit will qualify for the lowest APRs. All loans are subject to credit review and approval.
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