Putting off a failing roof to avoid the bill is the most expensive choice of all — a small leak becomes rotted decking, ruined insulation, and mould, turning a $12,000 job into a $20,000 one. The smarter move is to figure out the number, then pick the financing that costs you least.
6 ways to pay for a new roof
1. Home equity loan or HELOC
Usually the cheapest option if you have equity. Lower rates because it's secured by your home, and interest may be tax-deductible when used for home improvement. Downside: your house is collateral, and closing can take a few weeks.
2. Cash-out refinance
Replace your mortgage with a bigger one and take the difference as cash. Makes sense only if today's rates are near your current rate — otherwise you're repricing your whole mortgage to fund a roof.
3. Personal loan
Fast and unsecured — funds in days, no lien on your home. Rates are higher than home equity, but for a quick turnaround on a $10k–$20k roof it's popular. Best for strong credit.
4. Contractor / manufacturer financing
Many roofers offer financing at the point of sale, sometimes with 0% promotional periods. Convenient, but read the terms — deferred-interest plans can backfire if you don't clear the balance in the promo window.
5. FHA Title I / 203(k) loans
Government-backed loans for home improvements, including roofs. Useful if you have limited equity, with more paperwork in exchange for accessible terms.
6. Insurance (if it's storm damage)
Don't finance what insurance should cover. If a storm caused the damage, a claim may pay most of the bill — see the insurance guide.
Quick comparison
| Option | Typical speed | Cost | Best for |
|---|---|---|---|
| Home equity / HELOC | 2–4 weeks | $ (lowest) | Have equity, want lowest rate |
| Cash-out refi | 3–6 weeks | $$ | Rates near your current mortgage |
| Personal loan | 1–5 days | $$$ | Speed, no collateral |
| Contractor financing | Same day | $$–$$$ | Convenience, 0% promos |
| FHA 203(k) | Weeks | $$ | Limited equity |
RoofReplaced.com isn't a lender — we help you size the job so you can choose financing with eyes open. Always compare offers and read the terms.