Whether you need to repair, upgrade or just replace your roof completely, it is important to figure out how you will finance and get the funds together to cover the costs. This could feel daunting, but the good news is that there are several options available when it comes to paying for your roof. The rates and terms of these options might vary, and there are many factors that go into it such as budget, credit, personal preference, and income, but you should consider looking into it.


The cheapest way to finance your roof is to pay for it with cash. Since you don’t have to take out a loan, you are not required to have good credit or have to get approved for anything. You also will not have to pay any interest costs. Unfortunately, this will only work if you have the cash saved up upfront. On average, it might cost up to $800 to get your roof repaired but even half or a complete roof replacement will cost you thousands. This option will only work best for you if you do not already have plans for that money. You should not put an emergency fund to your roof replacement in any situation. However, if you have enough cash for financing your roof, then it is your best bet.

Personal loans

Some lenders may come with restrictions, but you can typically get a personal loan for almost any expense, including your roof. There are some lenders who even specialize in personal loans for anyone who has bad credit, although it will come at high-interest rates. The average interest rate for a two-year personal loan is about 10%. If you have good credit, you might be able to get even lower than that. With that credit, though, some lenders might charge up to 30% or even higher for worst case scenarios. Personal loans have set repayment plans, unlike credit cards but you can typically get the funds within one week or maybe even as early as the same day.

Credit card

Paying the cost of a roof repair or complete replacement on a credit card may sound like a terrible idea, but if you can qualify for a credit card that offers 0% APR promotion. You could pay off your roof cost interest-free. It is important to note that you do need to have excellent credit in order to get approved for 0% APR credit cards. There also is no guarantee that your credit limit on the new card will be enough to cover the cost of your roof. Basically, this option works for those who can qualify for the credit card and may have other options in order to make up the difference of the credit cards limit if it is too low.

Home equity loans

A home equity loan is a great alternative for homeowners who have significant equity in their homes. Because it’s a secured loan, your home will act as collateral and you will be able to qualify for lower interest rates even if you have bad credit. You may also be able to deduct the interest you paid from your taxable income if you are able to prove that fixing your roof will improve the home substantially. If you default on the loan, you could end up losing your home, which is a huge price to pay. Some lenders may charge high fees in order to process the loan so if you do decide to choose this option, you should consider shopping around a bit first. HCS Restoration provides roofing repair & restoration services in Kansas, get in touch with us today to see how we can help.

Get A Free Quote