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Roof Financing: The Easy and Stress-Free Way (2021 Application)

Why Should You Consider Roof Replacement Financing?

🏡Your roof is one of the most important elements of your house. It protects the rest of the structure from water damage and severe weather while also providing a lot of aesthetic appeal and increasing your home’s value.

Unfortunately, getting a new roof can be very expensive. In almost every case, we’ll recommend using high-quality roofing materials and working with a professional roofing company for the best results. Buying high-end materials from Owens Corning ensures that you have a premium roof with a great warranty and an extremely long lifespan. The problem is that the upfront cost of these home improvements can hit the tens of thousands of dollars.

While homeowners insurance may pay a portion of the bill if a storm damaged your roof, there are times when you’ll have to pay for roof repairs yourself. The price gets even higher if you need an entire new roof instead of a few minor repairs.

As roofing contractors, we strongly recommend roofing repair as soon as you notice any damage. Even a loose shingle will cause a leaky roof that eventually spirals into a massive roof repair project. At that point, it’s beyond the scope of a home improvement project and will require the help of professional roofing companies and weeks of work. The sooner you fix a roof issue, the less it will cost and the smaller the job.

Many homeowners find that roof replacement costs or even a small roof repair is outside of their budget. They’ll delay giving us a call until they’ve saved up the money. By that time, the problem has probably gotten worse, and they’ll need to spend even more money on roof repair

Can You Finance A Roof Replacement?

Luckily, you don’t need to have the upfront cash to fund a roof project. There are various roof financing options that can help cover the cost of a new roof or roofing project.

Some of the aspects you should consider when deciding which roof financing option to take include:

  • How long does the approval process take?
  • Are there any obligation fees?
  • What is the maximum loan amount?
  • How much are the monthly payments, including interest payments?
  • Does the loan require collateral?
  • Is there a penalty for paying the loan off early?
  • Is it easy to arrange monthly payments via an online portal or other methods?

Once you’ve talked to your roofing company and received a quote for your new roof or repair, you can start evaluating different roof financing options and find the right one for you.

Roof Financing Options

Home Improvement Loan

A home improvement roof loan is a personal loan explicitly for home improvement projects. It can be secured or unsecured, depending on your particular needs. Like all personal loans, you’ll get a better interest rate if you offer something as collateral, but you still have the option of getting an unsecured loan if you don’t have any collateral to offer.

Home improvement loans tend to have a fixed interest rate which means that your monthly payments will remain stable for the duration of the loan. However, you can expect a steep interest rate if you have a poor credit history, and you may not get a loan with a low credit score.

Home Equity Loans

A home equity loan requires you to secure the loan with the equity of your home. Your home equity is the current value of your home minus your home loan, and the higher your home equity, the higher your home equity loan maximum.

These loans tend to have a lower interest rate than personal loans but rely on you having excellent credit. There is also a risk that you may lose your home if you fall behind on your monthly payment.

Home Equity Line Of Credit

While this sounds similar to a home equity loan, this loan actually works closer to a credit card than many other roof loan options. The HELOC provides lines of credit depending on your home equity, giving you the flexibility to draw funds when you need them.

The main drawback of this type of loan is that it has variable interest rates, which can rise quickly and substantially without warning. These loans aren’t available to individuals with low credit scores, and you can expect balloon fees at the end of the loan term.


Foundation Financing

One of the most popular ways to fund a roofing project is to work with your contractor. Many contractors, including Cervices Roofing, use a financing company to provide affordable roof loans to clients, regardless of their credit score.

Cervices Building has partnered with Foundation Finance, a privately held credit financing company for contractors. The biggest benefit of working with Foundation Finance is that you have flexible plans, including fixed-rate loans, payment options of up to ten years, and many promotional programs to save you even more money.


Unlike a personal loan, you don’t need to offer collateral or have a good credit score to qualify, and the fixed interest rates mean that you can budget accordingly.

How to Finance a Roof

Getting roof loans for your roofing project doesn’t have to be intimidating. At Cervices Roofing, we can guide you through the entire process. Foundation Financing has an easy online application form, and you’ll get the result of your application quickly.

Since the company has many flexible plans, we can also discuss each of them with you and decide which one is best for your needs. However, Cervices Roofing isn’t a financial services provider, so we also recommend that you speak to your financial advisor as well.

At Cervices Roofing, we want to provide you with the best roof possible. While the initial investment may be high, you’ll reap the rewards of high-quality materials for decades to come. The better the materials, the less you’ll have to spend on maintenance and repairs in the future, and the longer the lifespan of your roof.


To find out more about repairs or other roofing projects and how we can help you finance them, give us a call at (502) 749-ROOF today!


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