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5 Ways To Finance A Roof Replacement

Updated: May 31, 2023

A new roof may not seem like the most exciting home improvement project to work on, but it’s still important that you ensure your home has a safe and sturdy roof over your head in case of rain or snow—not to mention the fact that replacing an old roof can increase the value of your home. Financing this big purchase can be difficult and confusing, but with the right information and some planning, financing your new roof can be quick, easy and painless. Here are five ways to finance a new roof so you can start replacing your current one today.

Person's hand holding pen analyzing data sheets with a house figurine

1. Personal Funds: Check, Debit Card, or Cash

The easiest, simpliest, and most cost-effective way to pay for a roof replacement is with personal funds. Compared to a loan, you won't have to pay interest or worry about impacting your credit score with personal funds. While paying for your roof replacement with a check, debit card, or cash is the best option, but this option is only available for homeowners with substantial assets or have saved in advance. If using personal funds is not within your means, don't worry! There are plenty of other ways to finance your roof replacement.

2. Credit Card

One of the most popular ways of financing a new roof is by using a credit card. It's not the best option, but if you have a low interest credit card or can pay off the balance in full the following month, it might work for you. Depending on the type of credit card you choose, you can receive a plethora of benefits such as cash-back or rewards points.

Personal Loan

3. Personal Loan

Personal loans are a great way to finance a new roof because they offer an easy, flexible option for homeowners. You can apply for a loan in just about any amount and the interest rates are usually quite low. Keep in mind that personal loans have higher monthly payments which might not be ideal for everyone.

4. Insurance

An insurance claim is the most difficult methods to pay for a roof replacement. A majority of homeowners insurance policies exclude normal “wear and tear” on any part of the exterior of your home and blame homeowners for lack of maintenance. If you do file a claim, the insurance adjuster is not in the roofing industry and often under estimates the cost of a roof replacement, leaving you with only a portion of the cost covered by insurance.

Going back and forth with your insurance agency can be an uphill battle. Unless your roof was obviously damaged by a tree falling on it, it is unlikely that your insurance will cover it 100% or at all. It is up to you if you want to file an insurance claim on your roof, but be prepared for it to be a significantly difficult task.

5. Finance A Roof With Us

At Gluth Brothers Roofing we understanding that many of our customers require financing to get their roof replaced, which is why we offer a variety of financing options to our residential customers. Once one of our sales technicians performs the roof inspection and gives you a roof replacement proposal, we can discuss financing options. Discover how easy it is to get your roof replaced and receive a variety of financing options, with Gluth Brothers Roofing.


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