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Acorn Finance puts you in control of financing your new roof or getting a loan for a roof replacement. Compare personalized roof replacement financing offers from lenders in our network, with no impact to your credit score. Check pre-qualified offers in seconds with our broad network of national lending partners who want to help you finance your new roof. You can easily sort the financing offers based on what’s most important to you: interest rate, payment amount, length of the loan term. Our 100% online, customer-friendly process is designed to help you find affordable payment options with lenders that can quickly get roof financing without the hassle.


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Learn More About New Roof Financing

Roof financing can help you fulfill one of the top priorities of home ownership: keeping a solid roof over your head. If you’re in need of a new roof or roof repair you will want to make sure you select a reliable company as well as a trustworthy lender. Below, we’ve compared some of the top lending options to help you make an educated decision. is a leading provider for roof loans. On approved loans, you can borrow up to $100,000 and take as long as 12 years to pay it back. Keep reading to explore the various roof financing options available for good and bad credit.

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Can You Finance a New Roof?

Yes, you can finance a new roof and it may be easier than you think to qualify. If you have good to excellent credit and equity in your home you can use a Home Equity Loan. Home Equity loans allow you to use your home as collateral and borrow against its positive equity. If you do not have equity in your home or have credit challenges you should consider a personal loan or financing options offered by the roofing or construction company. A little later on we’ll go into more detail about the various financing options available for a new roof.

Can I Finance a Roof Repair?

Yes you can finance a new roof, roof replacement, or roof repairs. Roof loans may be more popular than you think. So how do you finance a new roof? One of the best ways to finance a new roof is a personal loan. While a new roof may be expensive, it’s usually not a substantial amount of money. Personal loans can provide the funds you need quickly along with flexible repayment terms. While a secured loan such as a home equity loan may offer lower interest rates, they usually require more time investment and more risk. Home Advisor reports the national average for a new roof is about $8,198 with a typical average of $5,399 and $11,050. We will use the national average for payment estimation. If you use a personal loan to finance $8,198 and qualify for a 4.99% rate for 3 years, you can have monthly payments as low as $246. Acorn Finance can help you discover the best personal loan offers for roof financing. You can submit one application and receive multiple personalized loan offers within seconds. Once you have selected the offer you want to use, you can finalize the approval and receive funding the same or next day.

Is Metal Roof Financing Available?

Just about any roofing material and installation can be financed, including a metal roof. Metal roofs can be a fireproof, long-lasting, and durable option but they do come at a cost. In most cases, a metal roof can cost about 2-3 times as much as comparable options. However, many homeowners still prefer them because they are less susceptible to leaking, easy to maintain, and reflect the heat allowing for lower cooling costs.

Can You Secure Solar Roof Financing?

Whether you already have solar and need a new roof or you are looking to install a new roof with solar you can qualify for financing. If you are installing solar and a new roof you may want to use separate loans for each project. Solar loans typically have lower interest rates than personal loans because in most cases they are secured loans. In addition, installing solar can allow you to become eligible for rebates and tax incentives. Solar loans are designed to help consumers finance solar and take advantage of the benefits they offer. If you sell your home and your solar is not paid off, it’s usually easier to pass over the solar loan to the new buyer. If you have credit challenges you may want to consider using a personal loan for the solar panels and the new roof.

Can You Get Roof Replacement Financing?

If you just need to replace a part or parts of your roof you can still finance the repair. Since this is a smaller job than replacing an entire roof your loan amount should be less. A personal loan can be easy to secure with long repayment terms, making it ideal for roof replacement financing. It may be better to use a personal loan rather than financing with the contractor because it’s a smaller job. You may have more negotiating power using outside financing. In most cases, home equity loans are better for larger loan amounts.

Can You Finance a Roof with Bad Credit?

If you have bad credit you can still qualify for roof financing. You may be asking yourself, how or where can I get approved? Let us help simplify this for you. If you have bad credit you should use a personal loan for roof financing. While you can go online and apply with multiple lenders, it’s much easier and better for your credit to just apply once. Acorn Finance provides a secure platform that can connect you with multiple lenders that can help you. You can submit one application online and receive multiple personalized personal loan offers within seconds.

If you have credit challenges, you can qualify for a personal loan for roof financing. Most lenders have a minimum credit score requirement. You will want to be aware of what this requirement is. If you have credit challenges and do not meet a lenders basic requirements, you probably will not get approved. A large part of getting approved with credit challenges and finding favorable terms is getting connected with the right lender. Some lenders may specialize in helping borrowers with bad credit while others may specialize in helping borrowers with good credit. Acorn Finance has lending partners with minimum credit score requirements as low as 580.

How Much Does A New Roof Cost?

On average homeowners will spend about $7,680 to install a new roof. While entertaining offers and estimates you should use the ballpark of $5,000 – $10,000. It’s recommended that you should receive 3-4 estimates for your new roof or repair before selecting the company of your choice. Depending on location, size of the job, and other specifics the cost of your new roof installation or repair can vary. New roof financing options can provide an affordable solution for installing a new roof.

Does Adding a New Roof Increase Home Value?

Adding a new roof can easily increase the value of your home. It can increase the appraisal value and the perceived value. Some studies have even found that adding a new roof can return more than 100% of your investment. If your roof is not in good condition, it can make potential buyers very reluctant to purchase. Most buyers want a move-in ready home that does not need repairs. If your roof is relatively new and in good condition, adding a new roof may not increase your home value significantly. If you are unsure about replacing your roof you should consult a professional.

Can You Pay For A New Roof In Installments?

Financing a new roof can allow you to get the new roof you need while providing the flexibility to pay in installments. Most roof financing options will require a monthly payment. However, most options also offer generous loan terms and competitive interest rates.

Is Roof Damage Covered By Insurance?

Homeowners insurance can cover roof damage in some cases. Whether insurance covers roof damage or not typically depends on what caused the damage. In addition, most insurance policies have a deductible. Depending on how much your deductible is it may be more cost effective to fix your roof using a roof loan versus insurance.

How much does it cost to finance a roof?

How much it costs to finance a roof can depend on your loan amount, interest rate, and term. If you finance $7,700 at 4.99% for 6 years you should pay about $1,098 in interest. Your payment would be about $122. If you pay more than the minimum payment each month you can save a lot in interest. Increasing your payment by 20% can save you about $209 in interest for this loan example.

Financing a roof usually does increase the cost of a new roof. In most cases, you will incur interest and other fees when you finance a roof. The actual cost of a loan can be calculated once you know the interest rate, fees, and loan amount.

Do Roofing Companies Finance?

Some roofing companies may offer financing options. However, you will probably need good to excellent credit to qualify and they may charge you fees for the convenience of the service. In addition, you may have more negotiating power using outside financing.

When To Consider Roof Financing

If you need a new roof but do not have enough cash on hand to pay for the repair, you should look into roof financing. Paying a little in interest may be better than emptying out your savings account.

What Is the Best Way to Finance a Roof?

As we mentioned previously, personal loans are one of the best ways to finance a roof or roof repairs. They are relatively easy to get and all credit types can qualify. Furthermore, most personal loans are unsecured meaning they do not require collateral. In addition, the interest rate is typically fixed. This means that your monthly payment will be consistent, thus making personal loans easy to manage. However, it’s important to make sound financial decisions for your circumstances. While a personal loan may be a great fit for most homeowners, it may not be the best option for all homeowners. If you need to make significant home improvements you may want to consider using a secured loan such as a home equity loan or home equity line of credit.

How Can I Pay for My Roof With No Money?

Most personal loans do not require a down payment. However, you will be required to repay the loan monthly. Most of us are on a budget and lenders understand that. Before securing a personal loan you should select an appropriate loan amount and term to ensure the monthly payment is affordable. If you get approved for a personal loan but are concerned about being able to cover the monthly payment, you should communicate with the lender. Most lenders should be willing to work with borrowers to ensure loan payments are affordable, thus increasing the likelihood of the loan being repaid on time and in full.

Roof Financing Options

Below we’ve compared some of the most popular roof financing options to help you make a more educated decision.

Roofing/Construction CompaniesNeed help managing the cost of a new roof or a roof repair?In most cases, your construction company can help. Most companies can work with banks or lenders to provide roof financing options. Due to the volume of lending, companies can receive special rates and discounts that can be passed along to their customers. On the downside it can be harder to compare financing options when financing through a roof or construction company.

ProsSpecial financing offersAffordable paymentsFunds available quicklyAllows you more flexibilitySaves timeConsSmaller companies less likely to offer roof financingRisk of inflated pricing for materials or servicesHarder to compare options

Personal Roof Replacement LoansTaking a personal loan for a new roof or roof replacement can be an attractive option for many. Compared to a home equity loan, a personal loan allows you to only borrow the amount you need. In addition, no collateral is required in most cases. Personal loans can be a competitive options for good and bad credit types. is a reliable and top-rated company that provides personal loans for roof financing. Take advantage of affordable payment options and free services while saving tons of time.

Three steps to get secure Roof Financing with Acorn Finance:#1. Complete and submit a short loan application online

#2. Receive multiple pre-qualified offers

#3. Get connected with lenders to obtain your pre-qualified loan

ProsRoof financing available up to $100,000Competitive interest rates as low as 3.99 percentTerms up to 12 yearsReceive pre-qualified offers without impacting your credit scoreEasy to activate

ConsNot a direct lenderCredit may be required for approval

Home Equity LoansIf you have significant equity in your home you may want to consider a home equity loan for roof financing. In simplest terms a home equity loan allows you to borrow money using your home as collateral. It’s important to note that when using a home equity loan you borrow the whole approved amount rather than just the amount you need.

ProsFixed interest ratesPotential tax deductionsGood option if you have bad creditCompetitive interest ratesConsRisk losing your homeHigh feesMay borrow more than you need

Lines of CreditA personal line of credit limit typically ranges from $1,000 – $100,000 and falls somewhere between a personal loan and a credit card. In most cases you would apply for a personal line of credit through a bank or credit union.

ProsUnsecured loan (no collateral needed)Use funds however you wantQuick access to funds


Variable interest ratesUncertainty of what monthly payment will beAnnual maintenance fees can apply

Our Top Roof Loan Options

Part of finding the best roof loan is finding a lender that meets your needs. Acorn Finance has lending partners that can help all credit types secure personal loans for roof financing. You can secure personal loans up to $100,000 with rates as low as 3.99% and terms up to 12 years through Acorn Finance. In addition, their platform is free to use and can save you tons of time and hassle.

LightStreamIf you have good credit, LightStream has extremely competitive roof loan offers. As a division of SunTrust bank, LightStream takes a unique approach to online lending. To qualify for a LightStream personal loan you should have a credit score of 680 or above. LightStream customers can enjoy no fees, low interest rates and personal loans up to $100,000. Rates can vary based on the borrower, loan amount, and loan term. LightStream offers interest rates starting at just 2.49% including an autopay discount. If you are approved by another lender with a lower interest rate, LightStream will beat the rate by one-tenth of a percentage point. Of course, they’ll want evidence of the approval and terms before matching the rate. LightStream is part of the Acorn Finance family.

Best EggIf you have credit challenges, Best Egg can help you secure a personal loan for roof financing. To qualify for a Best Egg personal loan you should have a minimum credit score of 640 with interest rates starting at 5.99%. Best Egg can provide competitive loan offers for borrowers with fair credit. On the downside, Best Egg has a maximum loan amount of $50,000 and only offers a 3 and 5 year term. If you need funds same-day you may need to use another lender. In most cases, Best Egg funds loans by the next day. Most lenders that work with borrowers that have less than perfect credit charge origination fees and other fees to offset some of the risks. Best Egg charges origination fees and late fees. Reviews highlight Best Egg’s transparent offers and terms and excellent customer service. Also, Best Egg offers financial education for borrowers. Best Egg is also part of the Acorn Finance family.

UpgradeUpgrade can help individuals with a credit score of 580 or above secure a personal loan for roof financing. While their interest rates might be higher than other lenders, they can offer opportunities to borrowers that have credit challenges. Upgrade offers personal loans up to $50,000 with interest rates starting at 6.94%. When evaluating applications, Upgrade places a heavy focus on available cash flow. They are more concerned about applicants’ debt-to-income ratios than rent payments or monthly expenses that may affect an individual’s ability to repay a loan. If you experience a hardship such as a job loss, you may qualify for Upgrade’s Hardship Program. The Hardship Program can reduce your monthly payment or extend your loan term to help you get through a tough time without ruining your credit. Upgrade is another top lender that is part of the Acorn Finance family.

SoFiSoFi is comparable to Best Egg but has a slightly higher minimum credit score requirement of 680. SoFi is best for borrowers on the verge of fair and good credit. However, SoFi offers higher loan amounts than Best Egg. SoFi offers roof loans between $5,000 to $100,000 with interest rates starting at just 5.99% with autopay. In addition, SoFi is okay with borrowers that may have a short credit history. They focus primarily on how responsible you have been at paying bills on time. SoFi does not charge any fees and allows joint applications. Customers can take advantage of exclusive member benefits such as access to career coaches and financial advisers.

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Financing for Roofing Projects & Contractors

There are a variety of lenders and companies that work with contractors so that they can offer roof financing. Some of them may charge a fee to the contractor which can be passed along to the customer. As a consumer, you should ask the hard questions to make sure you are not paying more to finance with the contractor.