Leaking Roof and/or Damaged During the Storm? Contact Us For Free Drone and Manual Inspections

How Do You Afford a New Roof?

How Do You Afford a New Roof?

It could be one of the worst days of your life: after a storm or accident, you may need to replace your roof. How are you going to afford a new roof?

It’s a significant expense that should last 20+ years, so it’s an important investment for your home. A replacement isn’t usually optional, either, so to prevent further damage to your home, you’ll need to move forward in a timely manner. What do you do?

We understand the stress and fear that can surround a major renovation project for your home, such as a roof replacement. We work hard to provide affordable and trustworthy solutions, but we know that financing can still be a major issue for most homeowners. Here are some of the best options for paying for roofing. 

5 Ways to Pay for a New Roof

Depending on your financial situation, some of these options may not be available or the best choice for you. For some, a combination of these methods might provide relief from the financial burden of a new roof. Read ahead and see what will work for you. 


  1. Insurance.

    Most homeowners insurance plans will cover roof repair or replacement, at least partially. The amount of coverage will be contingent upon the reason for repair or replacement, such as disaster or general aging. Call your insurance first to see what you can expect from their end. 

  2. Government Loans

    . The FHA Title I program allows for reasonable financing of home repairs and improvements according to need. HUD and mortgage insurance programs can also ease the cost of financing for major home projects. 

  3. Roofer Payment Plans.

    Most trustworthy roofers will offer competitive payment plans and financing to help you mitigate the cost of replacement or repairs. Ask around to see which companies offer the most favorable payment plans. 

  4. Home Equity Loan.

    If you’ve built equity on your home, you should be able to borrow up to 85% of your existing equity in a home equity loan. Risk can be high with these types of loans, so be sure you don’t borrow too much and always stay on top of your payments. 

  5. Personal Loan.

    Most individuals are able to get a personal loan from a financial institution up to $100,000. Your terms and conditions will be determined by your credit history. Generally, a credit union can offer the best rates, but you’ll want to check with your banking partner and other options. 

Start with an estimate for your roof repair or replacement so that you know what you’ll need to borrow. Next, go to your insurance for partial or full coverage payments. Finally, check with the roofer to see what payment plans are available—you may be able to replace your roof without borrowing anything. 

Affordable Roof Replacement with We Do Roofing

When you’re facing an expensive and daunting roof project—call us first. We Do Roofing can offer free consultations and estimates to help you make informed decisions, and we’ll work with you so that you can afford a new roof. We serve Salt Lake City, Utah, and the surrounding areas.