Freeman Exteriors

Is Roof Repair Financing Right for You?


On average, roofs in America are designed to last about 30 years. That means that most homeowners only ever get to replace their roofs once or twice in their lifetimes. 

But while you may not need to worry about spending thousands of dollars on a new roof every ten or so years, you’ll still need to invest in ongoing roof repairs and maintenance. 

An unexpected roof issue, such as a roof leak, a missing shingle, or a damaged gutter, needs to be promptly addressed. One way to meet the cost of these issues is through roof repair financing. 

In today’s post, we look at the benefits of roof repair financing, as well as what options homeowners have when it comes to financing their roof repair cost.

Why Should You Consider Roof Repair Financing?

There are many reasons roof repair financing makes sense for homeowners today, especially during times of financial strain. Here are some of them:

You Don’t Have to Spend Your Savings

Paying for roof repairs in cash is great when you have enough money laying around for that purpose. But not many homeowners do. In fact, 40 percent of Americans don’t have $400 in the bank to cover emergencies.

One of the benefits of roof repair financing is that you don’t need to worry about blowing your savings on fixing an urgent issue. You get the money you need for the project and repay it in manageable installments. 

You Don’t Need to Put Off Roof Repairs

One of the reasons people delay much-needed roof repair is that they can’t afford roof repair payments. You have a family to feed and bills to pay, and fixing the roof seems like something that can wait.

But putting off roof repair only makes things worse. For instance, a leaky roof can contribute to water damage, besides making your indoors uncomfortable to stay in. Roof financing helps you get the professional help you need to sort roof problems right away.

Financing Can Help Boost Your Credit Score

The importance of a strong credit score cannot be overemphasized. Most lenders pull your credit report when determining whether to loan you money or not. Interesting, opting to finance a roof repair through a loan can help you build your credit score.


Well, the idea is to make your monthly payments on time once you’ve received the financing. This way, you give lenders the impression that you are a disciplined and responsible borrower.

Options When Financing Roof Repairs

Now that you’ve seen the benefits of roof repair financing, it’s time to look at some of the options homeowners have when it comes to paying for roof repair. Here are four of them.

Personal Loan

Many homeowners opt for personal loans to pay for a variety of expenses, including roof repair. The vast majority of lenders have no restrictions regarding how to use the money they loan you as a personal loan. Some lenders even offer bad credit personal loans, albeit at higher interest rates.

If you opt to pay off your roof repair costs using a personal loan, shop around first to find a lender with the most competitive loan terms and rates. Most lenders provide the funds you need as early as the day of approval. This is beneficial when you’re looking to do roof repair urgently.

Typically, you’ll need to make monthly payments for a set period of time once you secure a personal loan.

Home Equity Loan

Another popular option homeowners use when financing roof repairs is through home equity loans. This option is ideal if you’ve built significant equity in your home.  

With a home equity loan, you leverage the value of your home to get a line of credit that doesn’t have a high-interest rate. It’s a secured loan where your home is the collateral. Thus, even homeowners with bad credit can qualify for this type of financing. 

Home equity loans are especially desirable to established homeowners looking to avoid the higher interest rates that come with other types of loans, such as personal loans.

Of course, the challenge with a home equity loan is that you may lose your home if you fail to make the required payments.

Credit Card

When you need to get roof repairs done quickly and simply, you can opt to pay for the job using your credit card. A credit card affords you easy access to a line of credit, and it’s a lot more convenient than a conventional loan.

For some owners, paying for the full cost of a major roof repair can seem like a bad call. However, if your credit card has a 0% APR offer for a certain period, you may be able to pay for roof repair costs interest-free.

Be sure to check your credit card’s interest rate before using it to pay for roof repairs. Most credit card companies charge high-interest rates, especially for people with poor credit scores.

Always be sure you can consistently cover monthly payments. You also want to confirm whether the credit limit can cover roof repair costs. If not, you’ll need to find additional funds to cover the deficit.

Make the Right Decisions when Financing Roof Repairs

Roof problems are bound to happen, sometimes unexpectedly. Unfortunately, you don’t always have cash set aside to address these problems as quickly as possible. Thankfully, there are roof repair financing options available to help you find the professional help you need.

Are you interested in reliable roof repair services? Please contact Freeman Exteriors to get a roofing estimate today.

Jake Freeman

Jake Freeman

Freeman Exteriors is a family owned and operated general contracting company. We specialize in roofing and commercial renovations. We serve Champaign County, Vermilion County, including Champaign, Danville, Paris, IL and Crawfordsville, Covington, West Lafayette, IN and surrounding areas. Our goal is to be the general contractor of choice through our pledge to maintain the highest quality of standards and workmanship. Give us a call today to begin your next project!

Our Service Areas

Champaign, IL

1502 Airport Rd.
Urbana, Illinois 61802

Lafayette, IN

2529 Schuyler Ave, Suite 200
Lafayette, IN 47905

Danville, IL

200 West Williams
Danville, Illinois 61832

Paris, IL

802 Clinton Road
Paris, Illinois 61944

Crawfordsville, IN

210 Waynetown Road
Crawfordsville, Indiana 47933

Covington, IN

105 Fairway Drive
Covington, Indiana 47932

West Lafayette, IN

1048B Sagamore Pkwy W
West Lafayette, Indiana 47906

Fishers, IN

11807 Allisonville Rd
Suite 596
Fishers, IN 46038

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