{"id":1045092,"date":"2024-09-24T17:10:39","date_gmt":"2024-09-24T21:10:39","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1045092"},"modified":"2026-01-16T17:37:47","modified_gmt":"2026-01-16T22:37:47","slug":"roof-financing","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/roof-financing","title":{"rendered":"Roof financing costs and options"},"content":{"rendered":"

Repairing or replacing your roof is a major home improvement expense and may set you back around $10,000 or more. You can save up for the cost of the roof or your home insurance deductible. But if you need it done sooner rather than later, consider roof financing options like a personal loan, home equity loan or contractor financing.<\/p>

How much does roof financing cost?<\/h3>

The average cost of a roof is around $10,000, according to statistics compiled by Angi. However, the exact cost depends on the home\u2019s size, the type of roofing materials used, the complexity of the roof, your geographic location and other factors.<\/p>

On average, expect to pay roughly between $4 to $11 per square foot for a standard asphalt roof. For example, a 2,000-square-foot home might cost between $9,000 and $24,000, whereas a 1,200-square-foot house could range from $6,000 to $14,000. Also, consider that costs may vary wildly based on where you live\u2014expect to pay a lot more for a new roof in Toronto or Vancouver than you would for a comparably sized roof in rural Saskatchewan.<\/p>

Calculate your loan costs for a roof<\/h4>

How much your loan costs depends on the type of loan you get, how much you finance and your eligibility criteria. Fees and interest also vary by lender. But, you can play around with loan terms, rates and loan sizes to get an idea of how much your loan might cost.<\/p>

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Loan repayment calculator<\/h3>\n\t\tSee how much you'll pay <\/span>\n\t<\/div>\n\t<\/div>\n\t
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Fill out the form and click on \u201cCalculate\u201d to see your\n\t\t\t\t\t\t\t\t\t\t\testimated monthly payment.<\/strong>\n\t\t\t\t\t\t\t\t\t<\/h4>\n\t\t\t\t

or<\/p>\n\t\t\t\tCompare personal loans now<\/a>\n\t\t\t<\/div>\n\t\t\t

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Roof financing options<\/h3>

There are multiple home improvement loan options to fund a roof. The way you go depends on whether you need a roof repair or a roof replacement.<\/p>

Personal loans<\/h4>

A personal loan for home improvements might be a solid option if you need fast funding, prefer an unsecured loan and have a good credit score. Personal loans typically range from $500 to $50,000\u2014or even as high as $100,000\u2014and rates range from 6.99% and 35%. Exact loan terms may vary by lender but usually range from 3 \u2013 60 months.<\/p>

Many personal loan lenders<\/a> require a minimum credit score of at least 660, but you\u2019ll likely need a score over 700 to qualify for the best rates.<\/p>

Pros<\/h4>
  • Fast funding<\/li>
  • Lower rates than credit cards<\/li>
  • Usually no collateral required<\/li><\/ul><\/div>

    Cons<\/h4>
    • Lowest rates for good to excellent credit<\/li>
    • May charge origination fees<\/li>
    • No tax benefits<\/li><\/ul><\/div><\/div>

      Compare personal loans for roof financing<\/h4>
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