How To Get Roof Financing For Bad Credit – Complete Guideline

Did you know that the roof is one of the most important parts of your house? This is because it normally protects your valuables from damage due to harsh weather elements such as rain, excess sun, and even snow. As a result, roofing services are quite expensive. Also, you have to ensure that your roof is in good condition all the time. There are instances when your roof might get damaged due to storms. Other times, a tree might fall on your roof and damage it forcing you to repair it. Repairing the roof needs you to set a budget for it. If you do not have liquid cash with you, you might consider other roof financing options. This article will outline the various roof financing options you can consider even when you have bad credit.

Options to Consider If I Can’t Afford a New Roof?

It is no brainer, roof replacement is capital intensive. You have to set a budget for it depending on the type of roof you want. Sometimes, you might not have all the monies to cater for all the expenses. Here are the options you can consider if you cannot afford a new roof:

1. Finance Repair Costs

Sometimes, finding the much-needed cash to pay for roof repair upfront can be an uphill task. However, there are several financing options for bad credit that you can consider in order to pay for the cost of roof repair in your home. One of these options that you can consider is getting a credit card.

Even if you get a temporary one, you can be sure that you will be able to repair your roof in time and pay off the charges involved. Better still, you can consider taking a personal loan where you can be paying monthly payments. Such roof financing options have actually worked well for many homeowners out there.

2. Apply for a Grant

As we speak, there are many home improvement grants that are available from the local and federal governments. A good example of this grant is the Weatherization Assistance Program. In addition, there is the Section 504 Home Repair program that offers much-needed financial assistance. With these programs, you will be able to improve and even make repairs in your home, such as roof repair, to upgrade your home. The good news is that these grants’ interest rates are very low, thereby making this option ideal for many homeowners.

However, it is important to note that these programs normally apply to disabled people, low or moderate-income homeowners, and the elderly. If you belong to this category, you can apply for them and you will be good to go.

3. Reach out to Your Network

Although you can carry out some of the home renovations on your own, roof repair can be dangerous when it is not handled by a professional. From doing it wrongly, getting an accident during the entire roof repair exercise, there are many problems you can experience if you choose to it on your own.

To avert these problems, you should consider looking for a rood repair professional on social media platforms such as Facebook. Some of the experts are well trained on how to handle minor and major roof repairs. If you have a larger network, you can be sure that you will have a larger pool of professionals to choose from.

4. Refinance Your Home

Nowadays, you can consider taking a home improvement loan in order to finance home improvement projects such as roof repair or roof replacement. A good example is the FHA 203K Refinance Loan.

However, before you take this loan, you should get advice about refinancing since there are financial implications that come with it. More importantly, consider taking a loan that has a low-interest rate and friendly loan terms.

5. Save the Money

If all the above-mentioned options are not viable to you, you can consider saving your money and carry out roof repair at a later date. To achieve this, you can review your budget and see where you need to make amendments. For instance, you can cut on entertainment and save more in the long run.

What Kind of Payment Methods Available For Your New Roof Project

When it comes to payment methods for your new roof project, there is a myriad of options that you can consider. However, each option comes with its own advantages and disadvantages. Basically, you just have to weigh each of these options and choose the one that suits your needs. The payment methods include:

1. Cash or Check

If you have all the monies needed to pay for a new roof, you can consider paying it upfront in cash. This is actually one of the easiest methods you can consider. Besides this, it is generally simple as there is no complicated paperwork involved in the whole undertaking. All you need to do is to make a deposit and then pay the rest of the money once the roof has been installed in your house.

2. Credit Card

Besides paying cash, you can also pay for a new roof using your credit card. This method is ideal if your card has generous rewards and incentives. In fact, if you will be able to get cash-back bonus, you will be good to go. For optimal results, you can consider using a credit card that offers 0% interest over a period of say, one year.

The card will cater for all the expenses incurred and you will make payments later long after the project has been completed. It is important that you avoid using credit cards that attract higher interest rates as you might have to spend more money in the future.

3. Personal Loan

Nowadays, you can take a personal loan to finance the roof project in your home. The good news is that there are any financial institutions that can help you get this loan. From the Bank of America to Wells Fargo, there are many financial institutions to choose from.

As you purpose to take a personal loan to finance the roofing project in your home, you should pay attention to the interest charged. This is because different lenders charge different interest rates. Also, the loan length matters. For optimal results, you should choose a lender who offers a relatively low interest rate and allows you to repay the loan over a longer period of time.

4. Home Equity Loan

To start with, a home equity loan basically refers to a loan for a fixed amount of money that is secured by your home. In most instances, these loans are generally repaid the same way you normally pay your mortgage, where you are supposed to pay a fixed amount of money for a certain period of time.

If you already have equity built up on your home, this option is ideal for you. More importantly, this method of payment makes sense if you are looking for a non-variable and predictable payment schedule. Here, interest rates tend to be lower compared to personal loans. Also, these loans are offered through a roofing company.

To calculate your available equity you should first get the current value for your home and then subtract the amount you will still owe on your mortgage. Thereafter, multiply the difference by 0.85.It is important to note that you can only borrow 85% of your available home equity by law.

5. Insurance Coverage

Most people now insure their homes against perils such as storms, water damage, and fire and so on. If the insurance covers even the roofing system of your home, you can be sure that you will get the much-needed compensation to get a new roof.

For instance, if a tree falls on your house, the roof is likely to be damaged and this warrants compensation from the insurance company. However, there are several bottlenecks involved in the whole undertaking as the insurance company has to ascertain that indeed your claim is legitimate or not.

6. Roof Company Financing

If you do not have adequate cash to buy a new roof for your home or any home equity available to spend, you can consider choosing a contract that offers the much-needed financing themselves. As we speak, there are roofing companies that offer financing through them or through a 3rdparty.

Compared to personal loans and home equity, you will note that this process is simpler and more straightforward as most of the steps are normally done in-house. Besides this, the same company that will do roof financing for you will also help you install the new roof for you. As a result, you are likely to enjoy a lot of conveniences.

5 Best Finance Companies Who Financing for Roof With Bad Credit

With roofing charges on the rise, getting financial aid to construct your roof or to repair your roof is a choice that most people find suitable nowadays. It is with respect to this case that the numbers of roofing lenders have increased. On the above list, we are going to recommend five roof financing companies that will definitely satisfy you without necessarily focusing on your credit score. The companies are highlighted below.

1. Avant

If you have been perturbing over get roof financing due to a poor credit score, worry out because this company will definitely live you sorted. First of all, irrespective of whether you have a bad credit score or not, it doesn’t limit you from getting a loan. Normally, their loans start from 2000$ and are capped at 35000$, which is actually a quite substantial amount for an online lender. In case you need rapid funding to go about your roofing, Avant can disburse the funds to your account in less than 24 hours.

In addition to that, Avant offers loans to people with a minimum credit score of 580. On the downside, its APR rates are quite high. Actually, they range from 9.95℅ to 35.99%. Also, you must note that Avant does not allow for joint borrowers on a single loan. If you are getting a loan from Avant, note that you will be charged an administration fee of up to 4.75% from your loan amount. Therefore, this means that if for instance you are seeking a loan worth 3000$, then you will receive 2857.5$. A 25$ fee is also charged in case you have delayed your payments. If you are less than 18 years, Avant will definitely decline to render you the loan. And, in case you fail to have adequate funds in your account, you will be charged a penalty worth 15$. Application for the loan is usually done online.

To apply for a loan from Avant you will need to provide following information:

  • Proof of our monthly income.
  • Personal information e.g your social security number, your phone number e.t.c.
  • The reason as to why you are seeking the loan.
  • Your credit score.
  • The amount of money you want.
  • Your monthly housing payments.


  • You must be of 18yrs and above.
  • You must have a valid identification.
  • Your bank account should accept ACH transfers.

Application process

  • Submit an application form
  • Wait for approval.
  • After approval, its online calculator will display a chart with various options and also your monthly payment installments.
  • Make your preferable choice.

The benefits of financing

  • It offers its users with high loan amounts of up to 35000$.
  • It allows its users to see their payment data as well as other upcoming payments.

2. OneMain Financial

This is yet another roof financing company designed to cater of people with both bad and fair credit scores. Even so, there are still some individuals who might not qualify for these unsecured loans since the application process is a bit stringent. However, in case you fail to qualify for this unsecured personal loan, you can still get a secured loan provided that you have collateral. On top of that, One Main Financial offers users with loans starting from 15000$ all the way to 20000$. However, the amount of money they will give you will depend on a couple of factors such as your monthly income. As if not enough, the company does not quite the minimum credit score required for you to get a loan from them. The monthly payment installments plan revolves around 24, 36, 48 or 60 months. Monthly payment options cannot exceed 60 months; it has to be either 60 months or less. Also, their annual percentage rates are quite high starting from 18% – 35.99%. 

The application process is usually done online and it takes a matter of seconds before you are approved. The loans however vary depending on the state. Once you are approved, you will be required to pay a fee worth exactly 3.5% of your borrowing fee. Penalties are also placed as a result of late payments. Note that these penalties are not fixed but vary depending on your state. You must also note that once you are approved for a loan , you are required to go to one of their branches for an interview. This is so that they can verify your identity and the information you have provided for them. Unlike other financiers, One Main Financial allows for joint applications, whereby you apply for a single loan together with someone else.

To apply:

  • Fill an application form with all relevant personal information.
  • Wait for approval
  • Get an in- person appointment for the interview.
  • Get the desired loan amount.

Required information:

  • Proof of identity.
  • Proof of your employment status.

Benefits of financing include.

  • Allows you to get a loan irrespective of your credit score.
  •  It allows for joint loan application.
  •  You can use collateral to get a loan. 

3. NetCredit

Seeking roof financing aid with bad credit can put you in quite compromising situations with money lenders. When compared to the first two financiers mentioned above, this company exhibits quite stringent regulations. To begin with, the above online lender offers lesser amounts. To be more specific, they offer loans starting from 1000$ to 10000$. This loan requires you to pay an original fee worth 5 percent of your loan amount. Besides that, their annual percentage rates are way high compared to the other financiers in their caliber. As a matter of fact, their APR ranges from 34% to 155%. The application is usually made online of which their approval status is provided on the same day they have applied.

 However, in cases the lender requires additional data; the approval can take up to 72 hours. Penalties are also charged in case you fail to comply with the provided terms. For instance in case of late payment, you will be charged with the amount depending on which state you are in. after approval, the funds will be disbursed into your account within 24 hours. The loan repayment plans range between 42 weeks and 60 months. Once you are approved they give you a loan offer inclusive of the amount of monthly installments to be paid.

To apply, you will require providing the following information:

  • Your personal information such as your date of birth and email address.
  • The address to your home.
  • The reason for borrowing the loan
  • Whether you own or rent your home
  • Your current employment status.
  • Bank account number.

The benefits of financing:

  • Even though you have a poor credit score you still get a loan
  • Their loan terms are customizable.

Application process

  • Fill and submit your application form
  • Wait for approval
  • After approval, your funds will be deposited on your checking account within the next business day.

4. PACE financing

Pace financing is another very viable roof financing option to seek in case you want to get a loan with a bad credit history. They offer loans starting from 2500$ and don’t charge any upfront costs. Amazingly, they provide users with longer loan repayment periods. As a matter of fact, these periods flex all the way to thirty years. Also, in case you are not certain of your future financial status, you can bring in some collateral Incas you want to secure a loan with them. They also have fixed annual percentage rates regardless of your home state. The application can be done online through your phone. 

To apply, you should provide the following information.

  • Your personal information.
  • Proof of no bankruptcy through the previous five years
  • Proof that you are owner of the property
  • Your employment status
  • Proof of good record of property tax payment.


  • Apply online and fill all the required information
  • Sign your document virtually.
  • Wait for approval.
  • Your contractor will be given a go ahead to start the work.
  • Payments will be made directly to your contractor.

 The benefits of financing

  • Even with a bad credit score you can still get a loan.
  • Provides users with long loam repayment periods of up to 30 months.

5. Upstart Finance

With loans ranging between 1000$ and 50000, upstart roof financing allows you to get loans irrespective of your credit score. On top of that, they don’t have a repayment penalty. This basically means you can pay all you loan or part of your loan at any given time at a zero fee. Also, the company provides users with very amiable rates with as low minimum FICO score of 580. Additionally, all these loans are very available and affordable across all the 50 states.

Besides that, they also give users rapid funding. This means that within 24 hours, the company will have disbursed funds into your account. Furthermore, users can still change monthly payment date as many times as they want. For instance in case your loan is due on 20th, you can move your payment to 25th. As if not enough, this financier gives borrowers the choice to pay their loans via different options such as mailed checks.

Required information

  • Your email account.
  • Proof that you are above 18 years
  • A bank account with a routing number
  • Proof of full time job
  • Your employment status.
  • An US based residential street address.


  • Fill an application form online.
  • Submit and wait for approval
  • Get relevant information like interest rate, potential loan. This information should help you decide if you want to proceed with the application.
  • Accept your loan offer.
  • Get your loan funding within one day.

The benefits of financing:

  • In case you have a bad credit score they accept your FICO score to give you a loan.
  • They allow rapid funding

What Qualities Should You Seek in a Roof Financing Provider?

When looking for a roof financial provider, there are many qualities that you should not overlook. After all, you want to get some of the top industry providers with vast years of experience and who will enable you to get the much-needed financing fast. Some of these qualities include:

1. A swift response and fast approvals

Sometimes, your roof might need urgent repair and yet, you do not have the much-needed financing to cater for the whole project. In this case, you might think of approaching your roof financial provider so that you can get all the monies you need.

If you have to wait for a response for a couple of days, the problem might get worse. Ideally, your roof financial provider of choice should be easily accessible on phone or email. Also, the provider should approve your loan fast so that your roof can be repaired or replaced promptly.

2. Consideration of your budget

Your budget also matters whenever you are looking for a roof financial provider. This is because your budget and your current financial situation will influence the plan that this provider will offer youth is important that you be honest about your budget so that you can get the best plan that will not inconvenience you in the future.

3. Reasonable rates and low or no fees

Your roof financial provider should come with plan that has reasonable rates. This way, you will be able to repay the loan in the future with minimal or no hassle at all. For optimal results, you should consider working with top tier roofing companies. Such companies are known to work with the nation’s leading institutions. Their rates are known to be more competitive compared to their peers.

4. A variety of financing plans (long term and monthly payments)

If you can access several plans at a time, the better for you. This way, you will be able to enjoy the flexibility that comes with it as you finalize your roof replacement project. Ideally, you should consider a provider who offers multiple financing plans that are long-term in nature. Also, pocket-friendly monthly payments will go long way in ensuring that you get value for money.

5. Compare financing options

You should compare the different financing options offered by the roof financing providers out there and choose the one that works well for you. From the interest rate to the period of repayment and the amount you should pay on a monthly basis, there are many considerations that you should make. If you are rational enough, you can be sure that you will get a good deal.

6. Collaboration with insurance providers

Working with insurance companies on your own might be tedious. However, if your roof financial provider of choice can collaborate with the insurance so that you can get reimbursed, the more the convenience.

Here, the roofing company will work with you in order to process your insurance paperwork. Since they have a wide range of insurance industry contacts, you can be sure that the whole process of compensation will be seamless.

Can I Get Others Benefits Working With a Roof Financing Company?

Yes. By the virtue of working with a roof financing company, you stand to enjoy a number of benefits. These benefits include:

1. Roof Repair & Replacement Financing Options

This company will offer a number of roof repair and replacement financing options that will enable you replace or repair your roof with ease. Here, they will repair or replace the roof for you, and later allow you to make flexible and affordable monthly payments. Once you make an application for roof financing with this company, it will only take the least possible time for you to get the much-needed roof financing.

2. Private Loans

Here, you will have an opportunity to get a private loan to replace or repair your roof. The good news is that there are no hidden fees from such loan and the payment plan is normally very flexible and long term. This way you will be able to service the loan you obtained, more seamlessly.

3. Bad Credit

Even if you have bad credit, you can be sure that you will get the much-needed financing to replace or repair your roof. This has actually worked well for many homeowners who have had credit score issues in the past.

How to Get Free Roof for Your House

From hail, storms to weathering there are many factors that can destroy the roof of your home. When it comes to roof repair, you might have to incur a huge expense, depending on the extent of damage caused. If you are an average citizen, you might get inconvenienced. However, the good news is that you can get a free roof for your house. Here are various ways you can achieve this objective:

1. Homeowners Insurance

If you had already insured your home and the roof get damaged, you might get a new roof. However, this is after the insurance company has verified that you genuinely need a new roof for your home. Since you have always been paying regular monthly premiums; you will be able to get a new roof for free.

2. Free Inspections

You can also look online for roofing companies that offer free roof inspections. The good news is that this whole undertaking is normally free. Once you hire the roofing contractor, you should ensure that they take photos of the roof indicating what caused the roof damage.

Your roofing contractor will be able to tell you if your roof is damaged and if it should be replaced or not. If the roof is damaged, you can contact homeowner’s insurance company and file a claim for your roof. Thereafter you stand to get a new roof if your claim is verified by the insurance company.

3. Free Repair Programs

As we speak, there are free repair programs from the government that can guarantee you a new roof if at all yours has been damaged. However, you have to qualify for these programs in order to enjoy this privilege. Some of these programs include Weatherization Assistance Program, the Tribal Energy Program among others.

FAQs – Frequently Asked Questions

I am on a fixed income, are there payment plans for me?

Yes. Even when you are on a fixed plan, you can readily get a payment plan that will not strain your budget. All you need to do is to open up to the roof financial provider about your issue so that he or she can craft a plan that best suits you.

If I am self-employed can I finance my home improvement project?

Yes. If you can manage to save some money, you will be able to have the much needed capital to finance your home improvement project. This strategy works well, especially if you have mastered the art of financial discipline.

If I want to finance for a family member, is it possible?

Yes. You can go ahead and finance a family member. After all, if you believe that he or she will repay you according to how you both agreed, well and good. Here, the interest will stay in the family instead of going to the bank.

I am unsure what financing option is right for me, what should i do?

If you are uncertain about the financing option you should consider, you should see a financial advisor so that he or she can guide you. Better still, someone whom you trust so that he or she can offer some insights to you. This way, you will be able to an informed decision. 

If I don’t want to pay interest, is there a loan for me?

Yes. You can consider peer lending. Here you can borrow your friend a loan with a promise to repay it at a later date. In most cases, these loans rarely attract interest and are better compared to the loans offered by the bank.

Final Thoughts

Roof repair and replacement should no longer stress you. With a number of financing options such as the ones we have mentioned above, you just need to choose the one that suits you regardless of the cost involved. More importantly, you can still get the much-needed roof financing even if you have bad credit. Consider the above-mentioned roof financing options today and you will be able to give your roof a new look.