How Roof Financing Works & The 5 Top Options To Consider

How Roof Financing Works & The 5 Top Options To Consider

Life comes at you fast and hard. One minute you are idly contemplating a roof replacement for your Denver and Fort Collins-area home, the next, you are struggling to answer, “How does roof financing work?” Financing for roof replacement is straightforward when you work with a superior, local roofing contractor. 

Nobody Can

Nearly everyone suffers from a kind of imposter syndrome at some time during home ownership. You see your neighbors remodeling their homes and assume they won a lottery. The reality: almost nobody can afford to pay for typical home improvement projects upfront with cash. That applies to:

So if almost nobody can afford the cost of, for example, a complete roof replacement, how is anyone getting a new roof?

Financing. Financing for repairs or replacement in the face of extensive roof damage can take many forms and come from multiple sources:

  • Savings — cash out of your accounts
  • Credit card — an unsecured loan
  • Personal loan — from a credit union, savings & loan, or local bank
  • Home equity line of credit (HELOC)
  • Roofer financing

Many homeowners overlook that last line of access to ready cash. Your roofing contractor partners with local and national lenders to provide attractive loan terms and rates for complete roof replacement


The details on roofer financing vary from roofer to roofer and lender to lender, but generally, a reputable roofer can offer:

  • A network of lenders for the prime, near-prime, and subprime markets, depending on your credit history
  • Multiple plans that provide flexibility in terms (months or years) and rates (annual percentage rates or APR)
  • Decisions by lenders within seconds, not days or weeks
  • No prepayment penalties for paying down the loan early
  • Quick, easy applications
  • Complete confidentiality to protect your sensitive information and reputation

Some roofers are even able to help homeowners who may have overextended themselves. Perhaps you stretched your credit limits to afford the house you have just moved into, and you discover — too late — that a complete roof replacement is the only way to live in it. Good roofers can provide plans for credit-challenged applicants. 

As with nearly all major roofing projects, a loan for total roof replacement does not require you, personally, to pay for the full cost upfront. Typically — but ask your roofer for specifics — the process works like this:

  1. You or your lender pays the roofer one-third of the estimated project cost at the beginning to secure materials
  2. You or your lender pays the roofer one-third at the scheduled start date
  3. You or your lender pays the remaining third at the final inspection
  4. You begin payments to your lender within a set time after the first loan disbursement is made, usually 30 days. 

What It Buys

A loan arranged through the same roofer who will provide complete roof replacement buys a project with no surprises. It buys complete satisfaction, full funding, and even wiggle room if additional work is needed. 

The loan amount is keyed to the roofer’s estimate, which is based on:

  • An on-site inspection
  • Complete Scope of Work
  • Customer-selected price lines of materials

Most of all, the roofer-arranged financing buys the ultimate peace of mind. 

Under One Roof

Using your roofer for help with financing a roofing project simplifies your life and often saves you money, time, and problems. You keep the entire process under one roof, so everything is going through your local, reliable roofer:

  • Initial inspection
  • Estimate and Scope of Work
  • Loan application
  • Project loan
  • Full roof replacement

Especially if you may struggle to acquire financing elsewhere — for whatever reasons — having your roofer as a partner in the loan process can benefit you. Your roofer is a dynamic company, with many projects constantly cycling through, so money is moving at a far greater rate and amount than just your one roof. Financing companies can provide attractive terms to you, the client, to be part of that roofer’s ongoing business. 

Getting Started

Most roofing contractors with financing networks offer applications right through their offices. A simple call to your roofer can direct you to the right starting point for arranging financing. Often, the same roofer’s representative who inspects your home to determine the extent of roof damage can help you with an online application during the same appointment. And remember, if one lender cannot help, another is usually waiting in the wings to assist you!

If you have a house in the Denver and Fort Collins area, Red Diamond Roofing stands ready to go to work for you! Contact us today to see how we can provide excellent financing for your roofing project and the finest in complete roofing services.

Posted in Residential
Contact Us