Pros and Cons of Financing Your Roof

Roof Financing

Roofing is a significant investment, so it makes sense that financing a roof is a big decision. Whether you’re debating financing the roof on your home or business, there are always pros and cons, and it’s important to make an informed decision when you sign on the dotted line. 

Roof Financing: What You Should Know 

Financing itself is pretty straightforward — you borrow a sum of money ahead of time to pay for something, and then you pay that money back over time following the terms and conditions. Within financing, however, there are options. These include:


Unsecured (or personal) loans and secured loans are two loan types that may be available when financing your roof. An unsecured loan doesn’t rely on collateral, but often has higher interest rates when compared to a secured loan that does rely on collateral and offers lower interest rates as a result. 

Credit Cards

For roof work that’s less than $15,000, credit cards may be a feasible financing option, and you can pay it off just like any other credit card purchase. In some instances, you may be able to benefit from zero-interest payment plans (ask your financial institution!). 

Company Financing

Roofers know better than anyone how expensive roof work can be, and you may be able to work out a financing option directly with your roofing company. Not all roofers provide this, however, so it’s always a good idea to ask about financing when you’re collecting estimates. 

Whatever your reasons for financing, you’re probably weighing the pros and cons as you work to come to a decision about it, and you may be thinking about the advantages and disadvantages of doing so. While your final decision will ultimately rest on your individual situation and circumstances, here are a few key pros and cons to think about: 

The Pros of Financing

  • Don’t have to put it off because you’ll have the money available
  • Keep savings intact for other potential emergencies
  • Being done with the roof work and able to move on 
  • Quick money that’s there when you need it most
  • Potential to improve your credit score
  • Smaller monthly bills you can afford 

The Cons of Financing 

  • Remaining in debt and feeling stressed about paying it off, on time 
  • Having to constantly think about the roof you’re still paying off 
  • Interest rates that make you pay more in the end 
  • Potential to negatively impact your credit score
  • Additional fees tacked on if not paid on time 
  • Waiting to get approval 

Businesses may even be eligible for additional benefits, like tax deductions. When it comes down to it, though, as long as you can confidently and comfortably pay your portion every month, roof financing is a reasonable move for both homeowners and business owners. 

Need Roof Financing in St. Augustine? 

At HW Roofing, we know how overwhelming and stressful it can be when you need a new roof for your home or business, especially when you just don’t have the money to spend on it. That’s why we offer financing options that allow you to get a roof on your home or business without breaking the bank. 

To learn more or get started with a free roof inspection, contact our team today to schedule a free inspection. Want to get started right away? Apply for financing here. Our roofing company proudly serves those in St. Augustine, Nocatee, Jacksonville, Ponte Vedra, Ponte Vedra Beach, Palm Coast, Palatka, Gainesville, and the surrounding communities in Northeast FL.