New Roof Financing Options (How to Get a New Roof for $163 a Month)

Facts are facts. Most homeowners don’t sit around daydreaming about replacing their roofs. But the reality is, sometimes you have to. And if you don’t, the nightmare’s only going to get worse.

But here’s some good news. Replacing a tired, worn-out roof doesn’t have to mean breaking the bank. In fact, with the right financing partner, you can spread the costs out over time—and maybe even get a new roof for as little as $163 a month.

Of course, it all depends on your roof size and loan terms, but in this article, the E&E team is breaking down what financing a roof really looks like—along with introducing you to the reputable lenders we trust and recommend to all of our homeowners.

Renovate Now, Pay Later—When Financing A Roof Makes Sense

For some homeowners, paying for a new roof in cash makes sense and feels best. However, for the majority of folks, financing is a solid financial path.

Here’s why:

• You can keep emergency funds for true emergencies
• You can budget for predictable monthly payments 
• You need a roof now and don’t have the funds
• You’d rather invest at a higher return than your loan APR

If any of these sound appealing to you, the next step is finding the right lender. 

E&E has two we trust and partner with for all of our home improvement projects.

Who Should I Reach Out to For a Roof Replacement Loan?

Whether you’re interested in financing as a better long-term financial decision or because your budget requires it, E&E has partnered with two reputable lenders in the home improvement space: Service Finance Company (SFC) and GoodLeap.

Here are the basic details of each.

Partner 1: Service Finance Company (SFC)

Simply put, SFC is a lender specializing in home improvement loans—and they know the industry inside and out.

SFC finances a wide variety of home improvement projects like roof replacements, siding installation, new windows, insulation, HVAC repairs, and more. 

They offer three basic loan types, depending on the terms you qualify for:

• No Interest loans
• Deferred Interest loans
• Standard installment loans (with fixed monthly payments)

Additionally, here’s what you can expect when borrowing from SFC:

• Billing accounts created after roof is installed
• First payment due 30 days after installation
• Can pay by check, ACH, money order, or cashier’s check
• No prepayment penalties—ever

Partner 2: GoodLeap

GoodLeap is a fast-growing fintech company specializing in financing home improvement projects with an eye on energy efficiency. 

But don’t let “energy efficiency” confuse you. It isn’t all about solar panels and geothermal heating. In fact, modern roofing, windows, doors, siding, and hundreds of other exterior upgrades fit the bill as well.

Here are a few reasons homeowners love GoodLeap:

• $0 down options
• Fixed interest rates
• 0.50% APR discount with autopay
• No prepayment penalties
• Quick application and approval process

In other words, GoodLeap makes it easy to get the cash you need for a new roof.

How To Get a Roof for As Little as $163 a Month

Your total monthly payment amounts are based on your approved APR, loan amount, and loan length. That said, many homeowners can qualify for monthly payments lower than $200.

Here’s what a 5.99% APR over 5 years looks like:

• $10K roof = ~ $193/month
• $15K roof = ~ $290/month
• $8,600 roof = ~ $163/month

And make no mistake, roof quotes in the $8K–$9K range aren’t unusual—especially if you’re living in a smaller home, have a simple tear-off project, use lower cost (but still reputable) materials, or if you’re getting a partial replacement.

Which makes the first step this…

How Do I Get Started With E&E’s Roof Financing Partners?

Funding your roof is a simple, three-step process.

1. Get Your Complimentary Estimate From E&E
   
   ‍An E&E roofing expert will come out and inspect your roof, go over your options, and then provide a detailed estimate—all free‍
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2. Choose Your Financing Lender
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   Next, our sales team will walk you through Service Finance Company and GoodLeap side-by-side, and help you find the best fit
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3. Get Approved Online—Fast!
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   Most applications take only a few minutes, with approvals coming back quickly—then, it’s our turn to get to work building you a solid roof!

A Roof You’re Proud of Is Within Reach!

A solid roof is your home’s first line of defense against the elements—and, properly installed, it’s the best investment you can make for protecting your interior, energy efficiency, and, dare we say, your sanity.

With E&E’s financing partners, a new roof has never been closer for homeowners. And whatever you need along the way, our team is here to give you the peace of mind you need to take each step forward.

So reach out for your complimentary estimate today. Because the E&E crew knows getting a new roof is a big deal. And while you may only do it once in a lifetime, we do it every day—and have been putting our homeowners’ minds at ease for over 30 years.

Take the first step.

Get Your Complimentary Estimate

Not ready to speak with a sales rep? Try our Free Roofing Estimate Calculator—with no sales call afterward (unless you want one)!