Roof Financing Calculator

Are you considering a new roof? Having Leaks, streaks, and popped shingles? Use our free Online Roof Financing Calculator to figure out your monthly payments. Unsure of what your new roof is going to cost? We offer free roof replacement estimates with no signup required to get your estimate. The best part is if you like your estimate, you can connect with one of our high-rated and lowest-priced roofing contractors in your area.

The average asphalt shingle roofing replacement comes in around $6,000 to $19,500 for a standard roof. The cost will be anywhere from $4.50 – 6.50 per square foot installed or $450 – 650 per square of new roofing. Many factors go into the price of a new roof. Such as roof pitch, facets, ridges, material, and more.

How do I get financing for my new roof?

Banks, credit unions, and contractors can connect you with financing for a new roof. Ask your contractor if they have information on financing options available to you. If they don’t you may want to consider either working with another contractor or reaching out to your local bank or credit union. A new roof can be an unexpected cost.

What to consider when financing your new roof

If you’re financing your new roof you may want to consider installing solar in tandem with your new roof. Asphalt Roofs have an average lifespan of about 25 years. This is a similar lifespan to solar panels. Or you may want to consider upgrading to solar roof shingles. In 2022 there are now multiple options for solar on your home. Let’s break down what combining a roof and solar together could mean for you and your home.

If a new roof costs $10,000 and a 10kW solar panel system is $18,000. You will be looking at borrowing $28,000. Financing $28,000 over 5 years (60 months) with 7 percent interest and no down payment puts your monthly payment amount at $554.43. If your electric bill is $250 and the solar is enough to offset your entire bill you can use the money previously used for electricity to help pay for your new loan. Your new monthly payment would be $304.43.

Let’s compare that to what you would pay monthly if you only financed your roof. If you financed $10,000 for your new roof at 7 percent over the same period your monthly payment would be $198.01. So essentially for only $106.42 more per month, you could have solar! That’s not even factoring in an added benefit to solar… With solar, you get an additional 30% or $5,400 tax credit from the federal government.