Am I Eligible for Roof Financing?


Columbia home with new roof and backyardAt Joye Roofing, we understand that roof replacement is a major expense. Here on our blog, one of our goals is to arm you with enough information to make sound decisions about roofing projects for your home and your family.


Budgeting for a roof replacement is an important step for any homeowner. In many instances, financing your roof replacement provides flexibility to help you factor this important expense into your budget.


When budgeting for your roof replacement, there are many factors that can impact roof financing and flexibility in payments. In our experience working with homeowners across Columbia, these are some of the most important factors to consider:

Roof replacement due to damage may be covered.

If your roof was damaged due to severe weather, fire, or theft/vandalism, your roof replacement may be covered under your homeowner’s insurance. Before making any decisions on financing, be sure to call or meet with your insurance agent to examine your coverage and determine whether any financing or out-of-pocket costs are necessary.

Roof financing is like any other loan.

Just like the loans you take to purchase furniture or buy a new car, financing your roof replacement goes through a bank. The difference is, Joye Roofing does the work for you. Once you submit your financing application to us, we send it to the bank to determine whether or not your financing request was approved.


Eligibility for roof financing (along with term length, interest rate, down payment and other terms) will be determined based on your creditworthiness. To avoid any surprises, consider reviewing your own FICO score and credit report.

You may have several options.

Taking some time to review your options before deciding upon roof financing could save you thousands of dollars in the long run. Here are some of the most popular options:

FHA Title 1 home and property improvement loan through a financial institution.

The Federal Housing Administration (FHA) runs the Title 1 loan program and insures the loans, which minimizes risks to lenders. Title 1 loans do not require a minimum income or credit score, although you must have a debt-to-income ratio of 45% or less to qualify.


If you own a single family home, you may be able to borrow up to $25,000 and pay off the loan for up to 20 years.  To find an approved Title 1 loan lender, use the lender list search tool on the Housing and Urban Development website.

Home equity loan through a bank or credit union.

Many banks offer home equity loans that cover home improvements, including roof replacements. With a home equity loan, you are placing the equity in your home up as collateral for the bank to consider when approving your loan.


Many local and national banks offer promotional discounts for home equity loans. To start, you may want to meet with your mortgage lender. Local credit unions may also offer promotional financing.

Financing through your roofing partner.

Reputable roofers typically offer promotional financing through a banking partner. Due to the exclusive nature of those partnerships, terms are typically very competitive and attractive for home buyers. Here at Joye Roofing, for example, we offer financing through Service Finance Company, LLC. Depending on preference and creditworthiness, we offer 36 months or 12 months, same as cash.

Roof financing can remove some of the stress around roof replacement.

Replacing your roof is a major investment to protect your home and family. At Joye Roofing, we have been roofing Columbia for over 10 years. We are proud to be your roofing partner. Contact us now to learn more about our roof financing options and schedule your free roof inspection.


roof financing columbia sc


Derek Joye has been roofing homes and businesses in the Midlands for over 10 years.