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Enter the project cost, deposit, interest rate and term to see the monthly payment, the total interest you will pay and the all-in cost of the roof. Stretching a loan makes the monthly figure look smaller while quietly adding thousands in interest, so compare a short term against a long one before choosing. Pair the result with the project estimator for a defensible project number, and read the financing options guide to compare cash, home equity, contractor plans, personal loans and insurance claims.
What a financed roof actually costs depends on three numbers: the amount, the rate and the term. Extending the term lowers the monthly payment and raises the total, often by more than people expect.
| Term | Monthly payment | Total paid | Total interest |
|---|---|---|---|
| 3 years | $477 | $17,172 | $2,172 |
| 5 years | $311 | $18,683 | $3,683 |
| 7 years | $241 | $20,272 | $5,272 |
| 10 years | $190 | $22,802 | $7,802 |
| 15 years | $152 | $27,385 | $12,385 |
The 15-year payment is far more comfortable than the 3-year one, and it costs several times as much in interest. The figures use a fixed rate and equal monthly payments.
| APR | Monthly payment | Total interest |
|---|---|---|
| 5% | $212 | $2,809 |
| 7% | $226 | $4,017 |
| 9% | $241 | $5,272 |
| 12% | $265 | $7,242 |
| 15% | $289 | $9,314 |
| 18% | $315 | $11,482 |
The spread between a secured home equity rate and an unsecured personal loan or a card rate is the single largest lever on what the roof costs you in total.
Get three written quotes against the same scope first. The spread between quotes on the same roof is frequently larger than the interest on the whole loan, so an hour spent comparing quotes line by line is worth more than a percentage point on the rate.
It depends on the rate and the term. Stretching $15,000 at 9% from three years to fifteen roughly halves the monthly payment and multiplies the total interest several times over.
Only if you need to. The longer term is more comfortable each month and costs far more overall — compare the total paid, not the monthly figure.
Origination fees, deferred interest on promotional offers, the permit, and any decking replacement found after tear-off. Borrow with a margin for the last two.
Get three written quotes against the same scope. The spread between quotes on the same roof is frequently larger than the interest on the whole loan.
Comparing the ways to pay? Read roofing financing options.
Need the whole roof at once? The free roofing calculator works out roof area, squares, shingle bundles, underlayment, drip edge, ridge cap and installed cost from one set of measurements.