How to Pay for a Roof with No Money

How to Pay for a Roof with No Money

Roofing Orlando

There are many options available for homeowners to cover the cost of a new roof or a roof repair. If you are in need of roof work and don’t have the cash on hand to cover it, you’re not alone. Many homeowners take advantage of one of the following options to pay for their new roof.

  1. Financing
  2. Insurance
  3. Grants and Assistance

1. Financing

Many roofing companies offer excellent, low interest financing options to pay for a new roof. For example, as of March 2021, we offer up to 12 year financing, with no interest charged in the first year. When you get a free roofing estimate, talk to your roof estimator about financing options available. Working directly with the roofing company is often the easiest option for financing your roof and provides the best interest rates.

Other options for financing include:

  • Apply for a home improvement loan at a bank or local credit union.
  • Apply for a home equity loan.
  • Place the roof cost balance on a credit card.

2. Insurance

Find out if your insurance company will cover the new roof. Rather than contacting your insurance company first, we recommend getting a free estimate from your roofing company first. Your roofing company will be able to advise you on the process of submitting your roofing claim and will be able to provide professional documentation of the damage.

Whether or not your insurance company will cover your roof replacement or repair depends on your insurance policy. Some policies only cover damage caused by an “act of God,” or in other words, weather related damage. Other policies may cover your roof more broadly. Look at the fine print of your policy. After you have gotten an inspection and estimate from a roofer, contact the insurance company to discuss what is covered and the process to file a claim.

You may be surprised at what your insurance company will cover, so you should always. They may cover the cost of your roof replacement in full or in part.

3. Grants and Assistance

There are several county-wide and federal grants available to homeowners to pay for a roof replacement or repair. Some of these programs include:

  • Orange County Housing Rehabilitation: This program in Orange County, Florida offers assistance to low income individuals for home repair.
  • Habitat for Humanity Roof Repair: Habitat of Greater Orlando and Osceola accepts roof repair applications for individuals who earn up to $40,750 annually. Your local Habitat for Humanity may have a similar program.
  • Single Family Housing Repair: This Rural Development program by the USDA offers assistance for low income seniors to repair their homes. The program offers a combination of loans and grants up to $27,500. Enter your address at this website to find out if you might be eligible.
  • Federal Home Repair Programs: See this list of agencies provided by HUD for other possible avenues to obtain a home repair grant in Florida.

Research online and contact your local United Way agency to find out about other assistance available.

Roof with No Money FAQ’s

Yes, there are several government grants available to low income individuals for a new roof or roof repair. See Grants and Assistance for a list of federal and county roof repair programs.

Many roofing companies offer payment plans, including Castle Roofing Group. We are proud to offer a low interest financing plan to make roof repair more accessible and affordable. View the details of our financing plan here, and get in touch with a roof estimator to find out if you might be eligible.

In order to get your insurance to pay for a new roof, we recommend first getting a roofing inspection with a reputable roofing company who can help walk you through the process of contacting the insurance company. The roofing company will act as an advocate to ensure you receive the most money possible for your new roof.

If you need a new roof with bad credit, be sure to consider all of the financing options available, including a payment plan and a home equity loan. You may also qualify for one of the grants listed above.

Roofing Companies Orlando

At Castle Roofing Group, we are happy to assist you with financing options and in navigating the insurance claim process. As a trusted roofer in the Orlando area, you can rely on us for the most affordable, high quality roof work with a focus on customer service. Contact us today for a free estimate online or at (407) 477-2823.

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