Executive Summary
With average roof projects exceeding $10,000, financing adoption has grown. Home equity products dominate, but contractor-arranged personal loans are gaining share for homeowners without strong equity.
Key Findings
- ~40% of roof replacements are financed in some form.
- Home equity loans average 7-9% APR; personal roof loans 9-15% APR.
- Average financed amount: $12,800.
- Most common term: 10 years.
Methodology
Sourced from lender disclosures, contractor financing partner data, and homeowner financing survey responses.
Data Sources
- Federal Reserve consumer credit data
- Lender disclosure filings
- Contractor financing partner reports
FAQs
Is financing always more expensive?
Financing adds interest but spreads cost over time. Total cost depends on APR and term length.
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