How to Finance Your Roofing Repairs or Replacement

3 tips for prepping your roof before winter

As a crucial and protective element to your home’s structure, your roof should be leak- and damage-free at all times. But given the expensive nature of roofing services, how do you afford sudden repairs or replacement? As it turns out, you have several financing options–including insurance coverage and loans–for professional roofing repair services.


For home repair and roofing replacement services in Great Falls, VA, turn to HB Home Services. We are a locally owned and family-operated company that supports our community and its institutions. Along with roofing, we also work on kitchens, bathrooms, basements, gutters, trim, and more housing features. When it comes time to replace your roof, look no further than your neighborhood provider, HB Home Services.


Below, we discuss your financing options and consider how you can reduce the cost of roofing repairs/replacement:

Financing Options for Roof Repair & Replacement

  1. Insurance coverage
    If your roof suffered damage in a storm or fire, your homeowner’s insurance policy could cover the cost of repairs. However, damage from age or a lack of maintenance is not covered by these policies—though this differs case by case. If you have homeowner’s insurance, reach out to your provider and check on your policy details.
  2. FHA Title I home and property improvement loans
    This program–run by the Federal Housing Administration (FHA)–makes loans available to homeowners who need major repair work. To do so, the FHA insures the loans to reduce lenders’ risk. Folks who own a single-family home can borrow up to $25,000 and pay it off over 20 years.Nevertheless, banks and credit unions offer the loans themselves and these institutions have individual requirements and rates. You can look online for a Title I lender near you.
  3. Home equity loan
    One of the most cost-effective financing options for homeowners is a home equity loan. A bank or credit union determines your loan’s value based on your home’s equity. That institution then offers the loan with your home acting as your collateral.This option comes with a risk: should you fall behind on payments, you could lose your home. Thus, ensure you have a comfortable financial status before borrowing against your house. HB Home Services offers home equity loans through the GreenSky program.
  4. Personal loans
    One further financing option is a personal loan. Working with a bank or credit union, you could borrow up to $100,000 without needing to offer collateral. Nevertheless, drawbacks exist here too.While you may have 20 years to pay off a home equity loan, personal ones come with shorter periods. Should that be 2 to 5 years, you will face high monthly payments. Plus, personal loans tend to have greater interest rates, especially for anyone with less-than-excellent credit.

Saving Money on Your New Roof

Given the expenses associated with roofing replacement services, people like to cut costs when possible. Your best way of doing so involves working closely with your renovation contractor.


Speak with HB Home Services about which roofing materials offer the best value. While asphalt shingles may be cheap, they also wear out sooner than metal ones. You want to balance the upfront costs with the time you expect to spend in the home.


Also, if your roof can hold out for some time, schedule your repair during the off-season (usually winter). When a renovation service must work on a project during the busy season, its price tends to rise.

Home Renovation and Roofing Repair Services Available in Great Falls, VA

Your roof is one of your home’s most important assets – make sure it remains in good condition. Should you need professional roofing repair services, reach out to HB Home Services. We are the Great Falls, VA, region’s provider of renovation and home improvement services. With years of experience and hundreds of satisfied customers, you can rely on our work and expertise. Call us today at (703) 764-0498 or fill out our online form for more information.