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Investing in a new roof is a significant decision for many homeowners, and it’s one that often comes with a substantial price tag. Your roof is not just a structural component; it's a critical protector of your home and everything within it. In Maryland, where the climate can be incredibly diverse and sometimes unforgiving, having a reliable roof is paramount!  


At Simple Solutions, we understand that financing a new roof can be a concern, and that's why we've compiled this brief guide in order to explore popular roof financing options available to homeowners in our region. From understanding the costs associated with a new roof to exploring common financing avenues and answering frequently asked questions, this guide is designed to help you choose the best option regarding your next roofing project! 





Low Prices

New Roofing Can Unfortunately Bring High Price Tags

As stated previously, investing in a new roof is a crucial decision for homeowners, but it often comes at a high cost. Understanding the costs and exploring financing options can help make this essential home improvement more manageable for Marylanders. Read on to learn more! 

How Much Does a New Roof Cost in Maryland?

The average cost of a new roof installation can vary widely depending on several factors, such as the size of your home, the type of roofing material you choose, and any additional features or complexities of your property. On average, homeowners can expect to invest anywhere from a few thousand dollars to several tens of thousands for a full roof replacement or installation. 

Brand New Installation vs. Roof Replacements

Deciding between a brand-new roof installation and a roof replacement can significantly impact the overall cost. It is sometimes possible to install new shingles over top of the old ones in an effort to save on labor costs, but this is not recommended. It's more of outdated practice at this point. When you conduct a full roof replacement, it enables you to take advantage of the complete system warranty from manufactures, which you can't do if you just install a new roof over top of the old. Additionally, a roof replacement will enable you to fully inspect the decking and address any structural needs, which can be very helpful in the long run. 


Common Roof Financing Options for Homeowners

If you find yourself concerned about the cost of a new roof, don’t fret, there are several financing options available to homeowners!  

Paying with Insurance (if Applicable)

In some cases, homeowners insurance may cover the cost of a new roof replacement if the roof damage is caused by a covered event, such as a storm or a fallen tree. Be sure to check your roofing insurance policy and consult with your insurance provider to determine if your roof replacement qualifies for coverage! This can be a huge win for homeowners needing a new roofing system. 

Is Your Current Roof Under Warranty?

If your current roof is still under warranty from its manufacturer or the roofing company that installed it, it's worth exploring whether the warranty covers the type of damage or wear that necessitates a replacement. If so, you may be able to have the cost of the new roof partially or fully covered by the warranty. 

Home Equity Loan or HELOC

A home equity loan or a Home Equity Line of Credit (HELOC) allows homeowners to tap into the equity they've built in their home to finance home improvement projects, including a new roof! These loans typically offer competitive interest rates and flexible repayment terms – learn more about HELOCs

Contractor Financing

Most reputable roofing contractors will offer financing options directly to their clients! These financing plans may come with competitive terms with monthly payments and can make it easier to budget for your new roof. Contact Simple Solutions today for more information on our customer-friendly financing options! 

HUD Home Improvement and Repair Loan

The U.S. Department of Housing and Urban Development (HUD) offers home improvement loans specifically designed to help homeowners finance essential repairs and improvements, including roofing projects! These loans often come with favorable terms and lower interest rates. 

Personal Loans

Another option for financing a new roof is a personal loan from your bank or an online lender. These loan terms typically have fixed interest rates and can be used for various home improvement projects – contact your bank for more information on whether securing a personal loan for a new roofing system is right for you. 

Credit Card (One with a 0% Promotional Rate)

While we don’t recommend that this is your first option, if you have a credit card with a 0% promotional rate on purchases or balance transfers, it can be a convenient way to finance your new roof. Note: make sure to pay off the balance before the promotional period expires to avoid higher interest rates! 


FAQs About Financing a New Roof

At Simple Solutions Contracting, we believe that well-informed decisions are the cornerstone of successful roofing projects! Below, we provide answers to some of the most frequently asked questions that our team receives about roof financing. Whether you're a first-time homeowner or simply seeking clarity on the financing process, we aim to provide you with the insights and guidance you need to navigate the financial aspects of your roofing project confidently. 

What Credit Score Do I Need to Finance a New Roof?

The credit score requirements for financing a new roof can vary depending on the lender and the specific financing option you end up choosing. While some options may have more lenient credit requirements, having good credit generally improves your chances of securing favorable terms and lower rates! 

How Long Can I Finance a Roof For?

Much like the previous question, the length of your financing term can also vary depending on the lender and your unique plan. It's common to find financing terms ranging from a few years to a decade or more; consider your budget and choose a term that aligns with your financial goals. 

Are There Programs Available to Help Pay for a New Roof?

In some cases, there may be government programs or local incentives designed to assist homeowners with roof replacements or energy-efficient roofing upgrades! Homeowners can research available programs in their region to explore potential financial assistance options. 

Schedule A FREE Roof Inspection Today!

Don't wait until it's too late - schedule your free estimate and roofing inspection with Simple Solutions today! Call us or send us a message to schedule an appointment and take the first step towards a well maintained roof that will protect your house for years to come.


Simple Solutions Contracting is Proud to Be a Go-To Roofer in Maryland

At Simple Solutions Contracting, we understand that financing a new roof is a significant decision for your home and your family! That's why we're proud to offer customer-friendly financing options to make your roofing project more accessible! Our experienced team has a track record of delivering high-quality roofing solutions, and we invite you to check out our past projects gallery to see our work. Whether you're in need of roof repairs, a roof replacement, or any other roofing services, our team is here to provide expert solutions tailored to your needs! 

Offering Customer-Friendly Financing for Full Roof Installs

We're committed to ensuring that you have the financing options you need to protect your home and investment with a robust new roofing system. Contact Simple Solutions today to learn more.

Contact Our Team Today for a Free Estimate

Ready to take the next step towards a new roofing system for your Maryland home? Contact our team today for a free estimate - we're here to answer your questions, discuss financing options, and provide the expert guidance you need to make informed decisions about your roofing project! 

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