Roof Financing Calculator
A $13,000 roof financed at 9.5% over ten years costs $20,186 — you pay $7,186 in interest for the privilege. That is not an argument against financing a roof you need. It is an argument for seeing the real number before you sign, which most lenders would rather you did not.
Loan Details
Your Roof Loan
Monthly payment and true total cost
Mid range
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What's included
- Installation labor
- Permit
- Waste factor (%)
- Sales tax
Tax applies to materials only — labor on a real-property improvement is untaxed in most states. Check your local rate.
Warranty · Lifespan · Maintenance
Material quantities
Includes your % waste factor
| Roofing squares | |
| Shingle bundles | |
| Underlayment rolls | |
| Roofing nails | |
| Ridge cap | |
| Drip edge |
Project timeline
Typical for squares
Estimate confidence
Confidence reflects what we actually know about your inputs — whether you measured or estimated, how complex your roof is, and whether we hold labor data for your state. It is not a fabricated percentage.Sources: BLS state wage data · tracked material pricing · your measurements · Methodology
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Estimates are planning ranges, not quotes. Read our methodology.
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How we calculated your estimate
We use the standard amortisation formula. Monthly payment = P × r ÷ (1 − (1 + r)^−n), where r is your monthly rate and n is the number of months. Total interest is simply the sum of all payments minus what you borrowed — the number lenders rarely put on the front page.
| Step | Formula |
|---|---|
| Monthly payment | P × r ÷ (1 − (1 + r)⁻ⁿ) |
| Total repaid | monthly × number of months |
| Total interest | total repaid − principal |
Labor rates derive from published BLS occupational wage data. Read the full methodology →
Quick cost summary
Home equity loan
6 – 9%
Usually the cheapest option if you have equity
Personal loan
8 – 15%
No collateral, faster, more expensive
Contractor financing
12 – 20%
Convenient — and often the priciest
0% promotional
0% then 25%+
Check what the rate becomes when the promo ends
Factors that affect the cost
Interest rate
The single biggest lever. The difference between 7% and 15% on a $15,000 roof over ten years is roughly $7,000.
Loan term
A longer term lowers the monthly payment and raises the total cost. Both things are true at once.
Loan type
Home equity is cheapest but puts your house at risk. Personal loans cost more but don't. Contractor financing is convenient and usually the most expensive.
Your credit score
Determines the rate you are actually offered. Advertised rates are for the best applicants.
Ways to save money
Check your insurance before you borrow
If a storm caused the damage, your policy may cover replacement minus the deductible. Borrowing for something insurance would pay for is a costly mistake.
Compare the total, not the monthly
A lower monthly payment over a longer term almost always means more money paid overall. Lenders lead with the monthly figure for a reason.
Look for assistance programs first
Some states, municipalities and nonprofits offer grants or zero-interest loans for essential home repairs, particularly for older and lower-income homeowners.
Read what happens after a 0% promo ends
Promotional rates often revert to 25%+ on the full original balance if not cleared in time. That is a very expensive surprise.
Common mistakes to avoid
Taking contractor financing without shopping around
It is the most convenient option and frequently the most expensive. Get one quote from your bank or credit union before you accept it.
Financing a roof you could repair
If a targeted repair buys you five more years and costs a fifth as much, borrowing for a full replacement now is a choice, not a necessity.
Ignoring the total interest figure
The monthly payment is designed to feel manageable. The total interest is the number that tells you what the loan actually costs.
Frequently asked questions
A $13,000 roof at 9.5% over ten years costs about $168 per month and $7,186 in total interest — so the roof effectively costs $20,186. Rate and term change that dramatically.
A home equity loan or HELOC, typically 6–9%, if you have equity and are comfortable securing the debt against your home. A personal loan is more expensive but does not put the house at risk.
It is convenient, and it is usually the most expensive option — often 12–20%. Always get one competing quote from a bank or credit union before accepting it.
Possibly. Some states, municipalities and nonprofits run grant or zero-interest loan programs for essential repairs, often targeted at older or lower-income homeowners. It is worth an hour of searching before you borrow.
Only if you are certain you can clear the balance before the promo ends. Many revert to 25%+ interest applied to the full original balance, which is far worse than a plain loan.
If the damage came from a covered event like a storm, hail or a fallen tree, then usually yes, minus your deductible. Age and wear are not covered. Check before you borrow.
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