According to Forbes magazine, the average cost of replacing a roof is $8,000. Not many people have that amount on hand, so they have to find other ways to get the money for a new roof. Roofcrafters, a roofing contractor serving Georgia, Florida, and South Carolina, looks at ways to finance your new roof.

The first way to go about roofing is to find roofers that offer financing. This is like taking out a home loan, only it’s with a private financial company and not a bank or credit union.

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You then are able to pay back the loan in payments that can go as low as $150 per month. You have to pay interest as well as the cost of the roof. You also have to pay late fees if you miss a payment.

Another way is to put the roof on a credit card if your credit limit is large enough to cover the entire cost of the roof. Like with getting a loan or financing, you also have to pay interest. Be sure to compare the interest rate of your credit card to a roofer’s financing option to see which has the lower rate.

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