When it comes to owning a home, it’s important to make repairs throughout the year to ensure that the house can continue to remain functional and appealing. The roof is one of the most important essential features on the property to repair to prevent leaks or water damage. If you can’t initially afford roofing repair, there are a few ways to pay for the expense.

Have a Yard Sale

Consider hosting a yard sale that allows you to sell items that are no longer used. A garage sale is the opportunity to not only clean out your home but also make extra cash. For more expensive items like jewelry or electronics, consider selling them online or at a local pawn shop to make more of a profit that can be used to repair your roof.

Refinance Your Home

Refinancing your home is an additional way of creating more room in your budget to afford roofing repairs that are needed periodically. Whether you have a VA loan or an FHA loan, consider refinancing it to obtain a lower interest rate, which can save a significant amount of money over time as you repay your home loan. The FHA 203K Refinance Loan program can be useful when performing the repairs, but you’ll need to consult a financial expert in advance to determine if it’s the right option for your situation.

Finance the Repair Costs

Although it can be difficult to find the cash to pay for the repair, you can finance the cost whether you use a credit card or get a home equity line of credit if the costs are high due to severe damage that has occurred on the structure.

Apply for a Grant

Homeowners who are in need of extra funds can also consider applying for a grant through a local, state, or federal government. Consult the Weatherization Assistance Program, which can make it possible to obtain the funds in full and begin the repairs immediately. Another option is the Section 504 Home Repair program for financial assistance or the Very Low-Income Housing Repair program if you meet the requirements. The interest rates are often low on the grants, which can be a more affordable option compared to using a credit card.

Repairing your roof doesn’t have to become a headache if you’re strapped for cash. By considering your options to obtain the necessary funds, you can cover the cost as soon as possible.


Weatherization Assistance Program | www.energy.gov

VA home loans | LowVARates.com

What is a home equity line of credit (HELOC)? | bankofamerica.com

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