How to Pay for a New Roof in Florida: Financing Options Compared

Start with the real number

Financing decisions get easier once the number is real. A typical Broward single-family replacement runs $12,000–$22,000, with architectural shingle at the lower end and concrete or clay tile and standing-seam metal at the higher end; the full range is roughly $9,000–$45,000. Those are planning ranges — your price depends on size, pitch, material and what the deck looks like once the old roof comes off.

Get a written, itemized estimate before you shop for money. It tells a lender exactly what you're borrowing for, and it lets you compare financing offers against the same scope. Also ask whether the roof is a repair candidate at all: most repairs run $450–$3,500, and a roof with years left doesn't need a loan-sized solution.

Before borrowing, check two things that can change the math: whether a covered storm caused damage that your insurance should be paying for, and whether you qualify for hardening grants or insurance credits that offset part of the cost.

Savings and milestone payments

Paying cash is the cheapest option when it's available, because there is no interest. Most roofing contracts are paid in stages tied to milestones such as permit issuance, material delivery or dry-in, and final inspection, rather than all at once.

Florida law adds a useful protection on deposits. Under section 489.126, Florida Statutes, a contractor who receives an initial payment of more than 10% of the contract price on residential work must apply for the necessary permits within 30 days and start work within 90 days after the permits are issued, unless there's just cause or a written agreement providing otherwise. Tie payments to completed work, and be wary of anyone asking for most of the price up front.

Home equity loans and HELOCs

For many homeowners with equity, a home equity loan or home equity line of credit is the lowest-rate way to borrow for a roof, because it is secured by the house. A home equity loan gives you a lump sum at a fixed rate; a HELOC lets you draw as needed and usually carries a variable rate.

The trade-offs: your home is collateral, closing costs and appraisal requirements can apply, and approval takes longer than a personal loan — which matters if the roof is actively leaking. Interest may be tax-deductible in some cases when the money improves the home; ask a tax professional rather than assuming.

Personal loans and FHA Title I loans

Unsecured personal loans are fast and don't put a lien on the house, but rates are typically higher than home equity borrowing and depend heavily on your credit. They can make sense for smaller jobs or when timing matters more than rate.

FHA Title I property improvement loans are made by approved private lenders and insured by HUD. For a single-family home, the maximum loan is $25,000, with terms up to 20 years; loans over $7,500 must be secured by the property. They can work for homeowners with limited equity, but not every lender offers them, so ask lenders directly.

Contractor-arranged financing

Many roofing companies offer financing through a third-party lender. It is convenient — the application happens alongside the estimate — but the lender, not the roofer, sets the terms. Read the offer as you would any loan:

• Ask for the cash price first, then compare the financed total. Financing costs are sometimes built into a higher contract price.
• Look at the APR and the total of payments, not only the monthly payment.
• Be careful with 'no interest if paid in full' promotions. Deferred-interest offers can charge interest back to day one if the balance isn't cleared in time.
• Find out who the lender is, whether there are origination or prepayment fees, and whether a lien is filed.
• Don't let a financing deadline rush you past getting a second estimate.

Residential PACE: understand the lien before you sign

Property Assessed Clean Energy (PACE) financing lets a homeowner pay for qualifying improvements — Florida's list includes roof repair and replacement and wind-resistance upgrades — through a non-ad valorem assessment collected on the property tax bill. Florida substantially rewrote its PACE law in 2024, and the residential rules in section 163.081, Florida Statutes, include significant consumer protections:

• PACE may only be offered where the county or city has authorized it by ordinance or resolution, so availability depends on where you live.
• Total residential PACE assessments generally can't exceed 20% of the property's just value without the mortgage holder's written consent.
• The term can't exceed the weighted average useful life of the improvements, and no more than 20 years.
• Estimated annual payments for all PACE agreements can't exceed 10% of the household's annual income.
• The program administrator must provide written disclosures and conduct a recorded confirmation call, and must advise getting estimates from more than one unaffiliated contractor.
• You must give your mortgage holder or servicer written notice at least five business days before signing, and you can cancel within three business days after signing without penalty.

The trade-offs of PACE

The protections exist because PACE has real risks. The assessment is a lien of equal dignity to property taxes from the date it's recorded, which means it sits ahead of your mortgage in priority. Missing payments is missing a tax payment. If your taxes are escrowed, your monthly mortgage payment can rise as the assessment is added.

A PACE lien can also complicate a sale or refinance; many buyers' lenders and refinance lenders require it to be paid off first. Compare the PACE interest rate and fees against a home equity loan or HELOC before choosing it, and read every disclosure. If you're unsure, ask the program administrator and your mortgage servicer specific questions in writing.

Insurance, grants and credits

If a hurricane, windstorm or other covered peril damaged the roof, an insurance claim may cover much of a replacement, minus your deductible — in Florida, often a separate hurricane deductible of around 2% of dwelling coverage. Age and wear generally aren't covered. Our insurance claim guide walks through deadlines, ACV versus RCV and what to expect.

The My Safe Florida Home program has offered free wind mitigation inspections and matching grants of up to $10,000 toward qualifying hardening work, including roof improvements and secondary water barriers. Funding and eligibility rules change year to year, so check the program's current status before counting on a grant, and don't start work you expect a grant to cover until you understand the program's approval process.

Finally, a new roof can lower your premium. Once the roof passes final inspection, a new wind mitigation inspection documents the features a Broward HVHZ roof is built with, and the resulting credits keep paying back year after year.

Questions to ask before you sign anything

Whichever route you take, the same questions protect you:

• What is the total cost of the financing over its full term, including fees?
• Is there a lien on my home, and what happens if I sell or refinance?
• Is the rate fixed or variable, and is there a prepayment penalty?
• Is the contract price the same whether I pay cash or finance?
• Does the payment schedule follow completed work and inspections?
• Is the contractor's work permitted and inspected, and are the crews licensed and insured?