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Low-Interest Loans to Replace Your Roof in Northern Indiana

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You know it’s time to replace your roof. You’ve seen all the warning signs, and you’ve even gotten a few quotes from your local roofing contractors. But that’s where you’ve reached a stopping point. As it turns out, replacing your roof is going to cost more than you can charge to your credit card.  

Do you need a new roof but can’t afford the up-front cost? Have lenders turned you away due to low credit or limited income? You’re not alone, and the good news is that there are affordable roof loans in Northern Indiana designed to help homeowners like you. 

Researching this topic can lead to a seemingly endless rabbit hole of information, so Equity Roofing has narrowed it down for you. We're a roofing company in Northern Indiana and an Owens Corning Platinum Preferred Contractor. After working on hundreds of homes, we know that one of the top concerns for homeowners is how to afford a new roof. 

Although we offer financing, we recognize that poor credit can result in higher interest rates. We believe every homeowner deserves a safe roof without going into debt.

You’ll learn about the various loan options available and be able to choose the best one for your situation. We'll explain two roof replacement assistance programs for Northern Indiana residents: the USDA Section 504 Home Repair Program and LaCasa's Help-A-House program.

This article covers: 

What Is a Low-Interest Loan for Roof Replacement?

A low-interest loan for roof replacement lets homeowners pay for a new roof over time with lower interest rates than regular loans. These are usually part of home repair or improvement loan programs.

What types of low-interest roof loans are there? 

1. Government-Backed Loans
2. State or Local Housing Authority Loans
  • Some states or counties offer subsidized loans or grants for critical home repairs.
3. Personal Home Improvement Loans
  • Unsecured loans from banks or credit unions typically have fixed interest rates that are lower than those of credit cards.
4. Energy-Efficiency Loans or PACE Financing
  • Energy-efficient roofs with solar panels or reflective materials may qualify for special financing.
5. Roofing Company Financing
  • Many contractors partner with lenders for low-interest loan rates. These are usually available for a limited time.

How Much Does It Cost to Replace a Roof in Northern Indiana?

The average cost of a new roof in Indiana ranges from $5,900 to $16,000, according to data on HomeGuide.com. To better understand what drives the wide cost range, here’s a breakdown of common factors and how much they typically contribute:

Cost Factor Contribution to Overall Cost Notes
Material & Labor ~60% Major cost driver; includes installation and materials.
Roof Size Variable More square footage = higher cost; roof sq ft ≠ house sq ft.
Roof Complexity Medium to High Features like hips, valleys, and angles increase labor/material needs.
Hard-to-Reach Roofs Medium Increases the time and difficulty of delivery, cleanup, and installation.
Chimneys +$300-$1,000 or more  Adds complexity and potential flashing work.
Skylights +$800-$2,500 or more Raises labor and sealing requirements.
Deck issues Variable May increase cost post-inspection; often discovered during removal.
Potential Contractor Fees Variable Includes dumpster, fuel, permits, and administrative costs.

Take a deeper look into the main cost factors of roofs and discover how to get an accurate roof replacement quote in our Roof Cost Guide for Homeowners.  

Goshen & Elkhart County Low-Interest Roofing Loan Options

Residents of Northern Indiana can turn to two primary programs for 0% to 1% low-interest roof replacement loans. These are federally backed and state-supported loans for homeowners.

Government home repair programs in Northern Indiana: 

Offers a 1% loan (up to $20,000) and/or grant (up to $7,500) for very low-income homeowners in eligible rural areas.

  • Help‑A‑House program from LaCasa, Incorporated

    Offers a 0% interest, $0 monthly payment loan that is due when you sell or are no longer living in the home. This is a city-partnered program for critical home repairs (including roofs) in Elkhart County. 

Do You Qualify for a Low-Interest Roofing Loan? 

The USDA Section 504 Home Repair Program and the Help-A-House program from LaCasa, Inc. have specific eligibility requirements that determine who qualifies for funding. Use this side-by-side comparison to determine which option may be the best fit for your household.

USDA Single Family Housing Repair Loans & Grants (Section 504 Home Repair Program) VS Help‑A‑House program from LaCasa, Incorporated

  USDA 
Section 504		 Help-A-House
City of Goshen
Homeowner Status Must own the property Must own the property
Occupancy Must be the primary residence Must be the primary residence and occupied for at least one year
Mortgage Status Current on mortgage payments Current on mortgage payments
Income Limits: Area Medium Income (AMI)

Household income must be 50% or less of the AMI (check by county)

 Household income must be at or below 80% of the AMI for Elkhart County.
Location Eligible rural areas Within the City of Goshen
Credit Must not be able to obtain affordable credit elsewhere Unspecified
Financial Standing A minimum credit score is not required, but the ability to repay is considered Must be current on property tax and insurance payments
Property Type Restrictions Must own home and land for mobile and manufactured homes, or have a long-term lease  Properties on land contracts, rental units, mobile homes, and manufactured homes built before 1991

How to Apply for Roof Replacement Government Loans

Replacing a roof can be one of the most expensive home repairs a homeowner faces. Using a low-interest loan can reduce your overall costs. Some loans also allow you to use them in combination with grants. 

Application Guide for the USDA Section 504 Home Repair Program

Step 1: Confirm Eligibility 

Step 2: Choose Between a Loan, a Grant, or Both

  • Loan only: Up to $40,000 at 1% interest, repayable over up to 20 years
  • Grant only (age 62+): Up to $10,000, forgivable if you remain in the home for 3 or more years 
  • Combined: Can receive up to $50,000 in total assistance

Step 3: Get a home repair estimate 

  • Get a written estimate for the cost of your roof replacement from a local contractor. We recommend any of our 10 Best Roofing Companies in Northern Indiana. 

Step 4: Prepare Required Forms & Documentation

Step 5: Contact Your Local USDA Rural Development Office by email, phone, or in person

Application Guide for the Help-a-House Program

Step 1: Confirm Eligibility 

Step 2: Check Program Status & Timeline

  • The program opens in mid-summer; applications will be accepted starting in July 2025. 
  • Funds are limited and processed on a first-come, first-served basis.

Step 3: Once the Program Reopens, Complete the Application Packet

  • Download or pick up the Help-A-House application form from Lacasa’s website or the Goshen office
  • Fill out the form completely, including household and income details
  • Gather all required documents:
    • Deed (or request it from the Recorder’s Office at $1/page)
    • Recent tax returns, W-2s, payroll stubs, SSA/pension statements, etc.
    • Proof of mortgage, taxes, and insurance payments 
    • Bank/investment statements, credit check, and title search will also be performed 

Step 4: Submit Your Application

Frequently Asked Questions About Roofing Loans in Indiana

Review some of the common roof financing questions homeowners have asked us. 

Can I get a roofing loan with bad credit?

Yes, but your options will be more limited.

Some roofing companies offer financing options regardless of credit score, but interest rates can be high.

You may also qualify for federal or state programs designed for lower-income homeowners, such as FHA Title I loans.

These programs may accept credit scores as low as 500, provided other conditions are met.

Do all roofing companies in Northern Indiana offer financing?

No, not all do.

Some roofing companies partner with lenders to offer payment plans, while others may expect full payment upfront. Be sure to ask whether financing is available when requesting a quote. 

What documents do I need to apply for a roof loan?

Most lenders will ask for:

• Proof of income (pay stubs, tax returns)
• A copy of your roofing estimate or contractor invoice
• Credit authorization for a soft or hard credit check
• Photo ID and proof of residency

Having these ready can help speed up your approval process.

Is it better to get a loan from a roofing company or a bank?

It depends on your needs.

Roofing company financing may be faster and more convenient, especially if it's a bundled service. However, banks or credit unions might offer lower interest rates and more flexible terms.

Always compare offers side by side (including total repayment costs and fees) before making a decision.

How long does it take to get approved for a roofing loan?

Approval times vary.

Many roofing companies can pre-qualify you within 1–2 business days. Banks and credit unions may take 3–7 days, depending on your documentation and credit history.

Government programs often take longer, sometimes 2–3 weeks.

Can I use a personal loan to pay for my roof replacement?

Yes. A personal loan is a common way to finance a roof, especially if you don’t qualify for specific roofing loans.

The downside is that personal loans often come with higher interest rates and shorter repayment periods. This makes them less affordable in the long term.

Are there grants or subsidies for roof replacement in Indiana?

Some Indiana counties and state programs offer grants or no-interest loans for select residents.

This includes low-income households, senior citizens, or families with emergency weather damage repairs.

Check with your local housing authority or utility provider to find out about current programs. These options are often limited and require early application.

Move Forward With Your Roof With a Low-Interest Loan 

Roof replacements in Northern Indiana can feel overwhelming, especially when you’re facing high costs. Now that you’ve seen how loan programs like the Section 504 Home Repair Program and Help‑A‑House work, you’re one step closer to finding an affordable solution.

Remember, traditional financing options may be fast, but they’re often more expensive. With the right low-interest loan, you could save thousands—and that savings is worth a little extra effort up front.

Use our Loan Readiness Checklist to stay organized and confident during the application process. Still have questions? Our team of roofing advisors is here to help.

At Equity Roofing, we’ve helped hundreds of Indiana homeowners finance their roof projects. We’d be honored to help you do the same. Contact us today for expert guidance or to request a free roof estimate.
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