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:
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.
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.
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.
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 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 |
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.
Step 1: Confirm Eligibility
Step 2: Choose Between a Loan, a Grant, or Both
Step 3: Get a home repair estimate
Step 4: Prepare Required Forms & Documentation
Step 5: Contact Your Local USDA Rural Development Office by email, phone, or in person
Step 1: Confirm Eligibility
Step 2: Check Program Status & Timeline
Step 3: Once the Program Reopens, Complete the Application Packet
Step 4: Submit Your Application
Review some of the common roof financing questions homeowners have asked us.
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.