Cost & Financing · FAQ

What’s a typical personal loan rate for roof financing?

9 to 18% APR in current Illinois market conditions, depending on credit score and term length. Personal loans are unsecured (no lien on the home) which is the main advantage, and they’re fixed-rate which is the second. Closing is fast (often same-day funding).

The break-even versus HELOC: if your HELOC rate is 7% and personal loan is 12%, the personal loan costs about $400 to $700 more per $10,000 financed per year. Whether that’s worth the unsecured nature depends on your equity position and risk tolerance. Customers with limited equity or who want to keep the home unencumbered often prefer the personal loan; those with significant equity and longer payoff timelines prefer the HELOC.