Roof payment calculator
A longer term changes both your monthly payment and your total interest. Compare both before deciding what fits your budget.
Use the amount borrowed after any down payment. Include financed fees if applicable.
Use the contract interest rate. APR may include fees and can differ from this rate.
120 months = 10 years. Example inputs are not an offer of financing.
Estimated monthly payment
$198.14/mo
- Total of payments
- $23,777.17
- Total interest
- $8,777.17
No assumed insurance savings are subtracted. Payments are rounded for display; the lender’s final payment may differ slightly.
Assumes a fixed interest rate, equal monthly payments, and the first payment one month after borrowing. Excludes fees paid separately, variable rates, deferred interest, and promotional payment schedules. A 0% calculation means no interest for the entire entered term; it does not model a deferred-interest promotion. Verify the lender’s disclosures and approval terms.
How the payment is calculated
For a fixed-rate loan, monthly payment = P × r ÷ [1 − (1 + r)⁻ⁿ], where P is the amount borrowed, r is the annual interest rate divided by 12, and n is the number of monthly payments. Enter the annual rate as a percentage in the tool. At zero interest, payment is simply the amount borrowed divided by the number of payments.
Worked example: zero-interest arithmetic
A hypothetical $12,000 loan at 0% interest for the entire 24-month term would require $500 per month and total $12,000. This example does not advertise an available loan. A deferred-interest promotion has different conditions.
Check the contract rate, APR, and promotion separately
APR accounts for borrowing costs and can differ from the interest rate used to calculate a payment. Use the contract interest rate here and compare lender disclosures for fees, payment timing, and total cost. Deferred interest may become payable if a promotional balance is not paid in full by its deadline.
Sources: CFPB explanation of deferred interest and CFPB Truth in Lending examination guidance.
For project-specific options, visit roof financing. Confirm actual approval, rates, and terms with the lender.
Plan your next step
Use these tools to prepare questions and compare scopes. An inspection establishes the condition and measurements of your actual roof.