Last reviewed October 31, 2026.
The roofer says the roof needs to come off this year, not in five, and the savings were meant for something else. The choices come down to a plan the roofer arranges, a loan against the house, or one of the public programs that help with repairs, and each one has terms that matter more than the monthly payment.
What Long Island roofers disclose about payment plans
Three Long Island roofers publish enough about their plans to compare, in very different amounts of detail:
| Company | What it publishes |
|---|---|
| Rapid Roofing | A 24-month deferred interest plan with a 10 percent dealer fee. A standard 5-year plan at 9.99 percent with a 4 percent dealer fee, both through Service Finance Company only. Also 3, 7, 10 and 15-year terms, and no-interest terms of 6, 12 or 24 months. |
| Tom Jannace Roofing, Stony Brook | Financing from Enhancify and its partner lenders, a soft credit check to apply, subject to credit approval, with terms and rates that vary by lender. |
| LI Roofing Co. | Same-day approval for qualified applicants, no prepayment penalties, a soft credit pull, and no deposit on any project. It names no lender. |
Tom Jannace Roofing’s November 2025 guide puts roof loan rates anywhere from a 0 percent promotion to 36 percent, depending on credit score, loan type and lender.
The dealer fee inside a financed roof
A dealer fee is what the lender charges the contractor for offering the plan. Rapid Roofing is unusually open about it: 10 percent on its deferred interest plan and 4 percent on its 5-year loan. Tom Jannace Roofing writes that some contractors add 2 to 5 percent to the project cost when a customer finances, and suggests asking for the cash price and the financed price separately.
That is the comparison to make. If two quotes look equal but one assumes financing, the fee may already be built into it.
Deferred interest is not the same as no interest
A deferred interest plan charges nothing if the balance is paid in full by the deadline. The Consumer Financial Protection Bureau says that if any balance is left, interest is charged going back to the date of purchase, and that falling more than 60 days behind on a minimum payment can end the promotion early. In a 2017 release, the bureau said a small leftover balance can produce more in interest than the balance itself.
Rapid Roofing also lists no-interest terms of 6, 12 or 24 months. Ask whether a term is true zero interest or deferred interest, and get the answer from the lender’s paperwork, not the sales pitch.
Home equity, personal loans and FHA Title I
A home equity line of credit borrows against the value of the house. The CFPB says these lines usually carry a variable rate, so payments can change month to month, and that falling behind could cost you the home. Tom Jannace Roofing describes personal loans from banks or online lenders as a lump sum with fixed monthly payments.
For owners with little equity, the federal FHA Title I program insures home improvement loans made by private lenders. The FDIC’s guide to the program gives these terms:
| Title I rule | Detail |
|---|---|
| Maximum, single-family house | $25,000 |
| Longest term | 20 years |
| Rate | Fixed, at market rates |
| Security | Loans above $7,500 need a recorded lien on the house |
| Income limit | None |
| Occupancy | The home must have been occupied at least 90 days |
| Lender | Only lenders HUD approves for Title I |
The work has to protect or improve the basic livability or utility of the property, and the loan cannot pay for work finished before the application. HUD keeps a list of approved Title I lenders on its site.
When a NYSERDA loan can pay for roof work
New York’s Green Jobs-Green New York loans, run by NYSERDA, are for energy work, not roofing on its own. The law behind them lists “roof, chimney, fireplace and roof vent repair” only “insofar as such repairs are determined by an energy audit to be necessary to mitigate energy loss or resolve energy-system related health and safety issues.”
NYSERDA’s manual for participating contractors says a loan needs an energy audit or assessment first, and that health, safety and ancillary work cannot exceed 50 percent of the loan. So roof repair can go into one of these loans only when an energy audit calls for it, and a reroof for its own sake is not on the list.
Repair grants and zero-interest loans in Nassau and Suffolk
Nassau County’s Office of Community Development says the Towns of Hempstead, North Hempstead and Oyster Bay run their own residential rehabilitation programs, and everyone else starts with their own village or city. Before work starts, the owner signs a 5-year, interest-free forgivable note and mortgage. The county’s number is (516) 571-0200.
The Town of North Hempstead’s October 2026 flyer is the most specific:
| North Hempstead CDA program | Detail |
|---|---|
| Grants | Up to $15,000 |
| Repair loans | Up to $35,000, no interest, deferred payment |
| Accessibility loans | Up to $50,000 |
| Covers | Leaks, safety, heat, code issues, accessibility and energy work, not cosmetic remodeling |
| Who qualifies | Unincorporated-area owners living in the home at least a year, taxes current, no foreclosure |
| Income limit | 80 percent of HUD area median, $131,900 for a family of four |
| Contact | (516) 869-2480 |
In Suffolk, the county’s HOME rehabilitation money is for low-income owners living in the home, on property worth no more than 95 percent of the area’s median purchase price after the repairs. The county does not contract with homeowners directly. Its participating towns are East Hampton, Huntington, Riverhead, Shelter Island, Smithtown, Southampton and Southold, plus the villages of Greenport, Sag Harbor, Southampton, the Branch, Westhampton Beach and Westhampton Dunes. Call (631) 853-5705 to find your local office.
Deposits and escrow under New York law
Article 36-A of the General Business Law, the state’s home improvement contract law, sets payment rules that apply however the job is financed. Section 771 requires a schedule of progress payments in dollars and cents, with each payment bearing “a reasonable relationship to the amount of work to be performed.” Under Lien Law Section 71-a, anything you pay before the work is substantially complete has to go into an escrow account within five business days, unless the contractor posts a bond, contract of indemnity or letter of credit guaranteeing its return. Roofers have a stricter rule. General Business Law 771-b, added in 2019, says a roofing contractor shall not require a deposit for the work and materials. It may invoice for materials when they arrive, if their cost was disclosed in writing beforehand, and invoice the rest after the work is finished.
The right to cancel and the county license rules are covered in our Nassau and Suffolk license guides. To see what the loan will be paying for, start with the roof replacement cost guide.
