Financing Resources for Your Home Improvements
Paying for your Roofing, Siding, Window & Exteriors
Quality home improvements protect your investment and increase your property value. We’ve compiled Wisconsin’s most reliable financing resources to help you move forward with essential roofing, siding, insulation, and window projects—without the predatory terms or surprise costs that plague too many homeowners.
Financing Options for Everyone
Here at South Central Wisconsin Roofing, we believe in providing our clients with ALL OF THE OPTIONS that are available to them, including ones they may not even know exist.
Our goal is to make your home improvement project a reality no matter what your background, credit score, or situation is.
- Good Credit
- Bad Credit
- Low Income
- Federal Programs
- State Programs
- Traditional Lending
Home Improvement Financing & Grant Resources
Federal & State Programs
FHA 203(k) Rehabilitation Loan Program
Program Overview
The FHA 203(k) Rehabilitation Mortgage Insurance Program combines home purchase or refinancing with renovation costs in a single government-insured loan for homes at least one year old.
This FHA-insured financing provides both affordability and lender protection throughout the renovation process. Funding is made through local banks, credit unions, and mortgage lenders.
** Challenged credit scores accepted.
Limited
For improvements up to $35,000
- Roofing, Windows, Flooring
- Kitchen & Bath Updates
- Electrical or plumbing upgrades
- No consultant or architect required
Standard
Renovations exceeding $35,000
- Major structural changes
- Room additions
- Significant remodeling requiring architectural plans
USDA 504 Loans & Grants (Low Income)
Program Overview
This program specifically caters to those in rural areas (population of 10,000 and under) with very low income in order to help them make repairs and improvements to their home.
Grants are available to the very low-income elderly homeowners to remove health and safety hazards.
Please contact your local USDA office, which can be found in our Resource Links regarding the application process, funding, and a possible waiting list. Applying early for this program is encouraged.
** Challenged credit scores accepted.
Loans
For improvements up to $40,000
- Home Repairs
- Updating Exteriors & Interiors
- Modernizations - Essential Appliances: Water hear, fridge, stove, furnace, etc.
- Home Improvement Projects
Grants
Up to $10,000 requires no repayment and can be combined with loans mentioned above.
- Removing health hazards
- Fixing safety hazards
WHEDA Home Improvement Loan Program (HILP)
Program Overview
Wisconsin homeowners can finance necessary repairs and improvements through WHEDA’s Home Improvement Loan Program (HILP). Whether you’re replacing major systems or adding square footage, HILP provides funding even if you don’t have an existing WHEDA loan. To qualify, you’ll need to be current on your mortgage with good payment history and strong credit.
** Minimum credit score of 620.
HILP Features
- Available to Current Home Owners
- Closing cost credit of up to $500, paid by WHEDA
- Loan amounts between $10,000-$50,000 (up to 125% combined loan to value)
- Closing costs can be financed into the loan, if allowable
- Up to 6 months to complete renovations/improvements
Links to Resources
WHEDA More Like Home Program
Program Overview
WHEDA’s More Like Home™ Repair & Renew Loan offers lower-than-market rate financing up to $50,000 for Wisconsin homeowners with homes built before 1984. The program covers essential repairs including roofing, windows, doors, heating, electrical, plumbing systems, and removal of environmental hazards like lead paint, asbestos, and mold. To qualify, the home must be your primary residence, you must meet income limits, and work must be completed by a licensed and insured contractor.
Loans are available through participating lenders on a first-come, first-served basis until the $50 million in funding is depleted.
** No minimum credit score.
More Like Home Features
- Lower-than-market rate loan
- Used only for qualifying repair
- Must be completed by a licensed and insured contractor
- May not exceed $50,000
- Must be one of the following property types: single-family residence, condo, 2-unit, or manufactured
- Must occupy the home as their primary residence
- Must have been constructed at least 40 years prior to the date of the loan application
- Determined by the specific repair work needed
- Determined by the specific repair work needed
Links to Resources
FHA 203(k) Rehabilitation Loan Program
Program Overview
The FHA 203(k) Rehabilitation Mortgage Insurance Program combines home purchase or refinancing with renovation costs in a single government-insured loan for homes at least one year old.
This FHA-insured financing provides both affordability and lender protection throughout the renovation process. Funding is made through local banks, credit unions, and mortgage lenders.
Limited
For improvements up to $35,000
- Roofing, Windows, Flooring
- Kitchen & Bath Updates
- Electrical or plumbing upgrades
- No consultant or architect required
Standard
Renovations exceeding $35,000
- Major structural changes
- Room additions
- Significant remodeling requiring architectural plans
USDA 504 Loans & Grants (Low Income)
Program Overview
This program specifically caters to those in rural areas with very low income in order to help them make repairs and improvements to their home.
Grants are available to the very low-income elderly homeowners to remove health and safety hazards.
Please contact your local USDA office, which can be found in our Resource Links regarding the application process, funding, and a possible waiting list. Applying early for this program is encouraged.
Loans
For improvements up to $40,000
- Home Repairs
- Updating Exteriors & Interiors
- Modernizations - Essential Appliances: Water hear, fridge, stove, furnace, etc.
- Home Improvement Projects
Grants
Up to $10,000 requires no repayment and can be combined with loans mentioned above.
- Removing health hazards
- Fixing safety hazards
WHEDA Home Improvement Loan Program (HILP)
Program Overview
HILP Features
- Available to Current Home Owners
- Closing cost credit of up to $500, paid by WHEDA
- Loan amounts between $10,000-$50,000 (up to 125% combined loan to value)
- Closing costs can be financed into the loan, if allowable
- Up to 6 months to complete renovations/improvements
Links to Resources
WHEDA More Like Home Program
Program Overview
WHEDA’s More Like Home™ Repair & Renew Loan offers lower-than-market rate financing up to $50,000 for Wisconsin homeowners with homes built before 1984. The program covers essential repairs including roofing, windows, doors, heating, electrical, plumbing systems, and removal of environmental hazards like lead paint, asbestos, and mold. To qualify, the home must be your primary residence, you must meet income limits, and work must be completed by a licensed and insured contractor.
Loans are available through participating lenders on a first-come, first-served basis until the $50 million in funding is depleted.
More Like Home Features
- Lower-than-market rate loan
- Used only for qualifying repair
- Must be completed by a licensed and insured contractor
- May not exceed $50,000
- Must be one of the following property types: single-family residence, condo, 2-unit, or manufactured
- Must occupy the home as their primary residence
- Must have been constructed at least 40 years prior to the date of the loan application
- Determined by the specific repair work needed
- Determined by the specific repair work needed
Links to Resources
Traditional Lending
Home Equity Loan
Fixed-Rate Borrowing
A home equity loan provides a lump sum of cash based on your home’s equity, repaid over a fixed term with consistent monthly payments. You borrow against the value you’ve built in your home, typically accessing 80-90% of your equity. Because your home secures the loan, rates are generally lower than unsecured options—but your property is at risk if you can’t repay.
- Requires substantial equity in your home (typically 15-20% minimum)
- Requires substantial equity in your home (typically 15-20% minimum)
- Fixed interest rate and predictable monthly payments
- May require appraisal and closing costs (1-5% of loan amount)
- Interest may be tax-deductible if used for home improvements (consult tax advisor)
- Best for: Large, one-time projects with known costs
HELOC
Home Equity
A Home Equity Line of Credit (HELOC) works like a credit card secured by your home equity. You’re approved for a maximum credit line and draw funds as needed during the “draw period” (typically 5-15 years), paying interest only on what you use. After the draw period ends, you enter repayment phase where you can no longer borrow and must pay back principal plus interest.
- Variable interest rates that can increase over time
- Places a lien on your property; foreclosure risk if you default
- Draw period flexibility can lead to overborrowing
- Payment shock when transitioning from draw period to repayment period
- Minimum draw requirements or annual fees may apply
- Requires home equity (typically 15-20% minimum)
- May require appraisal and closing costs
- Best for: Ongoing projects with variable costs or multiple smaller projects over time
Personal Loan
No Collateral Financing
Personal loans provide a lump sum repaid over a fixed term without using your home as collateral. Approval and rates depend on your credit score, income, and debt-to-income ratio. Wisconsin credit unions often offer the most competitive rates and flexible terms, with federal credit unions capped at 18% APR by law.
- No lien on your home; your property isn't at risk
- Typically higher interest rates than home equity options (5.99% - 24%+)
- No appraisal or closing costs required
- Loan amounts typically capped at $25,000 - $100,000
- Fixed interest rates and predictable monthly payments
- Requires good credit for best rates (though credit unions more flexible)
- Best for: Homeowners without substantial equity, smaller projects, or those wanting to keep home unencumbered
0% for 12 Months Financing Option
- Roofing: Asphalt shingles, metal roofing, flat roof systems, roof repairs
- Siding: Vinyl siding, LP Smart Siding, metal siding installation
- Windows: Window replacement and installation
- Gutters: Seamless gutter systems, gutter guards
- Insulation: Attic insulation, spray foam, blown-in insulation
- Soffits & Facia: Aluminum soffit and fascia installation