emergency home repair loans

How to Get Emergency Home Repair Loans

One of the worst aspects of needing emergency home repairs is that you can never tell when they are going to happen. They occur with no warning and require immediate remedy. For this reason, you may find yourself looking for emergency home repair loans and how to go about getting them.

If you need to address an unexpected home repair but are short on funds, don’t get too stressed. There are a few options you can explore to help you get repairs done.

What Emergency Home Repair Loans Are There?

The type of loan you get largely depends on the severity of the home repair needed. For major problems, you may require a long-term, large sum loan. Smaller repairs would require loans for a small amount of money, where you can pay the loan back in the short term.

To keep your repair costs low, you will want to address any problems you may have the moment they arise. This will prevent the situation from getting worse and requiring a large long-term loan.

Need Large Emergency Home Repair Loans?

You may need a large sum of money to repair your home for severe and extensive home repairs such as the following:

  • Needing a new foundation
  • Repairing your whole roof
  • Electrical rewiring throughout the whole house

If you need large home repairs, a home equity loan can provide you with a long-term loan for large amounts.

How to Get a Home Equity Loan

A home equity loan is considered long-term because it is typically paid back over several years at a fixed rate. In essence, a home equity loan acts like a second mortgage. To get one, you need to have/provide the following documents to your lender:

  • 15% to 20% of equity available in your home (this is the portion of your mortgage that is already paid off).
  • 620 or higher credit score
  • A low debt-to-income ratio
  • An appraisal to confirm the value of your household
  • Income documentation
  • Mortgage statement
  • Property tax bill
  • Copy of your homeowner’s insurance

You can apply for a home equity loan through a bank, credit union, or even an online lender of your choosing.

loan for home repair

Need Small Emergency Home Repair Loans?

Small home repairs like the following can require a short-term loan for a small sum of money:

  • Heating or air conditioning repair
  • Water heater repair
  • Burst pipes and ensuing water damage
  • Mold removal

For smaller emergency home repair loans, there is no need to take out a long-term loan. Sometimes you just need a temporary financial solution to get funds you know you would otherwise have over a small period.

Personal loans, such as title loans, can help provide you with the means to remedy your home repair needs.

How to Get a Title Loan

Unlike with a home equity loan, getting a title loan requires fewer documents to qualify. To be able to apply, you will need to provide your lender with the following items:

  • A driver’s license or state-issued I.D.
  • A lien-free title to your vehicle
  • Access to the vehicle for inspection

The bright side of using a title loan as an emergency home repair loan is how fast it is to apply and get the funds. In just a few steps you can get the funds you need the same day or the following business day from when you apply. To apply:

  1. Call or submit an online inquiry form to speak to a representative about what is needed, set up vehicle inspection time, and ask any questions you may have.
  2. Bring the required documents and have your vehicle inspected to find out your loan offer amount.
  3. Finish the final paperwork and set up payment options to receive funds.

title loan

Does a Title Loan Meet Your Home Repair Needs?

If a title loan sounds like the right solution for you, you can get your home repair needs met with Delaware Title Loans, Inc.

They offer an easy way to get started with an online form so that you don’t have to wait on hold for a representative. A representative will call you once they receive your information and will walk you through every step of the application process.

Delaware Title Loans, Inc. also offers customers the following perks:

  • Anywhere from $300 to $15,000 in loans
  • Welcomes all types of credit- that means good, bad, or nonexistent!
  • An inspection site of your choice! If you don’t want to leave your house, you don’t have to!

Getting a loan with Delaware Title Loans, Inc. takes as little as 30 minutes to find out if you are approved.

Apply Today

Don’t give that home repair time to worsen and find out if you qualify for a loan. If your emergency requires an immediate solution, submit an online inquiry form with Delaware Title Loans, Inc. today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.