If you need help with home repairs, there are programs available. These help programs are known by many names: free grants, loan programs, relief service, repair assistance, and more. They are designed to provide critical free home repairs, home modification and improvements for low-income seniors, adults and families. Most counties and most major cities have approved local home repair and government grant programs to help homeowners make needed repairs and improve their homes.
If your household income is too high for most city or county home improvement programs, consider a personal or home improvement loan to fund emergency and routine repairs. These loans can have lower interest rates than a home equity option and typically do not require the use of your home as collateral. Some lenders offer same-day or next-day funding and extended repayment terms.
Some contractors also offer contractor financing that can help with the cost of your home repairs. These loans are often available with low rates, monthly payments that fit your budget and fast funding to get the work started quickly. If you already own your home and have plenty of equity, you can take out a home equity line of credit (HELOC) that offers competitive rates, flexible terms and access to funds that can be used for multiple purposes. See NerdWallet’s Ratings of the best HELOC providers for more information.