How An Emergency House Repair Loan Can Help After A Hurricane Or Flood
July 21, 2021 | June Mckaig
Repairing your home after a natural disaster can be extremely expensive, especially if your insurance policy doesn't cover what happened. The average house renovation costs thousands of dollars, but the average person has less than $3,000 in the bank for emergencies. If you are in South Carolina, one option you have is a house repair loan to help you out.
What Is A House Repair Loan?
A house repair loan is a lump sum of borrowed cash used to pay for unexpected expenses and major or minor repairs to your property. It can be in any amount as long as it takes care of the most important things. However, the best home repair loan won't wreck your credit even if you get as much as the state will allow.
For example, you can get up to $15,000 from Carolina Title Loans, Inc. if you meet specific qualifications. You must be at least 18 years old to apply but you don't need perfect credit and there's not a lot of collateral required either. In fact, for our title loan, you only need to put your vehicle’s lien-free title as collateral.
Plus, the process is extremely fast and simple, leaving you with more time to handle to nitty-gritty details of home renovation.
When Do You Need A House Repair Loan?
An emergency house repair loan is important because it can help save you money in the long run because you aren’t blowing through your own expenses to pay off the home repair bills.
Not only can it prevent damages from getting worse from neglect but it can also reduce your overall expenses if you're smart. Use the money for the right things and avoid going through traditional banks that make the process virtually impossible.
The average person in this country has a credit score of around 710 or lower, but banks usually want much higher scores to approve loan applications. So, here are the three best times to make your move when all else fails:
- When your insurance company won't cover the damages. Not all insurance policies are comprehensive enough to cover acts of God, so review your contract and see if you can boost it to include coverage for natural disasters like hurricanes, floods, wind damage, hail, and lightning strikes.
- When you don't want to make a claim on your policy. Claiming damages on your insurance policy can raise your rates and you may still fall short of the amount you need. Getting a title loan from South Carolina can help when your own finances and insurance just don’t cover everything.
- When a simple upgrade would prevent it from happening again. Are the current damages the result of property neglect? Would the situation have been different if the damaged section were adequately protected? Sometimes, you just need a few preventative measures to get things back on an even keel.
How Much Money Will You Get On A House Repair Loan?
Footing the bill for home renovations is stressful. Maybe if you collect all of your resources you'll have enough to take care of it. Or you could consider getting a house repair loan to save some time and energy.
If you're looking for "title loans in my area" then you will find that Carolina Title Loans, Inc. likely has one of its South Carolina locations near you.
Next, write out a budget to determine how much money you need. Be sure to leave room for fluctuating prices and surprise costs that may spring up out of nowhere. Most home repair projects will run you about $500 to $20,000 depending on the extent of the damage. So, talk to your contracting team for more specific information.
Remember that with title loans, our loan representatives will determine how much you could get, so knowing how much you need will be a good indicator of how much this loan could possibly help.
How To Get A House Repair Loan
Are you still looking for title loans in my area because you can't get a bank loan and your insurance isn’t covering all the costs? Getting a title loan from Carolina Title Loans, Inc. is not complicated. Just follow our short guide to get a better understanding:
- Start the process online. Carolina Title Loans, Inc. has a short intake form that you can fill out to get going right away. An agent will review the information and then contact you with further steps and will inform you of the required items you need.
- During the call, you can let the representative know where they can come meet you if you’d rather not come to the store. Either way, to get title loans in my area, have your vehicle for an inspection, the lien-free title to it in your name, and your driver's license or a state-issued photo ID.
- The loan representative will decide how much you could get and if you qualify for approval. If you do, we will go over the loan terms and have you finish the paperwork. Once finished, you will either get the money the same day or the next bank business day.
Get Your House Repair Loan Today
Getting a title loan as a house repair loan can help you get out of a tight financial bind. So, search for title loans in my area to get started on the process. Fill out the online form on our Carolina Title Loans, Inc. website to get started.