Residential real estate loan, financial concept : House model, coins, US dollar bag, white clock on a table, depicts home loan or borrowing money to buy / purchase a new home for first time homebuyer

What to Do When You Can’t Afford Foundation Repair

Repairing a damaged foundation is essential for living safely and comfortably in your home. Despite this fact, homeowners sometimes delay this important work due to worries about excessive costs.

If that sounds like you, then we have good news. Align Foundation Repair offers financing terms with no prepayment penalty and payments as low as $125 a month. You can get all the details by calling us today.

There are also a number of other ways to access foundation repair financing services. These include home equity loans, cash out refinancing, credit cards, personal cash loans, and government-sponsored loans and grants. Each is worth considering as you explore your options.

Home equity loans

Home ownership is an excellent financial investment. That’s because most homes acquire equity over time, allowing the owner to tap into that value to obtain cash.

Home equity loans vary widely in terms of available amounts, interest rates, and requirements for approval. We encourage you to explore all of these opportunities, even if your credit is less than perfect. You never know what’s available until you look around.

Cash out refinancing

Refinancing offers many potential benefits, such as a lower interest rate and smaller monthly payments. It may also give you cash you need to pay for foundation repair.

Like home equity loans, cash out refinancing programs vary widely. This is another situation in which exploring all of your options can pay off in a big way. Just make sure that you only deal with reputable and established lenders. You may find the perfect opportunity for your needs.

Credit cards

Credit cards are great things to have on hand when the unexpected knocks at your door. If your available credit isn’t enough to cover your foundation repairs, then you may want to ask the company for an increase. In many cases, the bank is happy to grant the request.

Personal cash loans

These are available from banks and finance companies across the country. Usually, all you need is reasonably good credit and a small amount of collateral.

You may also want to reach out to friends or family members for help with foundation repair financing options. A damaged foundation is a serious problem that requires immediate attention for your safety and well-being. The sooner you have the work done, the sooner you can put the problem behind you.

Government-sponsored loans and grants

Uncle Sam offers several programs designed to help homeowners keep their residences in good repair. We recommend contacting the responsible government agency directly rather than working through a third party. That way, you avoid unnecessary service fees and waiting periods.

One more thing: you may find that foundation repair is more affordable than you think. For that reason, we invite you to contact us here at Align Foundation Repair today for your free, no-obligation quote. At the very least, you’ll have the facts you need to make an informed decision.

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