Article from Feb 28th 2023 posted on Homelight
When old windows, a roof, or a heater break down, making repairs can suddenly become your top priority. But getting the money to fix your home can sometimes be difficult. Fortunately, there are options to help make your house a safe, functioning sanctuary even when you can’t afford home repairs.
In this post, you’ll discover 10 ways to ease the cost of home repairs. We’ve consulted with experienced experts, including:
- Tyler Tapley, a top real estate agent who works with over 71% more single-family homes than the average agent in the Memphis, Tennessee area.
- Paula Bush, the executive director for the North West Housing Partnership located in Schaumburg, Illinois.
Their insights, along with our extensive research, will provide you with some of the best resources available to finance your repairs and, in some cases, even suggest free or lower-cost solutions to get your to-do list done.
Table of Contents:
- Apply for a home equity line of credit (HELOC)
- Use a cash-out refinance to unlock money for repair
- Apply for a home repair loan
- Leverage a nonprofit community development program
- Seek out a government loan or grant
- Look for local home improvement financing programs
- File a homeowners insurance claim
- Apply for disaster relief money
- Credit cards and other financing options for repairs
- Utility energy-saving programs
- Options for selling a house in poor condition
Bottom line: Don’t despair about expensive repairs
Read the full article here
About North West Housing Partnership
North West Housing Partnership (NWHP) promotes public and private partnerships that create and preserve cost-effective quality diverse housing for low to moderate income residents and workers through housing development and renovation, education and advocacy.
The North West Housing Partnership program services areas include Des Plaines, Hoffman Estates, Schaumburg for the home repair program; Bellwood, Berwyn, Maywood, Oak Park and Forest Park for single family for sale housing program; and other parts of the northwest suburbs and Chicagoland area for senior rental housing and for sale housing.
For more information about NWHP programs and service areas, please call us at 847-969-0561.
U.S. Department of Housing & Urban Development- Approved Housing Counseling Agency
NWHP adheres to non-discriminatory practices and is an equal employment employer and serve clients with the greatest economic and social need, low-moderate income minority & persons with limited English proficiency.