couple catches water in pot for emergency home repair

Using A Line Of Credit To Help With Emergency Home Repairs  

Home repair can be complicated, especially when an emergency repair becomes a bigger ordeal. That can wipe out savings and still leave you with a bill you must figure out how to pay. Thankfully, Tennesssee Title Loans, Inc. offers a line of credit loan to help you face a financial emergency.

Homeowners can navigate paying for ongoing home repairs using some simple methods and options. Knowing what you can do to keep up with repairs can ease your stress and keep your family warm, safe, and dry. Below are some ways to pay for a home repair, even with less-than-perfect credit. 

How Can You Get A Flex Loan For Emergency Home Repairs?

Filing An Insurance Claim

The insurer for your home may cover many repairs. The repairs covered are typically caused by storm damage, but a policy may also cover things like broken pipes and damage to your home from flooding, even if the water damage is from a broken pipe. You will need to talk to your insurance agent about coverage. 

The only problem with insurance is that insurers have limitations on how many claims you can file before they cancel you. One major company allows homeowners to file two claims every three years. 

man repairing home using emergency line of credit

File A Home Warranty Claim

Home warranty companies will pay for damage done to appliances in most cases, regardless of the cause. You will need to buy a home warranty first and keep it for at least six months before filing a claim.

Those with appliances nearing five years old will find this helpful. However, like home insurers, you can only file so many times before the warranty company will cancel you. 

Get Repair Company Financing

Many home repair companies, particularly those who deal with heating and air units, roofs, plumbing, and others who do significant repairs, work with third-party finance companies to help homeowners. They can send in forms for you, and some will contact multiple finance companies until they find one who will fund the project.

It depends on the repair company. Typically, this is an option with larger companies rather than small, independent ones. The only problem with this option is that finance companies will check your credit. Some will approve those with lower credit scores, but many will not, which can be hit-and-miss. It's still an option worth considering. 

Get A Line Of Credit

Another option that many can use is to get a line of credit. You can do this with a bank, but there will be a better solution for those with lower credit scores, no credit, lower income, or those who just got a job, freelancers, and the self-employed. Homeowners in those situations should look at a line of credit using alternative financing.

Alternative financing is loans given by private lenders. This includes payday loans, title loans, and installment loans. Tennessee Title Loans, Inc. offers lines of credit to pay for ongoing expenses over time

Lines of credit loans, also called flex loans, are a hybrid of a title loan and an installment loan. The borrower is granted a loan limit but can take some money out immediately. They use what they need and make payments only on the money they borrow. 

As they repay, that money becomes available again, like what happens with a credit card and other types of revolving credit. They can continue to use the line of credit as they need as long as they make the payments.  

flex loans tn cash

Line Of Credit In Tennessee

Tennessee Title Loans Inc. is one reputable place offering a line of credit or flex loans. We provide a maximum of $4,000 in line of credit loans. Requirements are having a driver's license or state-issued ID, a clean title to your vehicle, your vehicle available for inspection, and proof of income such as your most recent pay stub. 

The process of seeking this type of loan is easy with Tennessee Title Loans Inc. First, you fill out the online inquiry form, and a loan representative will contact you. They will talk to you about the loan, answer questions, and help schedule an appointment with a loan representative. 

A visit with a loan representative will allow them to verify your documents, give your vehicle an inspection, and guide you through the simple paperwork. The process takes as little as a half hour, and you will have a decision before you leave.

No waiting on a phone call or something in the mail! Those approved will have access to money either the same day or the following business day. That means your home repairs can continue without a hitch. 

Submit The Online Form Today

All it takes to get started is to fill out the inquiry form. We at Tennessee Title Loans, Inc. will help you through the rest. Finding money to fund an emergency couldn't be simpler! Using the equity you've already put into a vehicle for a line of credit loan can be an easy, hassle-free way to fund your home repair. Send in the online form 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.