What to Do if You Can’t Afford Foundation Repair

financing foundation repair

If you have recently realized that your home is in need of foundation repair, you might have decided that you will have to put off the repairs until you have more money. However, the truth is that you truly cannot afford not to fix the foundation of your home if it is damaged.

Foundation repair isn’t something that is going to get better on its own –it’ll get worse and worse until your home is at serious risk of collapsing, and depending on the extent of the existing damage and some other environmental factors, this could happen more quickly than you think.

Even though you might understand the importance of repairing your faulty foundation, you may be worried about how you are going to pay for it. If you don’t have the money readily available and ready for use, there are other foundation repair payment options available to you. There are actually a few ways that you can pay for foundation repair – following are some of these options you may consider so that you can have your home’s foundation repaired sooner rather than later.

Take Out a Home Equity Loan

If you have equity in your home, you might be able to take out a home equity loan to fix your foundation. In fact, your mortgage lender might appreciate it because you’ll be preserving the collateral! Go to your local branch and talk to your mortgage lender about it. You may be able to get the loan more easily than you think, and interest rates are generally surprisingly low on these types of loans.

Get on a Payment Plan

You might not think that your foundation repair company will work with you, but these companies are more understanding than you think. This might not always be the case, but it is with Perma-Pier Foundation Repair of Texas.

We understand that foundation repair can be costly and the importance having these repairs done as soon as possible. Although foundation repair companies will not actually finance the job for you, they will set you up with one of several third-party financing options to help make your purchase more affordable. Then, you can make monthly payments until the cost is paid in full.

Put it on a Credit Card

The idea of going into debt to repair the foundation of your home might not be appealing, but it’s better than allowing your foundation to continue to deteriorate and get worse. Check the terms that are available with your other financing options, such as the options through a foundation repair company. Then, compare these terms with the interest rates and monthly payments that you will pay if you pay with a credit card. You might find that using your credit card is a better option, and most companies will accept major credit cards without a problem.

Pay It When You Sell It

If you are selling your home and need to repair the foundation along the way, you can look into striking a deal with Perma-Pier Foundation Repair of Texas. We will actually get paid after the home is sold, and the amount will simply be subtracted from the equity that you would otherwise be given. This can be a great option if you are going through the stress of selling a home and want to make things as easy for yourself as possible.

As you can see, there are multiple ways to pay for foundation repair to your home. If your home is in need of repair, contact Perma-Pier Foundation Repair of Texas to find out more about the many ways that you can pay for it.

Transferable Warranty

Learn about Perma-Pier’s transferrable warranty, and why our history in Texas makes our warranty worth so much more than most warranties out there.

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