Home Repair Financing

Get rates for home repair loans in under 60 seconds without impacting your credit score.
How much would you like to finance?

Home Repair Financing With Acorn Finance

Check New Loan Offers With No Impact To Your Credit Score


Get Your Financing Quickly

Easy Monthly Payments

Secure Home Repair Financing Today

Whether you’re in need of an emergency repair loan or have finally decided to fix something after years of keeping it on the backburner, Acorn Finance can help. Secure loans up to $100,000 with some of the lowest rates in town. Repair your home and keep cash in your wallet by financing through Acorn Finance.

Acorn Finance Icon

How We're Different

Get Offers in Seconds

Get pre-qualified for multiple loan offers with an easy online form.

Won't Impact Your Credit

Receive pre-qualified offers with no impact to your credit scores.

Competitive Payment Options

Loans up to $100,000; Terms up to 12 years; APRs as low as 3.99%.

Receive Funds Quickly

In some cases, receive funds in as little as one business day.

“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”


– Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”


– Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”


– Bob S (WI)

Ready To Secure Home Repair Financing?

Compare home repair financing options without affecting your credit score.


Best Home Home Repair Loans & Financing Options

Clink, clink, fizz, bang. Something is going on with your plumbing. When you don’t have enough cash on hand to cover important repairs, financing can be a life saver (or at least a basement flood saver). From roof fixes to front porch renovations, there are lots of repairs just can’t wait if you want to stay safe and dry at home.

House repair loans are the most common way to get your hands on the funds you need. But home repair grants may also be an option in some cases. If you’re worried about how you’ll pay for an emergency and/or much needed repair, here is the 101 to financing a home repair.

Read More

Can you finance home repairs?

Just about any type of home repair can be financed. Homeowners should explore the various financing options available to determine the best option. Homeowners may have different financial situations and goals that’s why there are different types of home repair loans. Most commonly homeowners use either a secured or unsecured loan for home repairs. Unsecured loans may be faster and easier to obtain but may have higher interest rates and lower loan amounts. However, unsecured loans do not require collateral making them a preferred loan type for some homeowners. Acorn Finance has top rated lending partners that offer unsecured personal loans for home repair up to $100,000.

What type of loan is best for home improvements?

The loan type that is best for home improvements usually depends on your finances. Other factors such as how much you need to borrow and how much you can afford to repay monthly should also be evaluated when determining what type of loan is best for home improvements. If you need to borrow $100,000+ you may be limited to secured loan options. Alternatively, if you absolutely need to make home improvements but are struggling to qualify or afford financing, you may need to consider options such as government loans and grants.

Can you get a home improvement loan with bad credit?

Securing a home improvement loan with bad credit may be feasible. However, if you do qualify, prepare yourself for a potentially high interest rate. In some cases you may have no option but to accept the loan and cover the interest charges. Other factors such as steady income or employment and consistent residency can increase your chance of approval. If you can successfully make on time payments during the loan term and pay the loan off, hopefully your credit score will improve so next time you may qualify for a lower interest rate. If you have bad credit you should consider applying with a co-applicant that has better credit than you do.

How can I fix my house with no money?

No money can mean a variety of things. For some, no money may mean no extra cash available for fixing your home. For others no money may mean no extra cash and no room in your budget to cover a monthly payment for a home repair loan. If you simply do not have a lump sum of extra cash you can get a home repair loan with no money down to fix your home. If you are unable to afford an additional monthly payment or do not qualify for financing, you may need to get creative. In some cases you may be able to find free materials and DIY home repairs. If this is not an option you should consider government loans or grants or possibly even a homeowners insurance claim.

How do I qualify for a home improvement loan?

Qualifying for a home improvement loan may be easier than you think. Regardless of the type of loan you intend to apply for you should have reliable income or assets that you can prove and a decent credit score. To qualify for an unsecured home improvement loan from one of Acorn Finance’s lending partners you should have a FICO score of 600 or higher.

How can I pay for expensive home repairs?

There are a few ways to pay for expensive home repairs – some options may be better than others. If planned home repairs exceed $100,000 your best option is most likely going to be a secured loan such as a home equity loan or home equity line of credit. If the planned home repairs are less than $100,000 you may be able to consider options such as unsecured personal loans or credit cards. In most cases, a personal loan makes more sense than a credit card. Homeowners can be tempted to pull out a credit card and swipe, but you should think twice. Credit cards can have high interest rates. In addition, using a credit card for expensive purchases that may not be paid off right away can lower your credit score. If you do not want to use financing to cover expensive home repairs you may need to dip into an emergency savings fund, if available.

What is the difference between a home improvement loan and a home equity loan?

In most cases a home equity loan will offer higher loan amounts, lower interest rates, and longer terms. Lenders typically have lower credit and default risk for home equity loans since the borrower is providing collateral. Home equity loans require homeowners to borrow against the positive equity in their home. This means, if they default on the loan, the bank or lender can take possession of the home. Home improvement loans are usually just unsecured personal loans designed for helping homeowners finance home improvements.

What credit score do you need to get a home improvement loan?

To get a home improvement loan you should have a FICO score of 600 or better. In some cases, lenders may make exceptions but don’t get your hopes up. If you have credit challenges it’s especially important to calculate monthly income properly and provide all information requested when applying for a home improvement loan. You should also avoid submitting multiple applications to lenders that are going to pull your credit. This can result in a decrease of your credit score. In the next section, we will discuss which loan company is best for borrowers with bad credit.

Which loan company is best for bad credit?

If you have bad credit, your best bet is most likely using an online lender. Lenders usually have different qualification requirements and borrowers usually have different credit scores and histories. There is not just one lender that helps bad credit borrowers but rather several. For example, let’s say you are trying to qualify for two lenders that both work with bad credit borrowers. One of the lenders requires borrowers to have 3 pieces of credit while the other lender requires 5. If you only have 3 pieces of credit you’ll most likely only qualify for one of the lenders. Anyways, the moral of the story here – credit score is important but it’s not everything. If you have bad credit you should submit an application at Acorn Finance to check offers in seconds.

What credit score is needed for a renovation loan?

The minimum credit score requirement can vary depending on the type of renovation loan and the lender. Lenders may lower minimum credit score requirements for secured loans versus unsecured loans. Secured loans require collateral which reduces the default risk for the lender. Borrowers with a FICO score of 600 or above should have an easier time qualifying for a renovation loan.

How much of a home improvement loan can I get?

Acorn Finance has lending partners that can offer home improvement loans up to $100,000. Homeowners can submit a painless application at Acorn Finance and check offers in seconds. Acorn Finance simplifies the home improvement loan process for homeowners by providing a secure platform and access to reliable lenders. Acorn Finance lending partners are motivated to send the most competitive offer possible in order to earn your business. Homeowners can receive funding in as little as 1 business day.

Is financing for home repairs right for me?

Financing home repairs makes a lot of sense for most homeowners. Home repairs may be necessary or optional. Optional or necessary home repairs may increase home value, thus justifying any extra cost incurred by financing. Home repairs that are necessary should not be ignored. Ignoring home repairs may cost homeowners more money in the long run.

What type of loan is best for home repairs?

Home repairs; they’re fun aren’t they? In some cases, you may plan home repairs. In some other cases, they may be a complete surprise. Whether they are planned or unplanned, you may need financing to pay for them. In most cases, the best way to finance home repairs is an unsecured personal loan. Personal loans are fairly easy to qualify for, do not require collateral, and can be funded in as little as 1 business day, although funding times may vary.
Alternatively, the contractor or handyman fixing the repair may offer financing. If they do, they likely partner with a 3rd party lender that can offer you a personal loan. If you are in a huge hurry, you may feel that you have no other choice but to sign up for their financing. While they may have a competitive offer, you should always compare offers.
At Acorn Finance, you can check personal loan offers for home repair financing within 60 seconds or less without impacting your credit score. Even under emergency circumstances, you should have at least 60 seconds to spare. Especially, if it could save you hundreds or thousands of dollars.

How can I get money to repair my house?

Whether you need to repair the interior or exterior of your home, you can get the money you need, even if you do not currently have it. Homeownership is expensive and lenders understand that. As a homeowner, keeping up with your home is extremely important. In some cases you may need a few simple repairs that cost a few hundred dollars. If you don’t have enough cash, you may be able to finance small repairs with a credit card.
However, as the repairs get larger and more expensive, a credit card can turn into a dangerous way to get the money you need for home repairs. Personal loans may be a better option. Personal loans can offer fixed terms and a fixed monthly payment. This means that prior to taking the loan or spending the money you will know exactly how much you owe on a monthly basis and how long you will need to make the payment. If you make all the payments for the right amount, on-time, your loan will be paid off by the end of the term.

Should I take out a loan for home repairs?

If you need to make home repairs or feel that you can recoup your money, then yes you probably should take out a loan. However, there are a few other things you will want to consider such as the monthly payment and the total loan cost.
If you can’t afford the monthly payment, you should not convince yourself to take out a loan for repairs, even if the repairs need to be done. You will need to find another way such as asking a friend or family member for help.
If you can afford the monthly payment and feel the total loan costs are reasonable, then you should proceed with the loan. Since you don’t borrow money for home repairs every day, it’s a good idea to compare offers to determine what is fair. Acorn Finance makes comparing personal loan offers simple and hassle-free.
At the end of the day, most home repairs can increase the value of your home. Even if the repairs do not make a cosmetic impact, they can increase home value. For example, if your HVAC system is not working properly, a potential buyer will need to factor in the cost of repair with their purchase price. Therefore, they may think the house is worth less. Keeping up with regular maintenance and repairs can save you money in the long term.

What qualifies as a home repair or improvement loan?

In most cases, a home improvement or home repair loan is just a personal loan that is used for home improvement or repair. However, any loan that provides the money you need to make home improvements or repairs could be considered a home improvement loan. When lenders offer home improvement loans, they are usually just offering personal loans. Secured loans such as home equity loans could be used for home improvement or repair too, but lenders usually won’t refer to them as a home improvement loan.

Are home repair loans hard to get?

If you have good credit, a home repair loan should not be hard to get. However, if you have less than perfect credit or a high debt-to-income ratio, a home repair loan may be harder to get. The difficulty of securing any loan can depend on several factors. Some of these factors include your credit score, income, debt-to-income ratio, the loan amount, the lender, and so on.
At Acorn Finance, you can get prequalified for a home improvement loan in seconds. Once you are prequalified for a home improvement loan, you may need to provide some documentation if the lender requests any. If the information you submitted on the initial application or form is true and accurate, the verification process of the loan should go smoothly. However, if there are discrepancies, the loan approval process may take longer. If things go smoothly, you may be able to receive funds in as little as 1 business day, although funding times may vary.

How do you repair a house with no money?

Repairing a house with no money will likely require some DIY work. While you may be able to patch things together temporarily, it may be best to fix things the right way the first time around. If you do not have the money you need for a home repair you should consider a home improvement loan.
If you are unable to get a loan at this time, you may want to check your local Craigslist or Facebook Marketplace for free materials and supplies that you may need for your home repair.

How long does it take to get approved for a home repair loan?

Let’s back it up here. You may or may not know that being preapproved and prequalified are different. In most cases, you can get prequalified fast. At Acorn Finance you can get prequalified in seconds. Once you are prequalified, the lender may request documents such as proof of income to turn your qualification into an approval. In addition, they may need to do a hard credit pull to finalize the offer.
If you are prequalified and can provide supporting documents that match the information you provided, there should not be any problems. Once you are prequalified you should know your interest rate, terms, and loan amount. If you move forward past the prequalification, you are moving toward securing funds. If you are not ready to borrow the money yet, you should hold off on moving forward with any pre qualifications. In most cases, pre qualified offers are good for 14-60 days, depending on the lender. At Acorn Finance, you can check offers and return at a later date to proceed, as long as offers have not expired.

Can You Get a Home Repair Loan to Fix Your House?

Most people have heard of refinancing or second mortgages. They may not realize there are specific loans out there just for completing repairs. Even better, some financing options could include grants and be targeted exclusively toward people in your area.

Home Repair Financing Options

OK, so financing for home loans exists. Knowing it’s out there is one thing. Wondering, “How can I get money to repair my house?” is another. Home repair financing comes in a variety of formats. Here are some of the most common avenues worth exploring:

Traditional Home Improvement Loans: Home improvement financing is typically unsecured. This means you might get an interest rate that’s slightly higher than a home loan. On the other hand, you don’t have to attach your property as collateral, which could be preferable when you’re happy with your current mortgage and don’t want to refinance. It’s also a reasonable option for people without a lot of equity. Check out credit unions and banks to see what they have to offer for people with your credit standing.

HELOC Financing: A Home Equity Line of Credit (HELOC) lets you tap into your home’s value. Because this type of loan is secured by your home, you can often score an incredible interest rate. Plus, your loan will have a long repayment period to keep payments low. With a HELOC, you can draw from it as needed — so you may be able to rely on it for future repairs, too.

Peer-to-Peer Lending: If you’re unable to get approved through a bank or credit union, a peer-to-peer loan may be available to you. Several investors will pitch in to finance your home repair loan, but you still just have one monthly payment. Interest rates can be higher, but the repayment periods are shorter. If you can swing the payments — you’ll be out of the debt in 3-5 years.

Government Loans and Grants: There are a number of options available to people who need repairs for safety and health. USDA Section 504 Home Repair grants, for instance, can help elderly and/or low-income people who are unable to obtain other types of credit to complete home repairs. Then there are local government loans. In St. Paul, MN, residence below a certain income can get a 4% interest loan for repairs including a new furnace or air-conditioning installation, roof replacement, and a new garage.

Homeowners Insurance Claim: Some costs will likely be covered by homeowners insurance — don’t forget to check your policy! You could mitigate the amount of money you need to borrow for a roof repair or damaged siding by filing a claim with your insurance first.

What to Know About Rentals and Other Unconventional Situations

Getting approved for home repair loans when you’re not fixing your primary residence can get tricky. Banks and credit unions often won’t approve loans for investment properties because they perceive the risk of default to be higher — if you lose your tenant and can’t find a new one, they assume you’ll stop paying back your loan. You can probably still find some funding, but you may want to turn to peer-to-peer lending or 0% interest credit cards rather than arguing with your bank.

Similarly, if you inherit a property that needs to be fixed before you can sell it, you may run into issues getting a conventional loan. If the loan is paid off when you inherit the home, it might be easy to get an equity loan. Grants, however, will be out of the question.

Most homeowners have some credit, so long as they’re on the mortgage. If you’re in the uncommon situation of not having enough credit established, though, it will also be a bit more challenging to find a loan. Stick with local credit unions or get a credit card for a few months and pay it on time to build up enough of a reputation (assuming your repair can wait). It may also be hard to get a home repair loan with bad credit. Peer-to-peer lending and grants are a good avenue to pursue when your credit score is low.

What to do when you can’t afford home repairs?

The stress of not being able to afford home repairs can take a toll on families and relationships. The first thing to do is consider whether the home repair needs to be fixed right away or if it can wait for a little while. If you determine that the repair needs to be fixed right away, you should consider taking out a loan to help pay for the repairs.
If the repairs can wait for a few months, consider budgeting tightly and saving money, if you can. Then, use the savings to pay for the repair. In addition to loans, there are many ways that you can pay for home emergency repairs.
Here are some of the most common ones:
Home equity lines of credit: This allows you to tap into the equity in your home when you need it. This can be a good way to borrow for repairs and home improvement projects. However, remember that it will put your home at risk. If you can’t make the payments on the loan, you will risk losing your home and other assets.
Homeowners insurance claim: Sometimes your insurance plan might pay for the home emergency repairs, depending on the case. This may require you to bring in an inspector and have them determine if the claim can be sent into the insurance.
Government home repair assistance: There are some loans given out by the Department of Housing and Urban Development. They are the FHA 203(k) and Limited 203(k). Both of these allow borrowers to have some proceeds that can be used for major repairs and other household items that need to be done to make your home more livable and comfortable. They can also help you pay for repairs and upgrades. They do not cover items that are considered luxury though.
Community development programs: These are usually administered by local or state governments. There are often restrictions for these programs, such as needing to be below a certain income level. Some programs are also only for senior citizens or disabled homeowners. You will need to check with your local housing office to see if you qualify for any of these programs.
Disaster relief: If your home was damaged by a natural disaster, you might need to see if there are some funds available to you to cover repairs. These funds are usually only for helping pay for major repairs and other repairs that make your home more sanitary. They will not give you enough funds to restore your home to the way it was before the natural disaster.
Credit card: Homeowners often use their credit cards for quick emergency fixes because it’s usually the easiest way to pay for things. However, it can also be the most expensive. If you use a credit card, try to pay it off as easily as possible and avoid late fees. Your available credit might also not be enough to get the entire repair done and you might be stuck looking for financing in other places as well.
Cash-out refinance: This is usually a last resort and only works if you have equity in your home. Cash-out refinances are usually only used if your home repairs are an emergency and will be very expensive. It can take time to shop around for a good refinance rate though. Try to take your time finding the best rate and making sure that refinancing makes sense.
Personal loans: Personal loans are one of the most popular ways to pay for home improvement projects like repairs. If your repair is an emergency, you might want to go with an online lender as they may be able to give your funds within a few days straight into your bank account. Traditional banks and credit unions might take longer to give you the funds you need. Personal loans are often the quickest way to get the funds you need for home repairs. In addition, you do not need to provide collateral when using an unsecured personal loan.

How do people afford home maintenance?

Affording home maintenance can be difficult if you are on a strict budget, but it’s important to pay for repairs and maintenance projects as soon as there is a potential problem. Waiting too long can make the problem worse and might cause you to have to pay more than what you initially might have needed.
Many people budget and put money aside every month for home maintenance projects. That way when a problem arises, you are able to pay for the improvement right away. However, this isn’t possible for everyone.
A common way of paying for home maintenance is to take out a personal loan from an online lender, bank, or credit union. Personal loans are often unsecured and don’t require you to provide collateral, thus making them easier to qualify for. Some people also use their credit cards for home maintenance because it is an easy way to pay for the things you need. However, it’s usually not the cheapest. Try to apply for a personal loan before racking up credit card debt.
You can also tap into your home equity. This might be required if you have a large home maintenance project that a personal loan might not be able to cover. Home equity loans usually offer lower interest rates than personal loans. However, your home is on the line because you are using it as collateral. This means you risk losing your home if you begin to default on the loan payments.
If your home is in need of repairs and TLC you should make a list of what it needs. Next, determine what the maintenance will cost. Can you complete any of the maintenance on your own? How much you need to borrow can influence the type of loan that is best. Once you know how much you need to borrow you can graduate to exploring the types of financing available.
Some government agencies and other programs also offer money to people who need help with home repairs if they meet certain criteria. It’s worth looking into, if you feel that you may qualify, before you take out a personal loan or charge repairs to your credit card.

How can I pay for home repairs like a roof with no money?

Roof issues are often serious and should be addressed quickly before more problems arise. First, you need to consider whether your roof needs to be replaced or repaired. You may be able to get a free inspection or estimate from a roofing company to determine how much your repair will cost. If you do not have cash available to repair the roof, you will need to use financing.
Certain contractors will allow you to finance through them. Ask your contractor if they offer payment plans and what you need to qualify. If they don’t have this as an option, you might want to look into home equity loans and personal loans.
A personal loan is unsecured, and the interest will depend on your credit score and debt-to-income ratio. A home equity loan will be based on your home’s value and your home will be used as collateral.

Can I get a home improvement loan with bad credit?

Getting any kind of home improvement loan will be tough if you do not have reasonably good credit. While you may qualify for a small loan amount, it’s unlikely that you will qualify for a large loan amount. If you need a home improvement loan and have bad credit, there are a few options to consider. First, can you apply with a cosigner? If you apply with a cosigner, the cosigner should have a good credit score. If you don’t have a cosigner you can move onto the next option. The next option is to apply for a secured loan such as a home equity loan. A home equity loan will require you to have equity in your home. You will also need to use your home as collateral. If neither of these options work for you, you may want to try to break your home improvement projects down into smaller projects. If you can qualify for a small home improvement loan, you may be able to get one project done. If you can repay the loan on-time, you can improve your credit score. When the loan is paid off, you may be able to take another small loan or you may even qualify for a larger loan amount this time.

If you have bad credit, you should always try to improve your credit score. While this may take time and energy, it can benefit you and your life in many ways. When borrowing money with bad credit you always want to be extremely careful that you don’t commit to a loan that is more than you can afford.

Can I add home improvements to my mortgage with bad credit?

Home improvements can be added to your mortgage. Whether you can pull this off with bad credit or not, that’s another question. The answer heavily depends on just how bad your credit is. It can also depend on the lender and their requirements. To add home improvements to your mortgage, you will need to refinance your home or borrow against your home. Since you are using your most valuable asset as collateral, it may be easier to qualify for a loan. However, it may worsen your credit score for a short period of time. Eventually, your credit should start to improve. Keep in mind that if you fail to repay the loan, you risk losing your house.

You should also consider the cost of refinancing. If you had good credit when you originally bought your home, your interest rate may be low. However, if you refinance and now have bad credit, you may qualify for a higher interest rate. On top of tacking more money onto the balance you owe, you are also now paying more in interest. These two factors can be discouraging.

If you are purchasing a home that needs serious renovations, you may be able to add the renovation costs to the initial mortgage. However, bad credit can complicate this process. You may need to have a large down payment and you will probably not qualify for the lowest interest rates.

Can you use a mortgage to pay for renovations if your credit score is low?

Using a mortgage to pay for renovations might not be possible if your credit score is too low. You will find that lenders expect a certain credit score or they will not be willing to lend you money. Taking out even a small loan when you have bad credit can be very difficult and if your debt-to-income ratio is quite high, you will be denied nearly every time.
While this might seem like it is not fair, lenders are not interested in loaning money to people who do not make enough to cover the payments that they already have. They are not in the business of loaning money that will not be paid back. While lenders may be willing to take risks in some cases, they must be able to justify the risk. If you have recently defaulted on accounts, it will be nearly impossible to qualify for any type of financing. However if some time has passed since your last financial hiccup, you may have a better chance of qualifying for a loan.
Refinancing your mortgage to pay for home improvements is not always the best idea with a low credit score. While it is true that a secured loan may be easier to qualify for, if you refinance your home at a higher interest rate than you currently have, this can cost you more money in the long run.

Can you get a 203k loan with bad credit?

You may be able to qualify for an FHA 203k loan with bad credit. FHA 203k loans are similar to standard FHA loans in the sense that they are backed by the government. FHA loans have lower credit score requirements and down payment requirements. They are designed to help families purchase homes. Real estate is a way to create wealth and ensure you always have a place to stay. If the government can help more families purchase a home, we can help the economy.
With an FHA 203k loan you may be able to cover temporary living costs along with renovation costs. If you have a FICO score of 500 or higher, you may qualify for a FHA 203k loan. At the minimum borrower will need 3.5% down. If your FICO is below 580 you will likely need 10% down. The loan has other conditions that will have to be met as well. To learn more about FHA loans you will need to find a lender that offers them. You may want to start with your local bank and see if they offer FHA loans.
The FHA loan process can require a heavy load of paperwork and require patience. If you need to make home improvements right away this may not be the best option. In most cases, a personal loan will provide access to funds the fastest for home improvements. For borrowers with bad credit though, an FHA 203k loan may be one of the best options.

Will a bank finance home repair loans with bad credit?

Some banks may offer home improvement loans. If you have bad credit you might qualify, but it will depend on the bank’s requirements. If you have a preferred bank you should start by seeing if they offer personal loans or home improvement loans. Next, you should ask what their minimum credit score requirement is. You should be able to gather a good idea of whether or not you will qualify just by asking the right questions.

Can I get a home improvement loan with bad credit?

Home improvement loans are just personal loans in most cases. With that being said, it is possible to get a home improvement loan with bad credit. To find out if you qualify, you can check offers at Acorn Finance with no impact on your credit score. However, you may have to pay high interest rates and fees. If you have the opportunity to rebuild your credit score before taking out a loan, you should. There is no denying that lenders will be more willing to loan money with more favorable terms to borrowers with good credit.

Secure Low APR Home Repair Financing Today

Finding a home repair loan can be overwhelming, but thankfully the Internet makes it easy to explore your lending choices. Check out the options from Acorn Finance today!

Are You A Contractor?

Don’t let home repair financing slip through your fingers.

Offer customers low-rate loans to finance their home repair.