hvac · water heater · roof · storm damage

Home Repair Loans for HVAC, Roofing and Storm Damage

A failed AC, a dead water heater or storm damage to a roof usually needs fixing fast.

Before you finance, check what insurance or disaster aid covers, then compare loans for the rest.

Separate option – personal loan rates

Check personal loan rates for a home repair without affecting your credit score¹.

On the Upstart platform, you could receive offers from lenders.

Affiliate link. LendMail may earn a commission if you apply and are approved. Not all applicants approved. Upstart Network, Inc. (NMLS #936133) is not a lender. All loans on its marketplace are made by regulated financial institutions.

¹ When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.

Common ways to finance a home repair

Unsecured personal loan: usually doesn’t require home equity, and funds can be paid to you to use with any contractor.
Contractor financing: convenient, but ask who the lender is and compare its APR and promo terms.
Home equity loan or HELOC: may cost less but uses your home as collateral and usually takes longer.

Storm damage: check insurance and aid first

File a homeowners insurance claim before borrowing so you know your deductible and what’s covered.

After a federally declared disaster, you can check eligibility for FEMA and other federal help at DisasterAssistance.gov.

Hiring the contractor

Get several written estimates. The lowest bid isn’t always the best.
Check your state or local licensing rules and ask for proof of insurance.
Be wary of door-to-door crews after storms who want large payments up front.

Know the cost before you accept

APR: the yearly cost of borrowing, including interest and some fees.
Fees: origination, late and other fees.
Repayment: monthly payment, number of payments and total repaid.
Pre-approval or prequalification is not a guarantee of final approval or of the rate shown.

FAQ

Can I use a personal loan to replace an AC or water heater?

Many personal loans can be used for home repairs. The lender sets allowed uses and approval isn’t guaranteed.

Is a personal loan or a HELOC better for a home repair?

A HELOC may cost less but uses your home as collateral and can take longer. An unsecured personal loan is often faster but may cost more. Compare APR, fees and timing.

Is LendMail the lender?

No. LendMail is an independent guide and does not make loans or approval decisions.

Related loan guides

Sources

LendMail is an independent guide, not a lender. We don't make loans or approval decisions.