How Your Home Can Pay For Emergency Repairs

Steve Cicero/ Getty Images; Illustration by Austin Courregé/Bankrate

Key takeaways

  • Home equity loans and home equity lines of credit can be an option to help cover emergency home repair costs.
  • Benefits of using HE loans and HELOCs include lower interest

How To Pay For Emergency Home Repairs

Key takeaways

  • Financial experts suggest setting aside 1% to 4% of your home’s value annually for repairs and maintenance.
  • Even with homeowners insurance and an emergency fund, taking out a loan might be a feasible way to cover emergency home

MOST INDIANA HOMEOWNERS DO NOT INVEST IN HOME MAINTENANCE AND ARE NOT PREPARED FOR EMERGENCY REPAIR COSTS IN 2023

INDIANAPOLIS, July 11, 2023 /PRNewswire/ — Williams Comfort Air, a leading Indianapolis heating and cooling company, and Mr. Plumber, a leading Indianapolis plumbing company, today released survey results which found most Hoosier homeowners are not properly maintaining

Should you use home equity to finance emergency repairs?

In certain circumstances, it may make sense to use your home equity to pay for emergency repairs.

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When you own a home, unexpected repairs are likely to happen. Whether it’s a failed water heater, broken pipes or something

Emergency home repair funds available

Financial assistance is available to eligible families in Mecosta and Osceola counties for emergency home repairs through the Mecosta/Osceola County Housing Commission.

Big Rapids Housing Commission assistant director Linda Miller said the funding comes from previous loans to homeowners through …