As a homeowner you know that sometimes repairs can’t wait for that grant money to come in and you just don’t have the extra savings to pay for it either. The government often works at a slower pace than what you want them to and that in turn leads to waiting for your grant to arrive if you have been approved for one which can take months to arrive.
Luckily there is a better solution where you have the opportunity to take out up to $50,000 in a loan which can be funded to your account as soon as the next business day. Usually anyone that is a homeowner can get approved for the loan if it’s for home improvement even with bad credit because you are typically increasing the value of your home and they would use that as collateral for your loan payoff.
There are both pros and cons to loans just like there are with government grants. The benefits of a loan is that you are funded as early as the next business day and can get up to $50,000 towards repairs or upgrades to your home. The downside is that the money obviously has to be paid back over time or can usually be paid in one lump sum without any extra penalties if you sold your home for whatever reason.
The pros of a government grant is this money is free from the government and it does not have to be paid back. The downside to grants are that not everyone qualifies, there are usually limits of up to $7,500 per grant, and typically you have to wait months to receive the funds.