Best Foundation Repair Financing For Good & Bad Credit

Can You Finance Foundation Repair?

Yes, absolutely you can finance a foundation repair. On average, homeowners can pay nearly $5,000 for a foundation repair, with major repairs requiring hydraulic piers costing $10,000 or more. If you need to simply fix some minor cracks in the foundation of your home, you may only pay between $500 and $1,000. 

If you need to finance a foundation repair, you have many options to consider. You could be looking at mortgage refinancing options, home equity loans, home equity lines of credit, home improvement loans, credit cards, or finding a foundation repair company that can offer payment plans. 

How To Finance Foundation Repair?

There are many ways you could finance a foundation repair on your home. Some options may be better than others, depending on how much you need and what your financial situation is like. If you are looking to spend somewhere between $500 to $1,000 repairing some cracks in the foundation, then you may be better off paying cash or using a credit card.

For repairs exceeding $1,000, a home improvement loan is likely your best option. Home improvement loans are essentially a personal loans designed for home improvements. You can secure a home improvement loan without a down payment or collateral, thus making it ideal for less expensive home repairs. Home repairs costing upward of $50,000 or $100,000 may call for a secured loan such as a home equity loan or home equity line of credit. 

There are 3 main sources for home improvement loans; banks, credit unions, and online lenders. We encourage homeowners to shop online for a loan as it will provide them with more opportunities to find the best deals. Most lenders will require an application to deliver a loan decision. Once prequalified, they may require additional documentation before issuing an approval. To find the best loan offer without impacting your credit score, check offers online at TGUC Financial. 

Can You Get A Loan To Fix Your Foundation?

Yes, there are plenty of unsecured and secured loan options available to fix your foundation. Depending on the size of the repair project and the amount that needs to be financed, you could also look into credit cards, a line of credit, or see if any foundation repair companies offer payment plans. 

What Is The Most a Foundation Repair Can Cost?

There are several factors that go into calculating how much a foundation repair could cost. The size of the home and accessibility to the foundation, the severity of the issue, soil stability, and the cost of labor, permits, and materials all can add up to thousands of dollars. 

Typically, the most severe foundation repair can cost $25,000. This amount could cover costs associated with repairing a bowing wall, fixing leaks, and stabilizing a sinking foundation. Additionally, repair services that require foundation jacking, basement hydraulic piering, wall stabilization, and sealing can quickly increase the overall cost of the foundation repair project.

Can Foundation Problems Be Fixed Permanently?

Although many methods of fixing a home’s foundation may be considered or called permanent fixes, there is no guarantee that you will not have foundation problems again sometime in the future. 

How Long Does It Take To Fix The Foundation Of A House?

Depending on how severe the problem is with the foundation of your house, the average foundation repair can take anywhere from one to three days. More serious problems and larger homes may take up to five or seven days to repair a foundation. 

How Much Does It Cost To Stabilize A Foundation?

Stabilizing a home’s foundation typically requires a house to be raised off of its footers and concrete to be poured to level out the home. A house can be raised using steel or concrete pressed piers and mudjacking. If your home and foundation need to be stabilized using one of these methods, you could be looking at a total project cost of somewhere between $10,000 and $15,000.  

When Should You Walk Away From Foundation Issues?

If you’re looking at purchasing a home that has foundation issues, you may want to consider that if you need to have someone come in and lay down a brand new foundation, it can cost $40,000 or more, depending on the size of the home. Also, a foundation that is in serious disrepair can actually cause the house to collapse, which is a major safety concern. 

Make sure you always have a home inspected before you sign any final purchasing agreements, and be prepared to walk away if you encounter any serious issues. Some signs of major foundation distress include mold infestation, water seepage, water damage, jammed windows and door frames, cracked walls, and uneven floors. 

What Happens If You Don’t Fix Foundation Problems?

If you do not fix your foundation problems immediately, they can become worse the longer you wait to address them. Some issues you may encounter include a sinking or settling foundation, insect and rodent infestations, plumbing issues, and problems with mold and mildew.

• Sinking/settling foundation: Foundations can sink into the ground and become uneven over time. The longer you put off foundation repairs, the more you may notice your floors becoming uneven and your window and door frames crooked. 
• Insect/rodent infestations: Exposed foundations can let in insects and rodents that can bring disease and further damage the home. 
• Plumbing issues: Plumbing can become intertwined, and pipes can develop leaks or even burst when a home is experiencing foundation issues. 
• Mold and mildew problems: Cracks in a foundation can let water seep into the home. Excess water in the home can provide the perfect environment for mold and mildew to thrive.

For access to home improvement loan offers up to $100,000 with competitive APRs, visit TGUC Financial. With a network of vetted and trusted lending partners, you can get the financing you need in a matter of minutes. The benefits don’t stop there, though. TGUC Financial can also connect you to a number of local contractors that can complete your foundation repair. Our lenders can even pay the contractor directly to make life even easier. 

Seal the deal. . . get prequalified for foundation financing online today!