Spring is coming, and with it comes spring storms. Wind and Rain our coming our way and it's best to be prepared in the case that any damage are done to your home this season. If a tree were to fall on your house you would be in panic. Although your insurance would cover most of the cost, you have to figure out how to pay the deductible and other related expenses until everything is sorted out. If you happen to be one of the almost 50% of Americans that couldn’t cover a $400 emergency payment without borrowing it elsewhere, don’t panic. Even if you have exhausted all of your hidden money places you can always get money from people. There are loans and grants that are given to people like you to help you rebuild and find shelter. Here are some of the best options you have to help fund with problems like home repairs,

Most Common Source of Funding: Loans

Home Equity Loans  The two types of home equity loans are the original home equity loan and a loan known as the HELOC. The one caveat is that you generally can’t tap more than 80 percent of your home’s total equity, so if your mortgage is already taking up 75 percent of that, you may not have enough equity left to fix the weatherhead. These loan types have the longest terms so therefore have the smallest payments.

Personal loans  Out of the loans a personal loan can be more difficult to qualify for because there isnt any general security involved. With these loans there is no collateral so they will process much faster and help get that power turned on much quicker. With a personal loan there is the downfall of having to pay a much higher rate than you would if you were to have a secured form of credit.

401(k) loan  This is an account that is mainly set up for retirement. Most people believe that a 401(k) would never do anything for them. This idea can be very untrue though depending on the amount of funds you have vested and how specific your 401(k) is set up.

Borrowing from family  Although many people avoid taking money from family members. But as things get more rough you may have to go back to your people and grovel. People always imagine a long list of cons for this but borrowing the money can say Hey, don’t skip this one. It’s no fun to ask family for money, but sometimes, you’re caught between a rock and hard spot.

Free Grant Money  There are some grant programs out there, but they are very few and far between. Primarily, they go to people who are elderly, very impoverished and live in rural areas, but if there’s a grant program in your area, apply. It can’t hurt anything. The biggest downside to grant money for a repair like yours is that they’re rarely in any hurry to get things done. Grants can be achingly slow, even if you’re approved right away. You probably can’t afford that kind of time investment. Just because it’s free doesn’t mean it’s not going to cost you a fortune.

We hope that showing you a few of your options will help you this spring in deciding how to handle a situation like this if you were to come across a problem.