Emergency home repairs sometimes become necessary even when there is no cash to cover them. Many people solve this problem by using a short-term loan.

You may have heard short-term loans referred to as “payday” loans. With these, you borrow a certain amount of money and pay it back when you receive your next paycheck. Some loans may not have a due date on your payday, but they will be due within weeks.

When you have true home-repair emergencies, it can help to have some financial tips. Here are a few things to keep in mind:

• Only borrow the amount you need for the repair, but add a financial cushion. The materials to fix the problem may cost more than you originally expected. If you don’t have a cushion, you may not be able to cover the repair costs.
• Work with a reputable lender, like Plain Green Loans. Short-term loans may be your best option for taking care of an emergency, but you will have to pay for the loan. If you don’t work with a reputable company, you may find yourself paying hidden fees or higher interest than you expected.
• Don’t cut corners, even if you are financing home repairs. When money is tight, you may be tempted to buy cheaper products or to skip professional advice. In reality, cutting corners like this may not fix the problem correctly and you’ll have to pay additional money to fix something you’ve partially corrected.

Your home is a valuable asset, and it’s worth using a short-term loan to make repairs in a timely fashion.