Rent Financing made simple.
Ordinarily, it's not a good idea to borrow money to pay rent on your living space. However, sometimes emergencies arise. You may be short of money because of unexpected medical bills, legal fees, or car repair costs, or you may have just lost a job or had your hours at work cut back.
In these situations, it's important to find a way to pay your rent on time so you don't risk being evicted. A rent loan may help you keep your rent payments current until the crisis is over.
how it works
Reasons for Rent Loans
Rent Payment Loan
If you don't pay your rent, your landlord may evict you, making a bad situation worse. An eviction on your record may also make it harder for you to find housing in the future. A rent loan may help you keep your home when you are dealing with a financial emergency.
Below619fico scoreSecurity Deposit Loan
Security deposits may be as high as one month's rent or more. You may be short of cash after paying for all the expenses of moving. If so, a rent loan may help you get the funds to pay your security deposit on your new place until you get your old security deposit back from your previous landlord.
Above660fico scoreBad Credit Rent Loans
Even if your credit rating is not good, you may still be able to find a lender who will give you a personal rent loan. If you keep an open mind and shop for a loan, you may be pleasantly surprised.
Good Credit Rent Loans
If you have a good credit rating, you may be able to get a rent loan with very favorable terms. Shop around and see what is out there.
Association Fees Loans
Just as it's important for renters to stay current on their rent payments, it's also important for condo owners to stay current on their homeowners' association fees. If a short-term crisis has left you short of cash, a personal loan may help you pay your fees on time.
Furniture Rental Loans
When you need to furnish your living space or office fast, renting furniture may be a good option. A personal rent loan can help you afford the rental fees if you find yourself in a bind.
Rent to Own Payment Loans
Rent-to-own arrangements offer a way for people to buy a home when they don't have enough money for a down payment or if they have bad credit. Even a rent-to-own plan, however, requires a fee upfront, and rent payments will be higher than usual. If you need some financial help, consider a personal rent loan.
When you are subleasing an apartment or house, it is just as important to make your payments on time as it is when you are renting directly from the landlord. If a temporary situation has left you short of cash, a personal rent loan may help.
Electronics Rental Loans
When you need expensive electronic equipment, sometimes it's more convenient to rent or rent-to-own rather than buy outright. If you miss a payment, though, you may lose any amount that was being applied towards purchase. A personal rent loan may help you keep your payments current.
When Should You Get a Rent Loan?
Sometimes emergencies happen, and you have to spend money that you weren't expecting to spend. If that leaves you short of money to pay your rent, a rent loan may help you avoid falling behind on your payments. By keeping up with your rent, you may avoid the stress of dealing with an eviction and all the additional problems that will cause.
What Kind of Loan is a Rent Loan?
A rent loan is a personal loan. You don't need to put any property at risk to get a personal loan. Interest rates will be based on your credit score, and a repayment plan may help make it easier to budget while you're getting back on your feet.
How Can I Find a Lender for a Rent Loan?
At Loanry.com, we match up lenders with people shopping for loans. The process is easy, and it's surprisingly quick. You could have your money as early as the very next day.