For most people, the cost of plumbing repairs is simply not something that can be put off. Even if your landlord is willing to make an exception and let you postpone the repairs until after the rent is due, you still have other expenses like utility bills, groceries and other living expenses to consider. That’s why so many people choose financing when they need plumbing repair financing. Financing your plumbing repair can help you avoid taking out a loan or paying cash for what can be a costly repair. There are many different types of financing available for plumbing repairs. Depending on your situation and needs, you may be able to find an option that works best for you.

Financing a New Installation

If you are having a new plumbing system installed, you may be able to finance the entire project. This could be a new kitchen or bathroom addition, a new sewer line or water main installation, or a new plumbing system in a new home or commercial property. The lending institution will require you to purchase a bond or special assessment that will be repaid over a period of time, usually between 5 and 30 years. You will also have to pay for the financing in the form of a higher interest rate.

Financing a Repair

If you need financing for a plumbing repair, it is important to find out what your lender will require. Some lending institutions will require you to put up a certain amount of collateral in the form of the repair itself. If the repair doesn’t get done, the lender will then have the right to repossess the repair and sell it in order to recoup some of their money. If you are financing a repair, you are responsible for making sure that the repair gets done. The lender will be counting on you to finish the repair and make sure that the problem is resolved.

Financing a Service Contract

If you need to have a service contract financed, you will likely be required to put up some collateral. The lending institution will require you to purchase a bond or special assessment that will be repaid over a period of time, usually between 5 and 30 years. You will also have to pay for the financing in the form of a higher interest rate.

Financing a Loan for Repairs

If you need to finance a loan for repairs, the lending institution will require you to put up a certain amount of collateral in the form of the repairs themselves. If the repairs don’t get done, the lender will then have the right to repossess the repairs and sell them in order to recoup some of their money. If you are financing a loan for repairs, you are responsible for making sure that the repairs get done. The lender will be counting on you to finish the repairs and make sure that the problem is resolved.

Financing a Loan to Build a New System

If you need to finance a loan to build a new system, the lending institution will require you to put up a certain amount of collateral in the form of the building or property itself. If the repairs don’t get done, the lender will then have the right to repossess the building or property and sell it in order to recoup some of their money. If you are financing a loan to build a new system, you are responsible for making sure that the repairs get done. The lender will be counting on you to finish the repairs and make sure that the problem is resolved.

Bottom line

Financing a plumbing repair or new system installation can help you avoid taking out a loan or paying cash for what can be a costly repair. There are many different types of financing available for plumbing repairs. Depending on your situation and needs, you may be able to find an option that works best for you.

Frequently Asked Question

When researching plumbing companies, use the word reviews or customer comments to find their review profile. Google reviews are found in the maps profile of each company. In there you can easily see what customers think of the service they got from each contractor.

Typical hourly rates for plumbers cost between $45 and $200. A journeyperson charges about $70 to $120 per hour, but they are only licensed to handle the most common household repairs. Complex problems or installations will require the help of a master plumber.
Most plumbers charge an average of $70 to $120 per hour before trip fees and materials. Rates can range as high as $200 or as low as $45.
Open ALL hot water sink fixtures, hot water bathtub or shower fixtures. Next, open all other hot water fixtures, such as in the kitchens, wet bars, etc. Run all of these hot water fixtures for 15 minutes, then shut the water off. This is also a good time to flush the hot water tank to remove sediment.
If your drain is clogged with ice cubes — then yes, boiling water can unclog a drain. But if your drain is clogged with the things that normally clog drains — grease, oil, dirt, hair, etc. — then no, boiling water isn't likely to help.
A smelly sink is usually caused by bacteria build up from grease, fat and food which have been flushed down the drain. These will then get stuck in the pipes causing the familiar rotten egg smell.
Cross-linked polyethylene, or PEX, is the new standard when it comes to repiping your house. Since it is made of plastic it is a more cost-effective alternative to copper. Pex is easier to install and lighter in weight, reducing shipping costs too.
A complete repipe can take anywhere from a few days up to a week. Smaller homes can be repiped in as little as two days, while large homes with multiple bathrooms can take much longer. However, it's important to note that you won't necessarily be unable to use your plumbing during that entire time.
If just a pipe or a section of your copper plumbing is leaking, you could just replace it with PEX piping. But if you have an old copper plumbing system that leaks frequently in different areas of your home, you may want to consider a whole-house repipe
Turn off the water supply to the leaking pipes and clean the area around the hole to be patched. Use a metal file to smooth any sharp edges that might cut through the patch. Apply the patch and repair clamp so it evenly overlaps the damaged section of pipe. Tighten the clamps to seal the leak.