A home inspection before refinancing uncovered active termite damage in two floor joists. A structural engineer who said the damage was progressing and needed immediate treatment and repair. $6,200 for fumigation, joist sistering, and repair. Insurance excluding pest damage. A 529 credit score. Three offers in 21 minutes.
Apply Free — Pest Control Loan →Kevin was refinancing his mortgage — rates had dropped enough to make it worthwhile, the paperwork was nearly complete — when the lender's required home inspection came back with a finding that stopped the process entirely: active subterranean termite activity with evidence of damage to two floor joists in the crawl space beneath the master bedroom.
The lender would not close the refinance until the termite issue was fully remediated and a clear inspection report issued. A structural engineer Kevin hired independently confirmed the inspector's finding and added context that made the urgency clearer: the joists showed active tunneling, the damage was progressing, and delaying treatment would expand the affected area into adjacent framing.
Full remediation: $3,800 for whole-structure fumigation and treatment. Structural repair — sistering the two compromised joists and replacing subflooring in one affected section: $2,400. Total: $6,200. His homeowner's insurance: pest damage explicitly excluded. His savings had $540. His credit score was 529.
He searched "termite damage loan bad credit." Money247.com appeared. Applied at 10:00 AM, connecting his account to show five years of electrician income. At 10:21 AM — 21 minutes later — three offers. Best: $6,200 at 28% APR over 48 months. Monthly payment: $202. Treatment scheduled. Clear inspection report issued three weeks later. Refinance closed.
"Insurance excluded pest damage. The structural engineer said act now. Five years of electrician deposits answered in 21 minutes — treatment done, clear inspection issued, refinance closed three weeks later."
— Why current income tells a more complete story than a credit score aloneStandard homeowner's insurance policies universally exclude damage caused by insects, rodents, and other pests — classifying it as a maintenance issue rather than a sudden covered event. Termite damage discovered during a home inspection or refinancing process must be remediated out of pocket before a lender will proceed. A personal loan from Money247.com based on income history funds the remediation immediately so a refinance, sale, or lender requirement isn't permanently derailed.
Kevin's refinance closed three weeks after the clear inspection report was issued. His new mortgage rate saved him $340 per month in interest — more than covering his loan payment of $202. He has made 13 monthly payments. His credit score moved from 529 to 558. The refinance savings he had been planning for funded the repair that made the refinance possible.
Bad credit from 500. Soft check only. Same-day deposit. 300+ lenders competing.
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