For most people their home is their biggest investment. And when that investment is in need of repair, sometimes only a home repair loan can provide the money you need to maintain the upkeep of your home. Fortunately, there are a number of options available to finance the home repairs that your house needs.Private Lending InstitutionsIf your roof leaks or shingles have to be replaced, you can’t put off doing emergency repairs just because you think you can’t afford it. You need money to fix your roof, and you need it right now. But if you’re living from paycheck to paycheck, this may not be as simple as it seems.Banks and private lending institutions offer home equity lines of credit. This type of repair loan is based on the equity you own on your home. Banks as well as credit unions offer this type of loan at very reasonable interest rates. The amount you can borrow will depend on the lending institution. Some private lenders allow up to 70% of your home equity for the loan amount.Requirements for the home repair loan will vary from one lending institution to another. The interest rate will depend on your credit score. Some lenders even approve loans for borrowers with less than stellar credit scores. However, you should expect higher interest rates if your credit is not good.Government Home Repair LoansThe federal government also offers home repair loans for qualified borrowers. These low-interest loans are available to people with low income whose homes need repair and maintenance. Repair financing offered by the government has strict guidelines specifying the types of repairs that the loan can be used for.The Department of Housing and Urban Development or HUD along with the US Department of Agriculture offers loans administered by local housing authorities. These loans come with a low interest rate. Prospective homebuyers can even apply for the HUD Rehabilitation and Repair Home Loan that will allow them to combine the purchase and repair or renovation cost into a single mortgage.203(k) Rehabilitation Loan – To be eligible for this loan, the house must be at least one year old. Home repairs must amount to at least $5,000. Repairs under this type of loan include flooring and roof repairs, weatherization, minor renovations, repainting, and making your home more energy efficient.Home Repair Loan and Grant – The Rural Housing Repair and Rehabilitation Loans and Grants Program provides low-interest loans for rural residents with very low income. The loan can be used to upgrade or repair their homes to meet safety standards. The Home Repair and Loan Grant program also provides grants for senior citizens 62 years and over for home repairs and renovations.