🧱 1. Home Equity Loan
What It Is
A fixed-rate loan based on the equity you’ve built in your home.
Best For
✔ Larger erosion control projects
✔ Predictable monthly payments
Why It Works
- Lower interest than credit cards
- Fixed payment schedule
- Funds delivered as a lump sum
Things to Know
- Your home is collateral
- Requires decent credit and equity
Good Fit When
You want consistent budgeting and a long repayment term.
🔁 2. Home Equity Line of Credit (HELOC)
What It Is
A revolving credit line secured by home equity.
Best For
✔ Projects with changing scope
✔ Multi-phase erosion control work
Why It Works
- Borrow what you need, when you need it
- Interest only on what you use
- Reusable during the draw period
Things to Know
- Variable interest rates
- Your home is collateral
Good Fit When
You aren’t sure of exact costs upfront or you’re planning future phases.
💳 3. Personal Loan
What It Is
An unsecured loan with fixed repayment (no home equity needed).
Best For
✔ Smaller erosion control jobs
✔ Homeowners without sufficient equity
Why It Works
- Quick approval
- No collateral risk
- Some lenders offer online application
Things to Know
- Higher interest than home-secured loans
- Lower borrowing limits (typically $5k–$50k)
Good Fit When
You need moderate funding fast without using your home as security.
📋 4. Construction Loan (or Improvement Loan)
What It Is
Short-term financing for home improvement projects.
Best For
✔ Major shoreline work
✔ Projects requiring staged payments
Why It Works
- Lender disburses funds in draws as work progresses
- Limits risk of upfront spending
Things to Know
- Typically converts to a mortgage or requires payoff at completion
- More documentation required than personal loans
Good Fit When
You need structured funding for a larger scope job.
🏡 5. FHA Title I Home Improvement Loan
What It Is
A government-backed loan for home improvements.
Best For
✔ Homeowners with lower credit scores
✔ Projects that may not qualify for traditional financing
Why It Works
- Smaller down payment requirements
- Flexible use
Things to Know
- Loan amounts and terms vary by lender
- Not all lenders offer this
Good Fit When
Your credit isn’t perfect, but you still need reliable financing.
🆓 6. Grants & Government Assistance Programs
What It Is
Free or subsidized funds for specific types of work.
Potential Sources
✔ FEMA mitigation grants
✔ State erosion control programs
✔ Local watershed or conservation grants
✔ USDA Rural Development programs
Why It Works
- No repayment
- Supports environmental protection
Things to Know
- Highly competitive
- May require environmental assessments or matching funds
Good Fit When
Your property qualifies for flood, erosion, or environmental risk reduction programs.
💼 7. Contractor Financing Plans
What It Is
Your erosion control contractor partners with a lender.
Best For
✔ On-the-spot financing
✔ Fast approvals
Why It Works
- Designed for home improvement projects
- Sometimes promotional 0% APR offers
Things to Know
- Terms vary widely
- Make sure you understand fees after promotions end
Good Fit When
You want one-stop financing with your contractor.
🪙 8. Credit Cards with Promotional Rates
What It Is
Using a credit card with:
- 0% APR introductory offers
- Rewards / cashback
Best For
✔ Smaller jobs or deposits
✔ Managing cash flow
Things to Know
- After promo, rates can be high
- Avoid carrying large balances long-term
Good Fit When
You can pay down quickly or need short-term flexibility.