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Need money to pay rent tomorrow?

You have options for quick funding — some more costly than others.

If you’re in a tight spot and need rent money quick, there are a few options: Payday advances, short-term loans, and even personal loans. But there are other non-lending options that could help you out as well.

5 non-lending options to help with rent in an emergency

Consider alternatives first, such as negotiating with your landlord or applying for housing assistance.

Here are five possible rent solutions:

  1. Short-term housing assistance. Many cities, counties and states offer voucher programs that can help with short-term housing emergencies. Visit your local housing authority to go over your options and apply for aid.
  2. Negotiate with your landlord. Your landlord may be willing to put you on an alternate payment plan or a modified lease during a financial crisis. If they agree to adjust your contract, get it in writing to avoid any issues later on down the road.
  3. Local charities. Charities and faith-based organizations in your area may offer housing assistance. This might include help with rent or temporary housing if you’re facing eviction.
  4. Family and friends. You might have someone in your corner willing to help cover rent. While not a long-term solution, it can help you make it through a financial rough patch without accruing late fees from multiple missed rent payments.
  5. Explore rent assistance programs. If you’re facing eviction and homelessness, you may qualify for a rent assistance program. For example, Texas has the Texas Rent Relief Program to assist tenants and landlords to help cover past due rent payments and ulilty bills, and there are also multiple Texas rent relief programs for specific cities, such as Arlington, Austin, Fort Worth and Dallas.

Where to find assistance programs near you

Searching online is a good place to start. You can search for rent relief programs by state, city or county. If you qualify, some programs may cover up to 18 months of rent. Consumer Finance also has a filtering system for rent relief programs, allowing you to sort rent assistance programs by state, city and tribal lands.

5 borrowing options for quick cash tomorrow (or today)

If non-borrowing methods aren’t in the cards, then getting a loan may be the next thing to consider. Here are five quick-money options to consider if you need cash tomorrow for rent. But tread carefully — some can be costly.

If non-borrowing methods aren’t in the cards, then getting a loan may be the next thing to consider. Here are five quick-money options to consider if you need cash tomorrow for rent. But tread carefully — some can be costly.

1. Online lenders

Some online lenders offers same-day or next-day funding, including SoFi and Upgrade, with SoFi advertising a turnaround time as soon as the same day. Other online lenders may offer short-term loans, such as OppLoans or ACE Cash Express.

Personal loans may be able to get you the most money compared to other options on this list, but you may need good to fair credit to qualify.

2. Cash advance apps

A solid option to avoid expensive payday loans, cash advance apps can be helpful in tight financial times. A few apps that offer quick funding include Brigit, Dave and B9. However, amounts may be only around $200, so it may not help if you need a full rent payment.

3. Payday lenders

These loans are often considered a last resort and suited for emergencies. Most payday loans are under $1,000, and typically repaid by your next payday or within 31 days. Watch out for high rates, additional fees, and regulations since payday loans vary by state.

4. Credit card cash advance

Although not ideal, a cash advance is typically less expensive than a payday loan. If you have a credit card with an open balance, you may be able to pay a portion of your rent with an advance. There are also some credit cards that offer 0% introductory rates, so if you pay off what you borrowed quickly enough, you may not owe any interest.

5. Pawn loans

If you have valuables like jewelry, electronics, musical instruments or other things with inherent value, you can put it up as collateral to a pawnshop and borrow around 30% to 40% of the item’s value. Often, these pawn shop loans are small, typically under $200, but it depends on the value of your item. There is also interest and fees to consider. And if you don’t repay the loan on time, the pawnshop could list your item for sale.

Can I use student loans to pay for rent?

Federal and private student loans can be used to pay for room and board, which includes rent payments for on- and off-campus housing.

What to look for in an emergency loan

Short-term loans can give you quick access to the money you need in an emergency situation, but it’s still sensible to compare your options before you apply.

Some features to keep an eye out for include:

  • Quick turnaround time. If you need money to deal with an emergency, the quicker you receive your approved funds the better. Some lenders can offer same-day funding, even on weekends, while others might require that you wait two to three business days.
  • Decent loan amounts. State regulations govern the maximum amount you can borrow through a payday loan, but this doesn’t mean that all payday lenders will offer you loans of that amount. Some payday lenders require that you work up a tiered system before you qualify for the maximum amount.
  • Low fees or no fees. State regulations also govern how much a lender can charge as an Annual Percentage Rate (APR), and this translates into how much you end up paying in fees. Interest rates vary between lenders operating in the same state, as can fees and charges.
  • Transparent lenders. A legitimate lender will be upfront on fees, costs and requirements. If it feels like you’re pulling teeth to get details, then consider it a red flag.

What do I need to apply for a quick loan?

While the information you need to provide will vary by lender, most will ask for the following:

  • Proof of income
  • Government-issued photo ID
  • Social Security number
  • Bank account information
  • Be old enough to borrow, 18 in most states

Some payday apps require you to link your bank account to the app, submit pay stubs for proof of income, and possibly require your paychecks to be direct deposit.

Can I use a loan to help if I’m evicted?

You can use a loan to help cover rent if you’re facing eviction — but you might want to contact a lawyer to discuss your options first. They can help you determine whether your landlord violated any of your tenant rights during the eviction process. And they might be able to help you find an alternative way to cover your rent so you don’t need to borrow.

A lawyer doesn’t always have to cost you anything either. Reach out to local legal aid organizations and ask if they have free representation services.

Compare short-term loans for rent

Explore your options by loan amount, turnaround time and requirements. Select the Learn more to go to a lender’s site, or select the More info button to read a review.

1 - 0 of 0
Name Product Filter Values Loan amount Turnaround time Requirements
Brigit
Up to $250
1 to 3 days or same-day in some circumstances
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $9.99 membership fee.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
OppLoans Installment Loans
$500 to $4,000
1 business day
+18 years old, Direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
CashNetUSA Loan
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
MoneyLion Instacash advances
$250, $300 with RoarMoney account
3 to 5 business days to external checking account, 12 to 48 hours to RoarMoney account
Bank account must have at least 60 days of activity, show recurring deposits and must have a positive balance
Fee-free, interest-free cash advances up to $250.
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Compare up to 4 providers

What to consider before applying for a fast loan

Make sure you won’t have problems repaying the loan before you apply, and if you think you may face trouble, seriously reconsider taking the loan in the first place. Making late repayments can mean additional fees and it can also adversely affect your credit rating.

Take some time to go through the loan’s terms and conditions carefully to get a clear indication of what you may have to pay in fees and charges.

How to avoid needing a short-term loan for rent in the future

Although emergencies can feel inevitable, here are a few measures you can take to avoid needing a short-term loan for rent in the future:

  • Enroll in government assistance programs. There are several state and federal assistance programs — including subsidized housing, housing vouchers and public housing — you can turn to if the cost of living is too high for your current financial situation.
  • Sign up for credit counseling. If you constantly need to borrow to make ends meet, a credit counselor can help you create a budget and debt repayment plan. To find a reputable service near you, check out the US Department of Justice’s list of approved credit counseling agencies.
  • Consider debt consolidation. Borrowing a loan for debt consolidation may help you combine some of your high-interest debts into one monthly payment. And for some people, it can reduce the amount you pay overall — easing the strain on your budget and making rent more affordable.
  • Download a savings app. Apps like Chime and Albert can help you automatically save by rounding up your purchases to the nearest dollar and putting the funds aside in a savings account.

Bottom line

If you’re facing an emergency and don’t have enough money for rent, you might want to first look into housing assistance offered by government agencies and local charities. Still short on funds? Look into these payday loan alternatives before turning to your short-term loan options.

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