FAQ

You can offer financing alongside your other payment options, giving homeowners the opportunity to apply through your personalized financing link. Participating lenders review the application and determine whether any offers are available. If the homeowner accepts an offer and completes the lender’s requirements, funding can proceed. Your business receives payment according to the applicable lender program, while the lender handles the homeowner’s loan repayment. Unlike an in-house payment plan, you generally aren’t responsible for collecting monthly payments yourself.

Many participating lenders use a soft credit inquiry during initial prequalification, which does not affect the homeowner’s credit score. Depending on the lender and financing product, moving forward with an offer may involve a hard credit inquiry. Homeowners can review available options without being obligated to accept an offer. If their credit reports are frozen, they may need to temporarily lift the freeze so lenders can review their information.

Financing through participating lenders is generally structured as non-recourse to the contractor. This means your business typically isn’t responsible for collecting monthly payments or covering a homeowner’s missed payments after funding. However, specific obligations and exceptions depend on your lender agreement, including provisions related to refunds, cancellations, fraud, or disputes over the work.

Potentially. Participating lenders consider a range of credit profiles, and qualification requirements vary by lender. In addition to credit history, lenders may consider income, existing debt, and other financial information. Having access to multiple lenders gives homeowners the opportunity to explore different financing programs, but approval is never guaranteed. Contractors don’t make lending decisions, and homeowners receive any applicable decline notices directly from the lender.

Your business receives payment after the applicable lender’s funding requirements are satisfied. Depending on the financing program, funds may be released before work begins, after project completion, or according to an agreed funding schedule. We’ll explain the applicable funding process so you understand when to expect payment. Be sure to confirm funding before treating a job as paid.

Contractor fees and any program charges are explained during your demo and spelled out in your agreement before you start offering financing. When comparing providers, look at the total cost per financed job, not just one advertised fee. It’s also worth asking how refunds, cancellations, and other adjustments are handled, since these terms can vary between financing programs.

You don’t necessarily need to replace your existing financing provider. Contractor Financing Solutions can serve as an additional option, connecting homeowners with participating lenders through a streamlined application process. Because lenders have different qualification requirements and financing terms, a multi-lender network may provide alternatives when your primary lender isn’t a good fit. Available offers and approvals depend on each homeowner’s qualifications.

Being able to pay and wanting to pay all at once are different things. Some homeowners prefer to keep savings available for emergencies, retirement, or other expenses rather than use a large amount of cash on one project. Financing gives qualified homeowners the option to spread the cost over time through monthly payments, although interest and fees may increase the total cost. That’s why it makes sense to present financing alongside other payment methods rather than reserving it for customers who raise concerns about price.

Mention in your marketing that financing is available for qualified homeowners, then introduce it during the estimate alongside the full project price and other payment options. This gives customers time to consider how they want to pay without feeling pressured to make a financing decision. Your team should avoid promising approval, quoting rates before a lender provides them, or focusing only on monthly payments without explaining the total cost. Presenting financing consistently also helps avoid making assumptions about a homeowner’s financial situation.

Yes, provided your advertising follows applicable lending and consumer protection requirements. General language such as “financing available for qualified homeowners” is a straightforward way to introduce the option. Advertising specific payment amounts or financing terms may trigger additional disclosures under federal Truth in Lending rules (Regulation Z) and applicable state laws. Avoid claims such as “guaranteed approval” or “no credit check” unless they are accurate and permitted. Use advertising language approved by your financing provider.