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Common questions and answers
Contractor financing allows home improvement businesses to offer customers monthly payment options instead of requiring the full project cost upfront. Contractors partner with financing providers that connect homeowners with third-party lenders. Once a customer accepts a loan and funding requirements are met, the contractor receives payment while the homeowner repays the lender over time.
Contractors can offer customer financing by partnering with Contractor Financing Solutions. Contractors receive a personalized portal and financing link to share with homeowners. Customers complete one simple application to explore offers from participating lenders, without the contractor managing credit decisions or loan repayments.
Home improvement financing may be available for roofing, HVAC replacement, kitchen and bathroom remodeling, windows, doors, plumbing, swimming pools, electrical upgrades, and other residential improvements. Eligible project types and loan amounts depend on the participating lender, homeowner qualifications, and financing program requirements.
Homeowners may qualify for financing up to $100,000 through participating lenders in the Contractor Financing Solutions network. The amount offered depends on factors such as credit history, income, existing debt, and lender underwriting criteria. Not every applicant will qualify for the maximum amount, and available loan terms vary.
Some participating lenders may consider homeowners with FICO credit scores starting around 570, although minimum requirements vary by lender. Approval is not based on credit score alone. Lenders may also evaluate income, employment, existing debt, and overall creditworthiness when determining eligibility, loan amounts, and repayment terms.
No, homeowners can begin exploring financing options through a soft credit inquiry, which does not affect their credit score. However, some lenders may perform a hard credit inquiry later in the application or loan acceptance process.
Contractors receive payment after the homeowner’s loan is approved, accepted, and funded according to the lender’s requirements. Payment timing depends on the lender, verification process, and project structure. Some larger home improvement projects may qualify for staged disbursements rather than a single upfront payment.
Contractor Financing Solutions offers access to non-recourse financing arrangements in which the lender, rather than the contractor, assumes the homeowner’s repayment risk. The lender services the loan and collects monthly payments. Contractors remain responsible for their contractual obligations, and specific recourse exceptions or funding conditions depend on the lender agreement.
