Home Improvement Financing For Dealers – New homeowners have a lot of numbers to consider — the down payment, the inspection, the interest rate on their mortgage loan. But there’s one personality that’s a little more difficult to eliminate: Repair.
Once these contracts are signed, it can be difficult to find necessary improvements hidden behind the structure or waiting down the road. But by helping homeowners prepare for these often-forgotten (but common) repairs, you can save them the headache and struggle to keep up with unexpected expenses.
Home Improvement Financing For Dealers
When buying a new home, some plumbing issues are immediately apparent. Poor water pressure or visible leaks can be easily spotted, and potential buyers can plan for repairs. But the plumbing problems that wreak the most havoc are those hidden behind walls and underground, such as leaky pipes, sump pump failures, and significant water losses. Not only can they cause the biggest problems (mould, water damage), but they are also some of the most expensive repairs homeowners face if left unchecked. While a routine plumbing fix can cost as little as $75 for a leaky faucet, more involved plumbing fixes (such as water main repair or replacement) can cost thousands of dollars.
Unsecured Home Improvement Loan
You can help homeowners prepare for these “unexpected” expenses by making sure they understand the scope of plumbing maintenance and how it can help avoid potential problems. Regular maintenance and inspections of pipes and key plumbing fixtures (including water mains, water heaters and filtration systems) can keep projects smaller and more manageable — both in size and budget.
There is nothing more surprising to new homeowners than the surprise of unexpected electrical work. This is also unfortunately very common. Whether it’s a busted switch or dated wiring that needs a complete update, homeowners need to be prepared for the possibility of electrical repairs in their new home (especially an older home).
Most importantly, they need to know the potential costs. Smaller projects such as lighting fixture installations can cost as little as $100 to $400. But when you’re talking about rewiring, those numbers start to creep into the $2,000 to $6,000 range (and more). And keep in mind, this isn’t just a budget consideration for homeowners, it’s a serious safety issue if left unchecked.
Most homeowners know that their AC filters need to be replaced periodically, but outside of this routine process, HVAC systems are often neglected until something goes wrong. (Like no air conditioning during a record-setting heat wave). Unfortunately, these types of emergencies often mean higher price tags for both labor time and necessary parts (with some expedited delivery). Home improvement financing.
How Do Home Improvement Loans Work?
And while quick fixes like replacing fuses, breakers, or thermostats are fairly inexpensive (under $300 on average), a complete system replacement ranges from $3,000 to nearly $6,000. That’s why routine HVAC inspections are so important and should be recommended. Through marketing communications to your customers and potential customers. And if worst comes to worst, you can help homeowners manage these unexpected expenses with flexible options, such as those offered with Lending’s home improvement financing.
Many homeowners understand the curb appeal aspect of landscaping. But when it comes to how it might affect potential repair work, there can be a bit of an uphill climb. Many homeowners (and hobbyist landscapers) have subverted the function by planting beautiful plants that grow into the foundation of the house or trees whose roots are too close for comfort. These seemingly small mistakes can lead to major problems for homes over time. This is also common but may not be apparent during an initial home inspection.
Foundation work can be very expensive. A small crack can be repaired for about $600, but major foundation problems can reach $10,000 or more, with an average cost of around $4,600. Keeping homeowners up to speed on the importance and signs of home-friendly landscaping. Potential foundation problems down the road can ensure they won’t be immune to surprise damage and associated costs.
Whether it’s a post-purchase repair period or ongoing maintenance, many new homeowners forget to include these costs when creating their budget. By helping them better plan for these common expenses, you can not only prevent extra costs, but also help clients budget for those dream renovation projects.
Home Improvement & Renovation Loans
As the saying goes, home is where the heart is. But after a year (and then some) of spending a lot of time there, home is also where the new gardening hobby is. Now, many homeowners are looking to take those green thumb projects to the next level and are looking for home improvement providers to help them.
Metal wood. Plaster. As a home improvement contractor, you definitely know your way around these hands-on materials. But in today’s world, acquiring new customers is essentially a virtual process.
As the saying goes, it’s a good idea to expect the unexpected (or something of the sort). This couldn’t be more true in the world of home improvement projects. Your customers complete a short online financing form to quickly see their estimated monthly payment options, without affecting their credit score.
For homeowners who qualify, 0% introductory APR credit card options are available. Terms range from 6 to 18 months.
How To Finance A Mobile Or Manufactured Home
Customers apply for their preferred payment option and receive funds in less than 24 hours if approved.
“Hearth has been a game changer for me and the company. We send our customers a financing link. We follow up, and they get funded in 24 to 48 hours. You can’t ask for more than that.”
“Horth was really a no-brainer for us, and we feel like it’s a no-brainer for everyone else in the industry.”
Using Hearth to offer financing to your customers can help you win more jobs and avoid sticker shock. With Hearth, you can offer your customers affordable monthly payment options for their home improvement projects. Instead of paying a large sum for their project, they can break up their costs into smaller payments. And, with Hearth’s lending partners, there are no prepayment penalties.
Home Improvement Financing For Contractors And Consumers
With Hearth, you can also give your customers a clear view of their purchasing power. If your customer pre-qualifies, they can see their options for the amount they’re requesting, but they’re also shown the highest amount they’re eligible for. This opens the door to project upgrades so you can get the most out of everything you do
While traditional financing companies have dealer fees of 3-20% per financed project, contractors are never charged dealer fees by Hearth. Hearth’s annual fee gives you access to unlimited use of our financing tools for an entire year.
Through your co-branded Hearth pre-qualification form, your customers can view their pre-qualified monthly payment options for their projects without straining their credit.
Access a network of 18 lenders with a pre-qualification form for FICO scores as low as 550 and loan amounts up to $250,000.
Home Improvement Financing For Contractors
Eliminate wasted time tracking overdue payments with Hearth’s easy-to-use digital payment system. Add a financing link to your invoice to show your customers their monthly payment options.
Negotiating money with a customer during a sale can be difficult. That’s why Hearth makes it easy to embed financing options into every quote, contract and invoice you send so your customers always know they have payment options.
Customer financing is a method of financing where a contractor is able to offer monthly payments to their customers to avoid paying large sums of money at one time for their projects. Hearth members can offer personal loans and 0% introductory APR credit cards to their customers.†
† 0% introductory APR credit cards are an addition to Hearth membership. For more information, speak with a Hearth account executive at 512-686-4141.
Ways To Finance Your Home Office
Have you ever been in a situation where you offered a price for your services and your potential customer was not happy with the price? By offering monthly payment options to your customers, you are able to combat sticker shock and win more jobs.
Interest rates for personal loans can start as low as 4.99%, but the annual percentage rate (APR) of the loan depends on credit score, debt-to-income ratio, loan amount, loan terms and other factors.
Hearth does not offer direct financing, but our network of lenders is able to finance popular industries such as; Roofing, HVAC, Plumbing, Sidings & Exteriors, Landscaping, Pools & Spas, Flooring, and Fencing.
If you don’t see your industry, give us a call as we can find financing options for you.
Tennessee Loan Company
3. Send a follow-up email to your customer to confirm the form has been completed and they have selected their options.
Talking about money can be difficult. We recommend talking to your customers about financing as if it were any other payment method. Explain that financing isn’t for everyone, but everyone should explore their monthly payment options because it can help them secure the plan they want or need. With Hearth, you can add financial links and show estimated monthly payments at all points in the sales process using Hearth quotes, contracts and invoices.
Lending Partners of Hearth
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