COVID-19 news and updates change quickly and frequently. Some of the information in this article may soon be out of date. We will do our best to keep details updated during this challenging time. The article below reflects information as of April 21, 2020.
Most home improvement projects are an investment for homeowners, especially trades that require large budgets, like roofing, solar, and windows. Through our homeowner surveys, we have learned more than 80 percent of homeowners would like to finance part (if not all) of their home improvement projects. Now is the time to proactively provide finance solutions for all of your customers.
There are multiple benefits to offering financing to homeowners. Contractors typically see an increase in close rate and job size. Homeowners have a better ability to upgrade to better quality energy-efficient solutions— which creates a happier customer overall.
While across the United States homeowners are home during this pandemic, now is an excellent time to consider your financing partners:
Sunlight Financial specializes in solar projects but does offer financing options for home improvement projects. Sunlight partners with contractors nationwide to provide homeowners with financing for home improvement upgrades, including the installation of residential solar systems. They offer highly competitive loan rates for contractors, and flexible payment options for homeowners, including a wide array of APRs and terms that range from 5 to 25 years.
Learn more: sunlightfinancial.com
Renovate America is a trusted Modernize partner and works to provide contractors with the tools they need to grow their businesses.
Through Renovate America’s Benji financing homeowners can receive competitive rates, flexible terms, and instant decisions. Renovate America’s HERO financing is built for energy-efficient home improvements, and rates are fixed for homeowners.
Renovate America offers low dealer fees, and “no-interest, no-payment” options. Most contractors are able to receive payment within 48 hours after a project is completed. Renovate America’s support staff is available seven days a week to provide assistance to your team before, during, and after a project.
Learn more: renovateamerica.com
Mosaic believes that financing for modern home improvements should be simple and worry-free for both contractors and homeowners. Mosaic works with leading solar and home improvement companies across the nation to offer financing for solar energy systems, batteries, and a number of home improvement projects. Mosaic offers an app for contractors that enables a seamless way to provide financing options to homeowners by differentiating their offers from competitors and upselling services.
Learn more: joinmosaic.com
By partnering with financial lenders, you can provide more options to homeowners— allowing you to begin —and complete— their large scale home improvement projects.