How to Enable Homeowner Financing
Follow these steps to enable financing options across your entire account or for specific individual projects.
Enabling Globally via Settings
Click on the Gear Wheel icon in the top right corner of the dashboard to access Settings.
In the left-hand navigation menu, select Payments.
Locate the Home Owner Financing section.
Click the toggle switch next to Show Financing options on your estimates and invoices to enable it. You do not need to fill out any additional applications to activate this feature.
Enabling at the Project Level
If you prefer to manage financing on a case-by-case basis, you can enable it within a specific estimate.
Open the project and enter the Edit Estimate area.
Click on the Info tab located at the top of the estimate editor.
Scroll down to the Homeowner Financing section on the left sidebar or main panel.
Toggle the Show Financing options on your estimates and invoices switch to On.
Customer Application Process
Once enabled, any invoice or estimate sent to a client will include an option to view monthly payment offers.
Prequalification: Customers can check for pre-qualified offers from multiple lenders with no impact to their credit score via a soft credit pull.
Loan Details: Offers typically range from $1,000 to $100,000 with terms between 2 and 20 years.
Funding: Once a customer chooses an offer and receives final approval, they can often be funded in as little as 24 hours.
Troubleshooting
Financing option not appearing on sent estimates: Ensure the toggle in Settings > Payments is active. If you enabled it after creating the estimate, you may need to go into the specific project’s Info tab to ensure it is toggled on for that individual record.
Unable to see the Payments tab: Check your user role permissions. Access to financial settings typically requires administrative or billing privileges.
FAQs
Does checking for financing impact my customer's credit score? Checking for pre-qualified offers uses a soft credit pull which does not impact their score. However, if the customer chooses to move forward with a specific lender's offer, that lender will perform a hard credit pull.
Does this change historical estimates or only new ones? Enabling financing globally will apply the option to new estimates and invoices moving forward. For existing estimates that have already been created, you should manually verify the toggle is active within the Info tab of that project.
Are there any fees for me as a contractor to use this? No, there is no additional application or fee for the contractor to enable the Acorn Finance integration through KonstructIQ.