Business

Do You Offer Financing For Plumber Projects Near Me?

Offer Financing For Plumber Projects Near Me

Plumbing systems are complex and highly invasive, as plumber near me work inside walls and under floors to find issues, repair leaks and install replacement faucets, toilets, tubs and more. These projects can be expensive, and they often require upfront payment for materials, labor and parts. For this reason, many homeowners turn to plumbing financing for assistance with their home plumbing repairs and upgrades.

With a few options available, plumbing customers can finance their plumbing services and get comfort in knowing they can pay off their loans with affordable monthly payments. Homeowners can use personal loans, home equity lines of credit (HELOC) or even secure second mortgages. However, not all plumbing companies offer customer financing. If your plumbing company doesn’t offer plumber financing, you may be missing out on a valuable sales tool that helps you close more jobs and improve customer experiences.

There are many different plumbing customer financing options to choose from, and each lender has its own terms, loan amounts, interest rates and qualification requirements. Some of the most popular include GreenSky, Service Finance, Turns and Financeit. Many of these companies allow homeowners to prequalify for a line of credit by providing some basic documentation like proof of identity, income verification and homeownership information. After submitting this documentation, the borrower can receive an approval in as little as 60 seconds with personalized loan terms and pricing.

Do You Offer Financing For Plumber Projects Near Me?

Some of the other plumbing financing options homeowners can consider for their home plumbing repair and upgrade needs are personal home improvement loans, which are unsecured installment loans offered by banks, credit unions and online lenders. These loans are typically based on the borrower’s credit and income history, and they can provide flexible repayment plans with competitive interest rates.

A HELOC or home equity loan is a secured second mortgage that uses the homeowner’s home equity as collateral. These types of loans can provide higher loan amounts than other financing options, but they also have more stringent requirements. If a home owner fails to make payments, they risk losing their property.

The good news for plumbers is that customers want to be able to afford their home plumbing services and products, regardless of their credit. That’s why offering plumber financing is a smart business strategy. One plumbing company saw a jump in its standard and tankless water heater conversion rate after it implemented better training and integrated customer financing. The plumbing company’s techs now use ServiceTitan Mobile to automatically display the best, no-interest and low-payment financing options for all standard and tankless water heater installation jobs. The integration removes the awkwardness for plumbing technicians who might be hesitant to mention financing, as well as the extra step of having the customer fill out an application and submit documentation on a separate website. In this way, the plumbing company can streamline the customer financing process and ensure that all financed jobs remain profitable.

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