54% of Americans have what is considered a prime credit score or higher, meaning they’ll secure the highest approval odds and best rates when applying for a lending solution. But your homeowners are more than just a credit score, and plenty who fall short of qualifying for prime approvals still want financing. And there are options for them. How could contractors benefit from tapping into available options for this underserved 46%?
In this breakout session, our financing experts will discuss how waterfall lending is an excellent tool for helping contractors broaden their customer base. We’ll provide a breakdown of how lenders assess risk, as well as debunk some common misconceptions about second- and third-look lending. Those who attend this session will leave armed with practical information that helps them better field homeowner questions.
In this session, you’ll learn:
- The power of a “yes” for virtually every customer
- The underwriting criteria to approve these customers
- The appropriate pricing and setting of consumer expectations
- The subprime market vertical in multiple industries across North America