Tickets are big, timelines are urgent (the water heater already failed), and a single prime lender typically approves barely half the homeowners who apply. Every decline isn't just lost revenue — it's a homeowner who calls the next contractor. Disconnected payments break the buying moment.
One application cascades through lenders arranged by credit tier — prime, near prime, sub prime, lease-to-own — until someone approves. The homeowner sees one form and one offer, not a string of rejections. Stacks like this routinely move approval rates from the 50s into the high 80s.
A home improvement outfit running prime-only turns away the exact customer segment that needs project financing most. Near-prime and LTO tiers approve on income and banking history. Yes, the merchant discount runs higher on lower tiers — and it's still cheaper than a dead quote.
The tier most platforms skip: in-house payment plans. You set the terms, you keep the margin, and the job closes. FormPiper is built so the waterfall, in-house plans and split credit card payments run through one platform — not three vendors with three logins.
Does a decline trigger another hard credit pull? What's the merchant discount at each tier? Does it embed in your sales process or bolt on a kiosk? Is software pricing flat, or are you paying per application? (FormPiper: flat enterprise pricing — no per-application charges.)
Customer chooses your company to do the job. Your salesperson sends one application from the tablet. Seconds later there's an approval from whichever tier fit — and if none did, your in-house plan is the backstop. Collect every payment. Close every sale.
Do I need to negotiate with each lender myself?
No — a multi-lender platform carries the lender network; you turn tiers on and off.
Will offering subprime financing cheapen my brand?
The customer never sees tier labels — they see an approval with clear terms.
What does it cost to add a waterfall?
Depends on the platform's model. Watch for per-application fees; flat pricing keeps busy months from punishing you.
Home improvement companies who run a full waterfall approve more homeowners, close bigger jobs, and stop financing walkouts. See what your approval rate could look like: Get Your Custom Demo.