Conversations That Convert
The 25% Upsell: How Offering Home Improvement Financing Drives Larger Projects with Larry Collins
THE 25% UPSELL: HOW OFFERING HOME IMPROVEMENT FINANCING DRIVES LARGER PROJECTS Larry Collins of HFS Home Improvement Loans joins Rick to explain why remodelers who offer financing to customers close bigger, more profitable jobs. THE CORE INSIGHT: → Homeowners spend about 25% more once they see an affordable monthly payment→ Almost no remodeler asks a lead if they're paying cash or financing→ That one missed question is costing contractors real project size HOW THE LOAN WORKS: Rates from 7.89% to 13.99% Approval up to $450,000, terms up to 30 years Approved for 20% more than requested Funded in 5 to 7 business days No prepayment penalty, ever HELOC VS. PERSONAL LOAN: HELOC needs 20-30% home equity HELOC carries a variable rate HFS loans skip the appraisal and lock a fixed rate for 30 years WHAT WORKED: ✓ A financing link in the appointment confirmation email✓ A one-page flyer at the first meeting✓ Soft credit checks that never touch the customer's score WHAT DOESN'T WORK: ✗ Treating financing like a big-box retailer tactic✗ Waiting until the estimate to bring it up for the first time KEY INSIGHTS: → Nearly 25,000 contractors nationwide already use HFS→ Design-build clients use financing on purpose, not necessity FINAL MESSAGE: Stop assuming every lead is paying cash.Offer financing to customers as a standard part of every pitch.Bigger jobs follow. Learn more: hfsfin.com
