Top Hearth FAQs

How do I help a customer see payment options through Hearth?

→ Offering Hearth to potential customers is simple: you can either send the link to your customer or they can see options in person using the mobile app. If you choose to send the link, just open up your web dashboard or mobile app and click “Send the loan form”. Once your client fills it out, you’ll be able to see the options they receive in your Track page. If you choose to offer financing in person, open your mobile app and choose “Start on this device”. Your customer will walk through the loan form and can see options in minutes.  Then you can discuss moving forward with the project!

Does seeing options through Hearth affect my customer’s credit score?

→ No, seeing options through Hearth does not affect their credit score. When your customer submits a loan request through Hearth, our lending partners do a “soft pull” on their credit. This will not affect their credit score. If they choose to move forward and apply directly with one of our lending partners, that lender will conduct a hard pull which typically has a small effect on their credit score, just like applying for any loan would. 

How will I know if my customer gets funded?

→ When your customer is approved by our lending partner and takes out a loan, you will receive a notification (via email or text) letting you know that the customer has been funded. You can also check your customer’s status in the “Track” section of your app at any time. 

How soon will my customers get the funds?

→ If approved by our lending partner, customers will typically receive the funds in their bank account within 1-3 business days. 

How can Hearth help me close more deals?

→ Showing customers an alternate way to pay with digestible, monthly payments can be the difference between a “maybe” and a “yes”. Hearth’s monthly payment calculator lets you sell with these monthly payments. Instead of saying: “This roof will cost $10,0000”, you can say: “This roof will cost $10,000, or you can pay in monthly payments if approved”.* Just open your mobile app and click “Monthly payments calculator” to get started!

What’s the benefit of offering Hearth before other financing companies?

→ If you’ve sold with financing partners in the past, you likely have a preferred option to offer as a first choice. There are two main reasons why sales pros like to offer Hearth as a first option to their potential customers. First, seeing options through Hearth doesn’t affect their credit score; so if they don’t see options they like, nothing happens to their credit score. Second, Hearth works with a network of 13 lending partners, so a customer is likely to see more potential options than they would with a single lender. 

What rates should my customers expect?

→ Rates on Hearth are determined by several factors, including FICO score, income, outstanding debt, and loan amount requested. It’s tough to know for sure ahead of time what rates your clients will see because there are so many factors considered. We assembled a rate chart to help set expectations:

*For each self-reported credit score range, pre-qualification rate is calculated by dividing the number of pre-qualified Hearth users by the total number of users who submitted a loan request.  **For pre-qualified Hearth users with this credit score range, Hearth’s lending partners returned loan options with this range of minimum APRs for the 65% of pre-qualified users with minimum APRs between the 10th and 75th percentiles.  All loan information is presented without warranty, and estimated APR and other terms are not binding. Hearth’s lending partners generally present a range of APRs (for instance, from 5% to 35.99%) with a range of terms and monthly payments. As an example, a $10,000 loan with an APR of 14.50% and a term of 36 months would have a monthly payment of $344.21. Actual APRs will depend on factors like credit score, requested loan amount, loan term, and credit history. Only borrowers with excellent credit will qualify for the lowest APRs. All loans are subject to credit review and approval.  Hearth is a technology company, which is licensed as a broker as may be required by state law. NMLS ID# 1628533 | NMLS Consumer Access. Hearth does not accept applications for credit, does not make loans, and does not make credit decisions; this site does not constitute an offer or solicitation to lend. All insurance services are provided by Hearth Home Insurance Solutions, Inc. Hearth may be compensated by third-party advertisers.

*For each self-reported credit score range, pre-qualification rate is calculated by dividing the number of pre-qualified Hearth users by the total number of users who submitted a loan request.

**For pre-qualified Hearth users with this credit score range, Hearth’s lending partners returned loan options with this range of minimum APRs for the 65% of pre-qualified users with minimum APRs between the 10th and 75th percentiles.

All loan information is presented without warranty, and estimated APR and other terms are not binding. Hearth’s lending partners generally present a range of APRs (for instance, from 5% to 35.99%) with a range of terms and monthly payments. As an example, a $10,000 loan with an APR of 14.50% and a term of 36 months would have a monthly payment of $344.21. Actual APRs will depend on factors like credit score, requested loan amount, loan term, and credit history. Only borrowers with excellent credit will qualify for the lowest APRs. All loans are subject to credit review and approval.

Hearth is a technology company, which is licensed as a broker as may be required by state law. NMLS ID# 1628533 | NMLS Consumer Access. Hearth does not accept applications for credit, does not make loans, and does not make credit decisions; this site does not constitute an offer or solicitation to lend. All insurance services are provided by Hearth Home Insurance Solutions, Inc. Hearth may be compensated by third-party advertisers.

Hearth Sales Script

Video: How to Get Funded