The evolution of financing in construction: Rocket Loans | Episode 27

On this episode of The Building Code, Steve Peters, Vice President of Sales at Rocket Loans, to talk about the newest Buildertrend Pro Services offering: the Rocket Loans Contractor Financing Program!

What is Rocket Loans?

Rocket Loans is the sister company of Rocket Mortgage and has offered personal loans for nearly four years. Based on recent trends in the construction industry, Rocket Loans is now focusing on home improvment loans.

So, where does Buildertrend come in? We recently announced our partnership with Rocket Loans to create a new Pro Services program for our clients. The program will aid our contractors in adding even more value for their customers.

It’s fast … like a rocket!

Much like Buildertrend, Rocket Loans aims to make the lives of contractors easier. Steve compares the need for Rocket Loans to financing a car. When you go to a car dealership, you are usually offered financing options, so why not have these when upgrading your home?

A major perk to the Rocket Loans process? The little time it takes to complete. For the contractor, it takes only minutes to get approved. No wonder they call themselves Rocket Loans! The application is paperless, meaning there are no pay stubs or W2s involved, which simplifies and streamlines the process even more. Basically, instead of pen and paper, contractors and clients will be using their electronic device-another similarity to Buildertrend.

Rocket Loans hopes to offer better financing options to contractors so they can close on financing quickly and efficiently. This will also allow homeowners to fully know their financing options, and the need for contractors to chase money will become a thing of the past.

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