Buildertrend, a cloud-based software provider for homebuilders, has teamed up with Rocket Loans to streamline the process of applying for home-improvement loans.
Almost half of homeowners in the United States want to renovate their property within the next two years, and a third of those expect to spend over $50,000 on renovation costs, according to TD Bank’s new research.
Under the partnership, Buildertrend has integrated Rocket Loans to its platform. The integration enables contractors to recommend loan options for their customers based on project estimates. Homeowners can then search and apply for financing directly through Buildertrend’s platform.
The cloud-based management platform eliminates paper-based procedures to simplify the residential construction process. With the integration, homeowners and residential contractors can connect through the platform to ensure that all parties are on the same page in terms of project budget and financing.
“Historically, there’s been a disconnect between homeowners and contractors when it comes to financing, which is one of the most critical steps in determining the outcome of a remodeling project,” said Buildertrend co-founder Dan Houghton. “By partnering with Rocket Loans, we’re closing this gap and enabling Buildertrend users to play an integral role from the beginning, helping homeowners apply for the project loans they need to make their remodeling dreams a reality.”