What Does “Under Review” Mean in Home Improvement Project Applications?
Navigating the world of home service financing can sometimes feel like learning a new language, especially when it comes to understanding various status updates. One common status that often raises questions is “Under Review.” Let’s demystify what this means and how you should proceed when encountering it.
Understanding the “Under Review” Status
In the context of Home Service Financing applications, “Under Review” typically means that your customer has left our portal and is currently working with the lender on the lender’s website. This status is part of the process and signifies that the customer’s application for financing is being examined by the lender.
The Role of the Lender’s Website in the Review Process
Once a customer leaves the Home Service Financing portal, they continue their journey on the lender’s website. Here, they provide additional information and complete the necessary steps for loan approval. The “Under Review” status indicates that these steps are in progress.
When to Check In: 24 Hours After “Under Review” Status
While the review process varies among different lenders, if the “Under Review” status has been active for more than 24 hours, it might be time for you to check in with the homeowner. This ensures that all necessary steps have been completed on their end and that there are no hitches delaying the process.
How to Proceed: Steps for Contractors when “Under Review” Exceeds 24 Hours
If the “Under Review” status remains active for more than 24 hours, reach out to the homeowner first to ensure they have completed all necessary steps on the lender’s website. If they confirm completion, you may send us a ticket for us to verify and expedite the process. Our team is always ready to assist and ensure smooth operations.
Conclusion: Navigating the “Under Review” Phase Successfully
Understanding the “Under Review” status is crucial for contractors to ensure a seamless financing process. By knowing when to check in and how to proceed, you can help speed up the review process, ensuring your projects stay on track. Remember, at Home Service Financing, we’re here to help you navigate every phase of the financing process.
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