Customer financing

Clavoz does not lend and does not take applications. It shows a homeowner
roughly what a monthly payment could look like, and sends them to the financing
partner you already work with — where the lender's own terms, disclosures and
credit decision live.

Connecting your portal

Settings → Customer financing:

1. Paste your portal link (Hearth, Wisetack, Acorn, your bank). A blank link
   clears it.
2. Leave Offer financing on proposals on.

The link stays on file if you switch the offer off, so turning it back on needs no
retyping.

The estimate

Standard amortisation of the proposal amount:

$$
P = \frac{r \cdot PV}{1 - (1 + r)^{-n}}
$$

where PV is the amount shown on the proposal, r is the monthly interest rate
(the annual rate divided by 12 and by 100) and n is the term in months. The app
uses a 60-month term at 9.99% by default, and rounds to the cent.

At 9.99% over 60 months, $12,000 is $254.91/month. The same job at $24,000 is
$509.82 — the estimate is linear in the amount, which is why the teaser can safely
follow a tier selection.

When the teaser appears

Why the $500 floor: "Estimated $11/mo" under a $400 repair reads as a joke,
and a teaser that reads as a joke costs a signature. Below the floor the app
says nothing at all rather than something silly.

What the homeowner sees, and what it does not say

The teaser shows the estimated payment and the term, and states plainly that it
is an estimate and not an offer of credit. It does not print an interest rate:
quoting a rate in an advertisement carries disclosure duties that belong to the
lender whose portal the homeowner is being sent to, and their page carries them.

Related

• Gross Margin & Contingency — the
  price the payment is calculated from.