Frequently Asked Pre-Qualification Questions

What is a pre-qualification when applying for credit?

What is the purpose of pre-qualifying an applicant?

Is funding provided to my practice at the pre-qualification stage?

Will a down payment be required after the final application decision?

Does an applicant have to be in the office to pre-qualify?

What is a pre-qualification when applying for credit?

Pre-qualification is a quick way for someone to find out if they’re likely to be approved for financing without hurting their credit score. It uses basic personal details and a soft credit check, which doesn’t show up on their credit report or affect their score in any way.

With HFD, there’s never a hard credit check, even if the patient moves forward. That means they can safely explore their options and see how much they might qualify for, all before making any financial decisions.

What is the purpose of pre-qualifying an applicant?

Pre-qualifying an applicant quickly shows if a patient is likely to be approved for financing, without affecting their credit score. This gives your team early insight into eligibility, enabling more confident financial discussions and helping you focus on patients ready to proceed.

Is funding provided to my practice at the pre-qualification stage?

No, funding is not disbursed based solely on pre-qualification. A pre-qualification must be converted to an active payment plan to receive funding. For instructions on converting a pre-qualification into an active payment plan, refer to this section in the Guide to Pre-Qualifying Your Patients. 

Will a down payment be required after the final application decision?

In some cases, yes. A down payment may be required at the time of final credit approval.

It’s important to note that pre-qualification offers are subject to change based on the full credit evaluation completed during the final application.

Does an applicant have to be in the office to pre-qualify?

No, applicants do not need to be in the office to pre-qualify. You can easily send them a link directly from the Provider Portal via text or email.

Additionally, you have the option to use a custom pre-qualification link by service type. Just copy the URL from the Settings page and send it using your own practice email or communication system.