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SWIMMING POOL FINANCING

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Pool Financing Knowledge Bank

Pool Loan Options

SWIMMIING POOL FINANCING – THE DIFFERENCES

Cash-out refinance: Refinance your mortgage with a new one. Usually, this includes fees and may increase your monthly payments or loan term.

Home equity line of credit (HELOC): A HELOC is a line of credit secured by the equity you have built in your home. Utilizing a HELOC is much like creating a second mortgage, since it increases your overall mortgage balance.

Home equity loans for swimming  pool financing: Similar to a HELOC, this type of loan typically has a fixed rate. The downside is the likely addition of closing costs. Utilizing your home as collateral is also not risk-free.

Loans specifically for swimming pool financing: A swimming pool financing loan does not utilize your home as collateral, so there’s no foreclosure risk. In most cases, a swimming pool loan gets funded faster than other loan types.

Save Your Cash!

ADVANTAGES OF SWIMMING POOL FINANCING

Many pool owners wait until they have enough savings to purchase their pools. However, there are real advantages to swimming pool financing via a loan, rather than paying cash:

If you are a savvy investor, chances are good that your investments make more money than what you might spend on loan interest.

Financing your pool also keeps your cash available for unpredicted expenses or emergencies.

You can build your swimming pool when you want it, rather than wait for your savings to accumulate.

Establishing Your Budget

When developing your pool budget, make sure you plan for the “little extras” that come with pool ownership. Of course, your budget needs to include the cost of materials, installation, and custom pool features like slides and waterfalls, but don’t forget to factor in permitting, maintenance, and utilities.

Understanding FICO

Your FICO Score is a tool utilized by lenders to determine your ability to pay back a loan. FICO uses advanced math and analytics, to calculate the risk of lending you money and to determine the interest rate on your pool loan. Your FICO score is based on the information found on your credit report.

You can review your credit report at any time to ensure all information is accurate, so that you receive a fair rate on your pool loan.

Calculate Your Pool Loan

*Your APR and monthly payment may differ based on loan purpose, amount, term, and your credit profile. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Exact interest rate determined by credit profile.

How to Get a Pool Loan

4 Easy Steps to Swimming Pool Financing…

GET MORE INFORMATION ABOUT SWIMMING POOL FINANCING

Want more information on swimming pool financing? We want to make your dream of owning a pool a reality. Contact us for more information on the best pool loans available.