As an experienced pool builder we know that the process of obtaining funding for your back-yard project can be a daunting task these days to say the least. It’s almost a necessity for one to “qualify” for funding if you plan to finance your project BEFORE you begin to do all the planning and processes necessary for design and cost estimates. You don't want to plan your project in detail only to find out you can not obtain enough funding to do the project in the proper manner. We highly encourage our potential customers to look into financing if they are serious about building a swimming pool and starting the planning and design process.
The application process is free and the customer does not have to commit to financing until they OK any loan papers. Once the application is submitted the loan process can begin. The minimum amount of time for the home equity loan or line process is 7 business days. On an unsecured loan two business days maximum.
Most decline loan applications are turned down due to high debt, high revolving debt or low home value. Having our lender personally working on pool financing gives the customer other options than a decline. Also; if a customer has a certain budget that they need to stay within to afford the project a banker can work with them to get the loan term or rate comparable to the customers’ ideal monthly payment.
Our lender can offer competitive rates on home equity loans, home equity lines of credit, unsecured home improvement loans and personal lines of credit.
Home equity loans do not have a payment until the money is used and there are no prepayment penalties. If someone does not have enough equity in their home to secure a project loan a banker will be able to offer an “unsecured” product or line of credit.
Some of our customers have taken advantage of financing two loans, a home equity and an unsecured to be able to finance the exact amount or monthly payment that they need.
Consolidation of existing debt can also be accomplished sometimes as well. With rates as low as they are now, this is a viable option for some potential clients. It’s always best to just apply and see where one stands and the options you may be qualified for your project.
As a member of the Blue Haven Pools network of builders, we offer financing through that organization. You can view the application here.