July 15, 2024


The Finance Effect

Where Do You Find Swimming Pool Financing?

Where Do You Find Swimming Pool Financing?

During the summertime, many people want to enjoy the luxury of using their own pool. Unfortunately, as you can imagine, the cost of a pool can be very, very expensive. If you are looking for the cheapest swimming pool option, then you may want to go to Wal-Mart and buy one of those blue plastic pools. On the other hand, if you are looking for a pool that the whole family will use and enjoy, you are going to require a huge outlay of cash.

Fortunately, there are numerous options available to those who do not have the thousands of dollars available. In case you are wondering, this category encompasses over half of those who buy inground swimming pools. Since a swimming pool is considered a home improvement, you can apply for a home improvement loan. Many lending institutions are only too eager to lend money for this type of home improvement since they know that it can dramatically increase the value of your home. Now that you know that swimming pool financing exists, how do you go about finding the right lender? There are two main options that you can pursue.

Most people will usually call their current home mortgage lender and ask them for a home equity loan or home equity line of credit quote. As long as you have equity in your residence, these options may work well for you. But as a note of caution, this may not be your best option. The second option that is available is to contact several pool builders and ask them about swimming pool financing. You may be surprised to find that this is actually a smarter way to go. Since the swimming pool builder specializes in building pools, they usually know who the best lenders are.