There are typically two scenarios for swimming pool financing consideration. The first is you have good equity in your home comparing the current market value of your home and what is owed on the outstanding mortgage.
The other scenario is you haven't lived in your home very long or maybe you have completed a cash out refinance of some sort in the past and you currently have very little equity in your home. If you have very little equity in your home that is ok, there are options! |
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Specialized Lenders have all kinds of programs for those with an existing mortgage. They will even consider circumstances where you currently have a first and second mortgage. They also work with credit situations where credit scores are not the strong point of the application. It's amazing how creative these specialized lenders can be with fitting you into a swimming pool finance loan.
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Local Banks are very accommodating for swimming pool financing if you have good equity in your home and a good to great credit score. Financing options for local banks may include a personal loan, refinancing your existing mortgage with the improvement being included in the mortgage balance, second mortgages, and even a home equity line of credit.
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All financing and lender companies presented are not affiliated in any way with us and all marks are the property of the respective owners.
