How Much Do I Qualify for a Pool Loan?
Deciding to increase your home’s worth with a pool can be confusing if you have never done it. To ensure the smoothest experience. The best thing to do first is get prequalified for your loan by filling out several swimming pool loan applications. This process lets the bank or other financial institution to check your credit score, debt to income ratio, and overall ability to pay before you commit to building your pool. Of course, how much you individually qualify for will be dependent on your income level. This may differ based on what lender you are working with. Ideally, a significant down payment will help you get a better loan, with a lower interest rate. Because it shows the lender you have the ability to save money and disposable income.
It also shows that you are serious about the financial commitment pool loans are. Prequalifying for your loan will give you an exact amount. That, the lender will provide for your pool, the interest rate, and any other fees that will be included in building your custom pool. Prequalifying will also not affect your credit score. Unlike applying for a loan and being denied. It also will allow you to shop around to find free quotes. And who will give you the largest loan with the least interest rate without affecting your credit score. You can then call pool builders in Las Vegas for free pool quotes. Getting free pool quotes is very important so you can get the best deal.
There are many institutions we at Summerlin Pools Las Vegas recommend for swimming pool loans. They are Light Stream Pool Loans, HFS Financial, Lyon Financial, Lending Tree, AMS Financial, The Lending Club, Paramount Capital, The Finance Source, The Lending Group, and CoreVest. Of course, you can go through any bank or other institution which will lend money for a pool loan, but these are groups that are known for doing swimming pool loans and which we have worked with in the past.
Summerlin Pools Las Vegas is an experienced custom pool builder that will build your pool efficiently using high quality materials that will increase the value of your home. Pool prices vary based on size and materials. Small simple pools will cost about $20,000 while large pools with the highest end materials can be as much as $100,000. Adding other luxuries like hot tubs or jacuzzis will increase the price so it is important to call and get free quotes from builders to ensure you get the best deal on your custom swimming pool.
The swimming pool loan application process may be an intimidating experience especially if you have never done anything similar, but it is important to remember this is an investment in your home that will be increase the value of your home as well as provide ample opportunities for family fun. The dog days of summer will not leave you trapped inside in the air conditioning. Swimming is also a great form of exercise. Obviously, the benefits of a quality pool are not only financial, and you can pay back the pool loan quickly if you want.
Each person and custom pool are different so the amount you will need to borrow will vary between what needs you have for your pool as well as your current financial situation. It is important to remember that even a small, basic pool, made of high quality materials and excellent craftmanship is a worthy investment both financially and for your quality of life. Summerlin Pool Builders wants to build your pool in Summerlin Las Vegas.