Some Facts About Swimming Pool Financing

by Pool Builders on 08-25-2009 in Articles

If you live in the southern part of the United States, you are keenly aware of how many of your neighbors have swimming pools. It seems that owning a pool has been transformed from a privilege to practically a right. Of course, if it makes you feel better, not everyone is paying for these pools with their available cash. Many are using financing. Therefore, we are going to uncover some truths concerning pool financing.

The reality is that almost half of all swimming pools are built on borrowed funds. That is right, more than half of the people who build pools go to a lending institution to finance the pool's construction. Of these people, a significant number of them usually approach their mortgage lender or local bank or credit union for financing. Unfortunately, this isn't always the cheapest option.

If you do choose this option, you most likely will be getting a home improvement loan in the form of a home equity loan. The amount of money you will be able to borrow will be directly proportional to the amount of equity in your home.

Another thing that many people don't know is that many swimming pool builders offer their own financing plans. Since these builders specialize in this type of financing, it is often possible to find the best financing terms and conditions on these loans.

We believe that now that you are aware of how many people really do use financing to build their swimming pools, you will feel better about not having one. But if you still feel the desire to build one, you will know where to look for the best financing deals.

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