Swimming Pool Financing Tips

by Pool Builders on 12-10-2009 in Articles

When looking to build and install a swimming pool in your home, it's best to at least consider swimming pool financing as a way to purchase your pool. Many people do not know about this type of loan, and thus forgo the many advantages of pool credit financing.

First, you need to realize that adding a pool to your home adds value to your home. In other words, such an addition should be looked at and treated as an investment, which is one of the best reasons to add a swimming pool (in addition to the amazing fitness and fun benefits you can enjoy).

Fortunately, there are special companies that have been set up to help you make this investment. These companies specialize in making pool loans to people just like you, and can help you get the pool of your dreams, no matter the type you are desiring.

Some of the things you should look for in good financing for a pool are:

1. A reputable company
2. A company that will take into consideration the value that your pool is adding to your home.
3. A company with good pool loans rates
4. A company with good, knowledgeable customer service

Most times such companies will extend you either a pool loan or a total home refinance. If you can make the home refinance work, that may be the best way to go for several reasons. First, they should take into consideration that the value of your home will be increasing. This will help you refinance at possibly lower rates and may help you even lower your monthly cost. However, be careful to not take too much equity out of your home (i.e. borrow too much). Try to keep close to the same debt/equity ratio, and make sure that you don't leverage your home too much, or you may find yourself in trouble going forward if you get hit financially.

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