Therefore, this section is going to discuss some of the facts covering swimming pool financing. We believe these facts will truly be eye opening.

First, nearly half of all newly built swimming pool owners use either inground swimming pool financing or above ground swimming pool financing.

Second, the majority of these people usually turn first to their home mortgage lender or local financial institution. Unfortunately, this decision can be costly in the long run.

Third, many pool builders will actually offer pool financing plans. It is definitely worthwhile to check out their financing plans, as they usually do a large volume of this type of financing.

Fourth, if you do choose to go with your home mortgage institution, you can take out a home improvement loan for the swimming pool’s construction. If you use this option, you will be able to take out a certain amount of your home’s equity. This amount of equity will be determined by your lender’s lending criteria.

Fifth, there is actually a class of loans that specialize in swimming pool financing (Hint, Hint, this may be your best option).

As far as deciding whether to build a pool or not, there are been studies which have shown that construction of an inground pool can actually increase a home’s value somewhere between eight to fifteen percent. So you not only get an increase in property value, but you can also enjoy your new investment.

Now that you are familiar with some swimming pool financing facts, we
hope you will be able to make a wise decision in determining where to seek financing. As always, if you have any questions, feel free to let us know.

The first thing to realize is an above ground pool can cost anywhere from twenty dollars (for one of those blue kid pools sold at your local retailer) to over seventy-five hundred dollars for a larger pool.  If you choose to buy a larger pool, you will have two costs to deal with.

The first cost is the actual swimming pool kit, which can range from fifteen hundred dollars all the way up to seven thousand dollars.  The main determinant in the final cost is the amount of plastic resin versus metal used in the construction of the swimming pool.  When choosing a swimming pool, you need to keep in mind that the more plastic resin used (as opposed to metal), the longer the swimming pool will last.  Of course, since a primarily plastic resin swimming pool will last longer, these pools tend to cost more than a traditional metal framed pool.

In addition to the kit, you will have to also pay for installation costs.  This can range from one thousand dollars to three thousand dollars.  If you simply can’t afford to pay for the installation costs, you can always consider taking out aboveground swimming pool financing.

Now, you may think that you could install an above ground swimming pool by yourself, and you may be right.  However, there are so many things that could go wrong.  Therefore, we recommend you hire a proven, professional swimming pool installation contractor to do the work.  It would simply be a shame to ruin a seven thousand dollar pool kit because you are trying to save a few dollars by installing the swimming pool yourself.

When you add the swimming pool kit and installation costs up, it can very quickly and easily reach over ten thousand dollars.  Due to the enormous cost, the reality is most people don’t have this kind of money readily available, which makes financing an attractive alternative.

Of course, besides above ground pool financing, many consumers choose to pay for their pools with a credit card.  This is usually a bad idea (due to the credit card’s high interest rates), especially when you consider the fact that the consumer could have obtained a pool loan at their local bank or credit union at a much better rate.

As such, we recommend you check out other financing alternatives before using your credit card.  We know that if you do, you will get a much better deal, which will result in you enjoying your aboveground swimming pool even more.

First, you should look for a lender who specializes in swimming pool loans. This is very important. As a good analogy, you wouldn’t go to a residential mortgage lender if you were looking for a commercial property loan, would you? In the same way, you should go to a lender who offers pool loans versus a lender who only focuses on automobile loans.

Second, when looking for a lending company that specializes in swimming pool financing, you should look for a company that will allow you to use your latest local tax assessment as the basis for determining your home’s worth. If you are not able to do this and the lending company requires an appraisal, this could delay your inground swimming pool financing. This is because the appraisal process can takes upwards of a month to complete.

Third, after your identify a few lenders who specialize in swimming pool finance and who will allow you to use a recent tax assessment, you should call them up and check out the terms that they are offering.

As everyone’s situation is different, there really is no one size solution for everyone. You will want to select a loan that is best for your financial situation.

As you have seen above, these three steps can make it a breeze to obtain swimming pool financing. As long as you keep these important points in mind, you will be able to find the best swimming pools financing.

If you are considering building a pool (regardless of whether it is an inground pool or an above ground pool), you may want to see what your options are.

Obviously, if you have the cash available, you could simply pay for the construction of the pool at one time. But the real question is, is it wise for you to do that?

A very simple way is to find out what the current swimming pool financing rates are and whether you could get a better return on your money somewhere else. As an example, if you can get a swimming pool loan for 7% and you can expect to make 9% in the stock market, it may make sense to finance the swimming pool.

Now if you don’t have the cash available, you have two options. You can 1) use your credit card (resulting in a bad kind of unsecured pool loans) or 2) you can secure swimming pool financing via a lender.

In our opinion, going with the first option is simply out of the question. With credit card rates often floating around the 18%+ range, it makes absolutely no financial sense to use this option.

On the other hand, if loans for swimming pools are hovering in the 8% interest rate range, it makes a lot of sense to use this option (especially when you compare it to an interest rate of 18 %+)

We hope that this section has shown you that there are numerous options available for building your new pool. While you may have the cash available, it may not be in your best interests to spend it. If you do not have the cash available, we hope that you will shy away from using a credit card and will instead contact a lender who specializes in loans for pools.

Luckily, there is a way to get that new pool. Many lenders nowadays offer loans for swimming pools. Many times these loans are considered home improvement loans, which mean that you will be charged a reasonable interest rate. If you really think about it, a pool really is a home improvement which will continue to pay dividends into the future.

Now that you have decided to move forward with obtaining swimming pool financing, you need to find a lender that specializes in swimming pool financing. You can usually find these lenders by doing a simple Internet search. Once you have a couple of quotes, you can make a smart decision about which lender to go with. Just remember, make sure the terms and conditions are right for your situation.

Once your swimming pool loan is approved, you will need to find a reputable contractor. There are numerous ways to do this. First, ask friends and family members if they know of someone who has built a swimming pool. If they do, ask these people for references. If your contacts do not know of anyone, you can call a couple of landscaping companies and ask for references. Usually, these companies will know reputable construction companies that can assist you. Once you select a contractor, you should be on-site during the construction phase (just think of all those home improvement reality shows where the construction contractors were unsupervised).

After you swimming pool has been built, all you have to do is jump in.

Now that we have shown you how you can afford your swimming pool, we hope you will consider swimming pool financing as an option. As we all know, you really do deserve it.