Best Texas Swimming Pool Financing Loans

How Do I Finance A Pool In Texas?

If you’re looking to finance a pool for your home in Texas, there are a few different loan products you can utilize depending on your budget and personal finances. The type of pool and cost can also impact which type of financing is best. Here are some options for pool financing in Texas. 

• Home improvement personal loan: A popular way to finance a pool in Texas is by obtaining a personal loan. These loans are unsecured lines of credit that don’t require you to put your house up as collateral, and instead focus on your personal credit score. While rates may be higher, you can receive funds faster. For above-ground pools or pools below $100,000 this can be a good option. To compare offers with no credit impact, check offers at TGUC Financial.

   

• Cash-out refinance: If you have a lot of built-up equity in your home, you can cash out on that equity through refinancing. When you refinance your mortgage, you’ll replace one mortgage with a new one, and receive a lump sum of cash which you could use to install a pool. This can take several weeks, and you’ll have to pay closing costs. Additionally, depending on current interest rates, your monthly mortgage payment could be higher. Consider carefully. 

• Home equity line of credit: Otherwise known as a HELOC, a home equity line of credit is when you use your home’s equity to establish a revolving line of credit that you can utilize for home improvement projects, like a pool. This can be a useful way to get cash from your home’s equity without refinancing. Similar to a cash-out refinance, the process can take several weeks. 

What Credit Score Is Needed To Finance A Pool?

Each lender will have a different credit score requirement when applying for pool financing in Texas. If you plan to apply for a personal home improvement loan, most lenders will require a credit score of 600 or higher, but credit score is not the ultimate determinant. Factors such as income and employment can weigh on the decision too. If you are hoping to use a HELOC or cash-out refinance, you will likely need a higher credit score, closer to 700, and of course equity in your home. Some lenders can disclose requirements before you apply to help you find the right lender to apply with.

At TGUC Financial, you can review your loan offers without any impact on your credit score, allowing you to get pre-qualified quickly for pool financing in Texas. 

What Are Typical Pool Financing Terms In Texas?

Terms can vary significantly. From the length of the loan to the repercussions for a late payment, the word term in the lending world can refer to a lot. Carefully review the large and small print of any loan offer before accepting. Ask questions if you have them. You’ll want to understand the terms clearly. No pun intended, but at TGUC Financial you can unlock home improvement loan offers with terms between 2-15 years depending on credit score. 

Remember that a longer term may bring your payment down, but it may also increase the total loan cost. 

What Is The Smartest Way To Finance A Pool In Texas?

The smartest way to finance a pool in Texas is to select the option that works best for you and your financial situation! If using a secured loan like a HELOC or cash-out refinance is beneficial to you, then explore those options with a lender. On the other hand, if you find that you would rather opt for an unsecured loan, a personal home improvement loan can be a smart way to get the funds you need quickly. Ultimately, it’s a personal decision based on your finances and home. 

Is It Hard To Finance A Swimming Pool In Texas?

Financing a pool in Texas is a simple and streamlined process thanks to the wide availability of private lenders that offer home improvement loans. If you are looking for the fastest way to get approved and access funds, online lenders that offer personal loans are an easy way to get financing for your pool. Check offers now!

Can You Roll A Pool Into Your Mortgage In Texas?

Yes! One way you can roll your pool costs into your mortgage is through a cash-out refinance. When you apply for your new mortgage, you can get a loan that covers the cost of the pool installation and incorporate it into your monthly mortgage payments. 

Is Installing A Pool A Good Investment In Texas?

In the South Central region of the U.S., adding a pool to your home can increase its value by over $30,00 on average. By adding a pool, you can increase your home’s value, while also adding to the livability and amenities you and your family enjoy. Plus, thanks to the warmer climate of Texas, you’ll be able to use the pool for several months of the year. 

How Long Can You Finance A Pool Loan For In Texas?

Loan length can vary depending on the type of loan, and what you qualify for. For example, the length of a personal loan can range anywhere from 2 years to 15 years, while a HELOC can last up to 30 years. Make sure to consider this when deciding which loan type is best for your pool financing in Texas. Don’t forget to consider the total loan cost when considering the length of the loan. It’s easy to hyperfocus on the payment, but that can be a costly mistake. 

How Can I Save Money When Installing A Pool In Texas?

If you’re looking to save money on your pool installation, consider cutting back on the size of the pool or substituting high-end materials with more affordable options. A vinyl pool can be up to $20,000 less than a fiberglass pool of the same size, presenting a huge cost-saving opportunity. You can also save money upfront by completing landscaping and adding additional equipment after the pool has been installed.

How Do You Write Off A Swimming Pool In Texas?

The main way that homeowners write off swimming pool installations is for medical reasons. The IRS allows for pools to be deducted from taxes for strictly medical reasons, such as osteoporosis, chronic pain and arthritis. Make sure to speak with a tax professional to discuss exactly how you can benefit on your taxes from installing a pool. 

Interested in pool financing? TGUC Financial can simplify the process of shopping and comparing pool financing offers and contractor estimates. Our network of lenders and contractors is willing to compete in a competitive marketplace to earn your business. The awareness that you have several options available can work to your benefit, thus helping you find the best pool financing offer in Texas. 

Unlock Texas pool financing offers up to $100,000. . .no collateral or credit impact required.