With backyard pool costs rivaling the price of some luxury cars, this renovation project may seem like a pipe dream. Because some lenders treat pool loans as a dedicated loan product and others provide pool installation funding through personal loans or home improvement loans, loan terms can vary quite a bit. Terms, amounts, and APR may differ based on loan purpose and credit profile. Additionally, borrowers must have at least two years of verifiable income and asset documentation. Some of the other highlights of working with Lyon Financial: Loans up to $150,000 . Maximum loan amount of $75,000. We have invested in state-of-the-art technology to keep your information secure and to make our process as efficient as possible. A: Yes, the applicant must be listed as the owner of record on the deed to the property where the pool is to be constructed. If the pool builder of your choice has not worked with us before, there is a brief setup process. Qualifying for a loan with bad credit can be tricky, but its not impossible. One option is an adjustable-rate mortgage (ARM). Thank you for the kind words and for taking the time to leave feedback for us. I was almost ready to give up on the possibility of getting a pool but Ryan worked with me for months. You are only required to pay interest on the funds charged during the first 7 months of the loan. Your APR may differ based on loan purpose, amount, term and your credit profile. Conditions and limitations apply. A: We work across the 48 contiguous states of the United States. Subject to credit approval. A: No, we do not currently finance any owner-builds at this time. L. In return for setting up automatic payments on their accounts, borrowers may be able to shave a certain amount off their APR, which would mean owing less interest over the life of the loan. Apply Now. Birdeye helps millions of local businesses to be found online with all their reviews and accurate business information. This can make it difficult to qualify for traditional loans from banks or credit unions. As one of the leading lenders in the swimming pool industry, Paramount Capital has funded a substantial amount of inground pools for our customers. Homeowners with strong credit scores and little debt will have more options to consider, but there are easy pool loans with minimal credit score requirements available for people with fair credit to qualify for as well. Fantasy Pools - Swimming Pools We also stay involved with you and your pool contractor throughout the project, and pay your contractor directly in stages as work progresses. Lyon Financial | Better Business Bureau Profile but Viking Capital made it quick and painless. Telephone: (760) 340-2588 Email: info@newpoolconstruction.com. We may earn money or products from the companies mentioned in this post. After understanding our loan needs, he shopped around for best fit, best price, best terms and was quick to close the deal. However, because HELOCs are secured by your home equity, they usually come with lower interest rates than unsecured loans making them another good option for financing a pool. Prospective borrowers may want to be aware that SoFis rates can be somewhat high in some cases, as the maximum APR can reach 22.73 percent. Loan amount $50,000Rate 7.99%Term 20 YearsMonthly payment $418/mo. These loans may come with higher interest rates, but they can still help you achieve your goal of owning a pool. Thanks Ed! In addition, homeowners with sufficient home equity may have the option to use funds from a home equity loan for pool installations. Subject to change. Because financing a pool installation is such a large investment, Lyon requires homeowners to submit a scope of work before funds will be disbursed. This feature can help homeowners temporarily prioritize and allocate more money toward other financial obligations. Monthly payment amounts are for demonstrative purposes only and are not guaranteed to match final payment amounts for all borrowers. Financing Your Swimming Pool - Parker's Pools The decision to build an inground swimming pool is a big one. Fill out the pre-application and take one step closer to swimming in the pool of your dreams. When determining the best pool loan companies, we considered how much money homeowners might be able to borrow from each lender and if that amount would be enough to fund an inground pool. When shopping around for quotes, be sure to inquire about any origination fees or prepayment penalties so there are no surprises down the road. Viking Capital Loan Specialists give personal attention to every borrower and take the time to understand their financing needs and qualifications. After 6 months, the card expires and your payment is locked in. A higher credit score indicates to lenders that youre a lower-risk borrower and more likely to repay your debt on time. Why Choose Viking Capital for Swimming Pool Financing? Such lengthy loan terms can make it easier for borrowers to budget for their monthly payments and pay back their loan in full. Why It Made the Cut: SoFi supports various financing optionssuch as same-day funding and payment defermentfor eligible borrowers. Well also email you the link so you can view at anytime. Lyon Financial is a broker, which means they connect borrowers with multiple lenders. We offer long-term loans with low rates, catered for home improvements. Other loan providers may not have any credit score limitations at all, even offering pool loans for bad credit. No Hassles - No Excuses - Quick Answers. A: There are no prepayment penalties so you can pay the loan off early *Viking Capital offers a variety of loans that vary in rate, term, loan limits and approval conditions. In that case, it may be worth looking into local banks that offer pool loans. Below youll find answers to some of the most commonly asked questions pertaining to Lyon Financial and the services we offer. Our swimming pool loans are designed to spread the cost of the project over many years, so the monthly payments are affordable. A: Your monthly loan payment amount is dependent on many factors, including your loan amount, term, and credit profile. We may earn revenue from the products available on this page and participate in affiliate programs. The best pool loans offer large loan amounts, relatively quick funding time frames, competitive interest rates, and flexible repayment periods so borrowers can comfortably finance a pool installation. Advertised rates and terms are subject to change without notice. This could save you thousands of dollars over the life of the loan. Financing | OC Poolscapes No problem there but then I was told they wanted $1000 extra just to process payments to the people who would be doing the work. A: We offer lending solutions for your swimming pool and/or home improvement project and will match your request with a program that fits your budget. Both are well-known and respected lenders in the industry, but there are some key distinctions between them. Payment example: Monthly payments for a $75,000 loan at 4.99% APR with a term of 15 years would result in 180 monthly payments of $592.70. Make sure to read the fine print and understand all the fees and charges before signing any paperwork. It can only be used with your approved contractor. We have our loan with Lyon Financial and are very happy with their services as well as their outstanding customer service. Homeowners with higher credit scores are more likely to be approved for a pool loan and be offered better loan terms, such as lower interest rates. As long time members of the community, we try to do whatever we can to help our customers get the pool of their dreams. Viking Capital Loan Specialists give personal attention to every borrower and take the time to understand their financing needs and qualifications. I listened to him He was patient he would check my debit to credit ratio and explain where I was currently and where I had to be in order to get approved. Archived post. In this blog post, well take a look at the best pool loan companies out there, as well as some things to keep in mind when choosing a lender. Already a customer of ours? Find out how easy a pool financing could be from the company who knows pools inside and out! We fit you with the best for your needs and qualifications. The lender provides pool installation funds through personal loans, so loan amounts are capped at $40,000. We have been wanting to build a pool for many years and now that we have pulled the trigger we need a good loan company. Name * First. We have been wanting to build a pool for many years and now that we have pulled the trigger we need a good loan company. Quick and easy to work with. LightStream offers pool loans at very competitive rates, with eligible borrowers potentially receiving an APR as low as 4.99 percent. 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Apply For Your Pool Loan - Viking Capital Pool Financing Great Service - you will feel like the valued customer that you are. Lyon Financial acts as an Account Manager and is not a lender or a broker. After 40 years in the business, we still put people first. APPLY AT VIKING CAPITAL . AMS Financial : Viking Capital: Lyon Financial: Lightstream. Lyon Financial. Includes family by adoption and marriage). See eligibility details. Once we receive your application, we can typically have a conditional approval for you in 2-3 business days. The smiles start here! This is because the loans from these pools are typically for high-risk ventures, so lenders will want to see that youre a low-risk borrower. Why It Made the Cut: LightStream offers eligible borrowers low APR options, potential rate discounts, and same-day funding opportunitiesas well as a dedicated mobile app to manage their loan payments. here's everything you need to know about chlorine vs salt pools.