A custom in-ground swimming pool is a great investment in your home. Not only will a pool provide your family with countless fun and enjoyment, but can also improve the value of your home and make your property more desirable to potential homebuyers if you ever decide to put it on the market. But a custom-built swimming pool in Tampa isn’t cheap, which is why most people finance the construction of their dream pool. Here are a few things you should know about pool financing, including how to secure the best rate on a new pool loan.
Sources of Pool Financing
Although you don’t need to obtain a loan from a lender that deals specifically with pool financing, you may be able to get a better rate and get approved for a higher amount from a lender who understands how much a customer pool costs. That being said, you should shop around and compare loan amounts to find a pool loan that offers you the best terms. Your Tampa pool builder can recommend lenders to help you finance your pool construction.
How to Get a Great Rate
Getting a good deal on a pool loan is no different than any other type of loan. Before you apply for pool financing, check your credit report and fix any errors that might be negatively affecting your credit score . It’s also important that you shop around and compare rates, since different lenders will offer different terms so you never know how good of a rate you can get unless you look around.
What You Can Finance
When you get a pool construction loan, you can use it to finance every aspect of your new swimming pool as well as any additional features such as a spa, outdoor kitchen, or fire pit. That’s why it’s important to consult with a pool builder and finalize the design of your inground swimming pool and outdoor living space to get an accurate quote so you can get a loan amount that covers the entire build.