Swimming Pool Financing FAQ

How can I find the best financing option for my family?

Our manager has had contacts in the mortgage and loan industry for 20+ years. Her expertise is available to anyone interested in financing their Aqua Blue Pool! When you combine our experience with our huge set of financing information options, you get the best financing options available for your family.

What should I look for in a loan provider?

The lending institutions we can refer you to specialize in swimming pool financing and are good at what they do. The number one thing to keep in mind is what monthly payment is in your budget, and then look at the lender that will offer the best rate and term to see if they can meet your needs. We will walk you through everything from start to finish.

What is required to qualify?

Different programs have different requirements. With some banks’ secured loans, the lender’s minimum credit score requirement is 650+, and the unsecured loans require 600+. There are other factors that determine qualification, which can include debt-to-income ratio, residual monthly income, and credit history.

What types of loans are available?

We offer information on secured and unsecured loans. Secured loans are considered 2nd mortgages and use the home as collateral. The rates vary depending on credit scores and equity in the home but don’t worry if you do not have a lot of equity in your home. The lenders we have partnered with can go over the 80% loan to value that lenders in Texas cannot exceed. We also offer unsecured loans, which are more personal loans, so the lender does not use the home as collateral.

What terms and rates are available?

The terms for the secured loans have options of 5, 10, 15, and 20-year terms depending on the lending institution. The rates can range from 5.25%-8.25% depending on the term, equity, and credit score. With the unsecured loan, the terms are 5-20 years options. The rates for the unsecured range from 6.99% and up depending on credit score, credit history, and other factors.

How long does it take to get a loan?

Usually about three weeks. This can be a bit quicker or slower depending on industry demand (the process can often be quicker, but it is normally slower during swim season!) The loan process for both secured and unsecured loans is simple. We submit the loan application and, within 3-5 days, receive a decision. If the loan is pre-approved, we will move forward.