Wanted to get feedback from the board and maybe opportunity for the lenders here to bid. We are strongly considering building a pool, could pay cash but would like to run the numbers on a finance option. Thanks

Ragoo said:

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Wanted to get feedback from the board and maybe opportunity for the lenders here to bid. We are strongly considering building a pool, could pay cash but would like to run the numbers on a finance option. Thanks

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Can you use a HELOC? Nothing tied further, acts a line of credit. Might be worth it if you've got the cash.

Flagstar bank is running a 4.99% HELOC special for the first 6 months and then 8.49% after. You only pay interest charges for the first 10 years.

How long you planning to take to pay it off? I used LightStream for a boat purchase. Personal loan in about 24 hours for foks with high credit scores. No proof of income or any other documentation. Crazy easy. No fees but higher rate. I wouldnt want to hold the loan for years but short term, it's not bad.

Used Lyon financial twice before. They're well known to pretty much every pool builder.

Overall experience during construction was good and post construction loan payment process fine too both from a monthly payment perspective and when I paid off early upon selling the house.

Would use again.

Frost has historically had the best pool and home improvement loan programs.

jja79 said:

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Frost has historically had the best pool and home improvement loan programs.

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We just built a pool this past winter, shopped around and Frost was the best option

Their LTV guidelines are the most user friendly I've seen.

Built a large covered patio two years ago, took Frost about three weeks from initial loan application to funding and that was because we went on vacation for a week and couldn't close when they were ready. The loan officer would call me on Sunday evening to let me know ahead of time what documents he was going to be asking me to email him during the week.

We do all our banking with Frost now.