How Long Can You Finance A Swimming Pool For?

How deep is a 12×24 pool?

Standard In-Ground Pool Volumes in Gallons by SizePool Size (in feet)3.5 ft Avg Depth4.5 ft Avg Depth12x247,6009,70014×2810,30013,20015×3011,80015,2008 more rows•Mar 11, 2020.

Can you get financing for an inground pool?

Secured loans are the most preferred financial option amongst homeowners installing a custom inground pool as it usually offers lower interest rates and payments can be spread out over a longer period of time. An unsecured loan doesn’t require collateral and for that reason is more risky for the lender.

How much is a 12×24 inground pool?

How much does a 12×24 inground pool cost? A small vinyl liner pool that’s about 12 feet wide and 24 feet long might cost you between $25,000 (for the basics) and $35,000 for additional features like heating and fencing.

How much are monthly payments for an inground pool?

Typically, you can finance anything between $5,000 to $100,000. Rates depend on your credit score and the number of swimming pool payment years. For instance, if you get $25,000 financed, at 5% for 15 years, you are looking at paying $200 each month.

Can a pool be added to a construction loan?

Ascertain how much financing you will be able to secure from a lender for building your pool. The total amount of the loan must be enough to pay off your existing mortgage and pay for the pool construction and it must match the projected value of your home after the contractor finishes the pool construction.

Is a 15×30 pool big enough?

For a family of six to eight people, an 18 foot by 36-foot pool is recommended. This should be sufficient to avoid crowding and allow for the playing of games. Rectangle shaped pools look best for this size.

What credit score do you need to finance a pool?

670What Credit Score Do You Need to Finance a Pool? Although individuals with less-than-desirable credit scores may still qualify for pool financing, in general, however, you’ll want a credit score of at least 670, though scores of 740 or higher will result in lower interest rates and more affordable monthly payments.

What is the cheapest type of inground pool?

vinyl liner poolsOverall, vinyl liner pools are the cheapest inground swimming pools that money can buy. It’s rare to find a pool builder who can build a concrete or fiberglass pool at a vinyl liner pool price.

Whats the average cost for a inground pool?

Mid-range pool installation “Both fibreglass and concrete in-ground pools start from $25,000 and they’ll go all the way up to $100,000 to $150,000 in residential developments,” Rose said. “The average person will spend around $45,000 on an in-ground pool.”

Is it hard to finance a swimming pool?

It may be difficult to qualify for pool financing While some lenders may be willing to provide financing to homeowners with fair or even bad credit, these loans typically come with even higher interest rates.

What is the cheapest way to get an inground pool?

The best cheap inground pools The three most popular materials used to make inground pools are concrete, fibreglass and vinyl-liner. Concrete pools are often prohibitively expensive, so those looking for a cheap inground pool solution will usually choose a fibreglass or vinyl-liner pool.

Are pools worth the money?

Not only does a pool increase your social worth, but it can also increase the value of your home. But probably not as much as you think. According to HouseLogic, there’s no real guarantee that you’ll make your money back. In fact, adding a swimming pool may only increase your home’s value by 7%.

How close to a house can a pool be?

25 feetMost municipalities require swimming pools to be as much as 25 feet away from the house, property line or other structures. Check with your local regulators to find out exactly what the rules will be for you.

Is it smart to finance a pool?

Financing a pool is smart when you meet the credit requirements for a loan, and when you can afford the monthly payments. Keep in mind that while swimming pools are great for personal enjoyment, they don’t always have the highest return on investment.

How do you qualify for a pool loan?

What Information Is Required on a Pool Loan Application?Social Security #Driver’s License #Work Status.Amount and Sources of Income.Total Monthly Housing Cost.Home Equity.Liquid Assets.Retirement Assets.

How can I save money on my inground pool?

If you want a pool without the high price, there are ways to keep costs down:Get multiple bids. … Think about the big picture. … Go with a simple design. … Limit the materials. … Forgo the bells and whistles. … Pay attention to size. … Do your own maintenance. … Build a self-sustaining pond instead.More items…•

Which type of inground pool is best?

Gunite. If you are installing a pool in your backyard, there are many types to choose from. A popular choice is a gunite swimming pool because it is highly durable and it can be created in just about any shape. Gunite pools use a rebar framework that is sprayed over with a concrete and sand mixture.