If you use a term loan, such as a personal loan or home equity loan, for pool financing you should receive the funds as a lump sum that can be repaid over time with interest. Your process is easier because of the soft credit inquiry, then you get offers, find the best one, and take it., I was pleasantly surprised how easy this process was. You may or may not be able to negotiate the price of a new pool. You should only ask if you have a close enough relationship with said friend or neighbor that such an inquiry wouldnt be deemed inappropriate. Remember, you will have to spend some money on making sure your pool is up to code and contains certain safety features to prevent accidental drownings and other accidents. Let us take a closer look at some of the decisions you can make to lower the price of your pool construction project. You will want to consider monthly expenses for the pool, especially if you are financing the build. So, what does this mean? The platform does offer customers a number of other perks and discounts, including unemployment protection and the ability to change their payment due date once a year. It was nice to be able to see all the different offers up front., I like the easy online and 100% paperless experience of Acorn Finance. You will want to be in the good to excellent range before applying for a pool loan. Financing How To Find The Cheapest Travel Insurance, LightStream: Best for Low, Competitive Rates, LendingPoint: Best for Fast Funding & Below-average Credit, Universal Credit: Best for Comparing Multiple Offers, cleaning devices and maintenance supplies, 5 Personal Loan Requirements To Know Before Applying, Personal Loan Calculator: Estimate Your Payments, Best Debt Consolidation Loans Of May 2023, Does not offer direct payment to third-party creditors for debt consolidation, Some applicants report difficult qualification standards, Not available in Nevada and West Virginia, Borrowers can use loans to cover business expenses, Offers direct lender payoff for debt consolidation loans, Charges fees for origination, late payment and insufficient funds, All personal loans charge a 4.25% to 8% origination fee. Ways like selecting certain materials or having a smaller pool built can save you money as well. Make a splash and apply for a pool loan today! Anything lower than a 610 and you may have to consider supplying some sort of collateral to secure the loan or find a cosigner.