It can only be used with your approved contractor. Our focus on pool financing means that unlike most banks, credit unions and investors, we develop loan products specifically designed for pool construction. Here's a closer look at Viking Capital vs Lyon Financial: Viking Capital is a direct lender, meaning they provide financing directly to consumers. The best way to find out is to use a loan calculator. I would highly recommend! He even suggested my husband co-signing which after fixing 1 thing on my husbands credit report got us approved for funding. This can make it difficult to qualify for traditional loans from banks or credit unions. He gave me ideas on areas to improve my credit score so I could get approved for funding. There is no prepayment penalty! Your contractor charges your shopping pass at milestones stated in your pool contract with a required 30% draw at completion. Your Viking Capital Loan Representative will go over all your loan options and their respective terms and payment amounts. What Is a USDA Home Loan, and How Do You Lower interest rates via the Rate Beat Program, Generous 0.5 percentage point autopay discount, User-friendly loan management via mobile app, Preferred contractor network of highly experienced pool builders, Scope of work information required for fund disbursement, Generous rate discount for military service members, Payment deferment available for unemployed borrowers, Wide variety of other loan types available. Viking Capital Loan Specialists give personal attention to every borrower and take the time to understand their financing needs and qualifications. Visit Lyon Financial for More Information. Both are well-known and respected lenders in the industry, but there are some key distinctions between them. Branch of service: Air Force, Coast Guard, Army, Navy, Marine Corps or reserves for these branches. The model has simulated Vikings vs. Lions 10,000 times and the results are in. Payment example: Monthly Payments for a $200,000 loan at 6.49% APR with a term of 30 years would result in 360 monthly payments of $1,262.82. This is because the loans from these pools are typically for high-risk ventures, so lenders will want to see that youre a low-risk borrower. A: Yes, the applicant must be listed as the owner of record on the deed to the property where the pool is to be constructed. Our staff and business partners are proud to offer our lowest rates to those with military affiliation.