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If you finance your swimming pool
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You can use your equity in your home to increase its value.
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Additionally, the interest from your pool loan, may be tax deductible.
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You will need to contact your tax professional to be sure.
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There are several ways to finance your pool project
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Refinancing.
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Taking out a subordinate note in the form of a “pool loan”.
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Opening a Home Equity Line.
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The best option for you depends on factors unique to
your specific situation. Use
your best judgment as to which financing
vehicle is best for you but we recommend
you apply to both and see which product
best meets your need. Below you will find
two great options.
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While the best option will depend on your specific situation,
if you have equity in your home, opening a equity line is probably the most
flexible, easiest and effective financing for your pool project. Typically you
can open a home equity line quickly with minimal paperwork. When you open the
line you have access to the money, but you are likely not charged interest unless and
until you withdraw money from the equity line. This allows you to only pay
interest on the exact amount that you need for your project. Click here
.
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If you do not have equity in your home, it will be difficult
if not impossible to open an equity line. Or you may want a loan not attached
to the equity of your house. Either way
you may be able to open a specialized
home improvement loan or a new loan product called the "AnythingLoan"
(You
should learn more about the AnythingLoan
before you apply, it may not meet many borrowers
needs. CLICK HERE.)
which is based largely on excellent
credit scores. These loans are not as common as equity lines or straight
refinancing loans. Our online partners do offer some
specialty
products that may match your
situation although they may be more difficult for borrowers to meet the
qualification requirements.
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We
recommend you review both options to see
which best will meet your needs.
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1.
To
see if you qualify for home equity pool
financing Click here
.
2.
To see if you qualify for "AnythingLoan" pool
financing Click here
.
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(You
should learn more about the AnythingLoan
before you apply. CLICK HERE.)
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* (The links
above will
open in a new window and will keep this page open so that you may come back and apply for the
other option.)
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