Pool Financing Texas

For those homeowners who don’t want to fork over all of their savings for a pool or don't have the funds available, pool financing through one of our reputable lenders is an excellent way to manage the expense of your backyard renovations.  At All Star Pools, we can help you navigate your financing options.  We work with several local banks and can help connect you to the best option for you.

Things to Consider Before Borrowing

When working with pool financing companies, the Better Business Bureau and U.S. Federal Trade Commission (FTC) recommend taking these precautions:

• Shop various lenders to secure the most competitive financing terms.
• Understand the difference between a credit line and a loan and the financing terms that come with each. Most credit lines (home equity lines included) are essentially credit cards and often carry variable interest rates that will fluctuate with the market. Take care to understand your terms up front and avoid variable rates if at all possible.
• Ask for an estimate of fees up front. Understand what the fees are for and if they are recurring.
• Ask your lender if your loan comes with a pre-payment penalty. Some loans carry heavy penalties if you pay them off within a certain time-frame. If your loan is secured by your home and you sell the house, this could take a significant portion of your proceeds. Avoid pre-payment penalties whenever possible, and never commit to one without first consulting another lender.
• Ask your lender if the loan is a balloon loan. These loans carry smaller monthly payments but then “balloon” at the end of the term, requiring you to pay a large balance in full or secure additional financing.
• Know your interest rate and make sure that it is not an introductory rate. If you have been promised a fixed rate, ensure that it is reflected in the documentation before signing.
• Ask questions and be clear of all your financing terms before signing a contract. Ask the closing agent or loan officer to go over each page with you before signing.