Are You Wondering How Your Credit Score Affects Your Ability to Get a Pool Loan?
It’s your dream to look in the backyard and see the kids splashing their hearts away. And of course, there’s those lazy afternoons you’ll get to spend in quiet, poolside lounging. Let us help you make these dreams a reality! Even if you haven’t had the best credit history, you can still apply for a swimming pool loan. HFS Financial is dedicated to finding you the perfect options to bring all your home improvement visions to life.
When you apply for a swimming pool loan with HFS Financial, a good starting score is 630. Our easy application process takes about 60 seconds, and you’ll receive a call within 48 business hours from one of our highly-trained financial professionals. We’ll discuss the details of your loan options and find the right opportunity to meet your needs. Our application process is simple, fast, and completely confidential. And the best part is, there’s no hit to your credit score for applying.
Common Reasons for Denial
Sometimes loan applications don’t go the way you hoped. There are some common reasons why this happens, and most have easy fixes.
- Errors in your credit report: Inaccuracies in your credit report may show late or missed payments, which lower your credit score. Review your report, and bring up any problems with the credit bureau. This fix can quickly correct your credit score.
- Limited credit history: Sometimes you simply don’t have enough of a credit history to qualify for a loan. All this means is you need to take some time to build your credit.
- Doesn’t meet basic requirements: There are a few basic requirements to qualify for most loans — mainly age, annual income, and residency.
How to Improve Your Credit Score
Even if your score is too low right now, a swimming pool isn’t out of the question in your future. Take some time and work on your history and boost your score.
- Create a budget. Really look over your finances and try to find a debt-to-income ratio that works for your family.
- Make payments on time. Lenders can look and see that you’ve made payments successfully on time, and that can go a long way for approval. You’ll also save money by avoiding late fees.
- Don’t open too many accounts. Work on paying down your existing debt before opening new lines of credit. Too many loans make you look like a liability to lenders.
When you feel like it’s the right time for your backyard pool, HFS Financial is here and ready to help you achieve your backyard dreams. Take 60 seconds to apply. Then let our experts work their magic to find you the best loan options for all your home improvement projects. Your kids will be splashing in your very own backyard pool before you know it. You dream it, we finance it!