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I'm depressed. It looks like no pool for us. We were given the impression during our house hunting that if you had awesome credit scores, a great DTI and stable jobs financing a pool wouldn't be hard. So not true.
All the pool financing companies don't actually finance them on their own, they go through bigger banks. These banks in turn only offer you their credit cards if you can't refinance your home or don't qualify for a home equity loan.
We just bought our house so there isn't the equity in it to pull out. What do these pool companies expect you to do? Wave a wand and poof you suddenly have30K for a pool? And we are certainly not using a credit card to finance a pool! I mean, even our landscaper is willing to work with us, breaking the landscaping up into phases so that it gets done but we can pay as we go. As is stands now it will take us a couple of years to save up for the pool. I don't know if I even want it anymore. I'm so upset that honest, hardworking people like us who have been financially responsible are being treated like crap by the banks. I actually had one laugh at me. Sorry, just felt the need to vent. At least we will have a nice yard when the landscaping is done. I'll post pictures.
Very few larger purchases are made without a bank's involvement; cars, home additions, home remodels, etc. Even smaller purchases are bank oriented. Home Depot, Lowes, Walmart cards etc. are bank backed.
If you can save $30,000 in two years, you're way ahead of many people.
I'm depressed. It looks like no pool for us. We were given the impression during our house hunting that if you had awesome credit scores, a great DTI and stable jobs financing a pool wouldn't be hard. So not true.
All the pool financing companies don't actually finance them on their own, they go through bigger banks. These banks in turn only offer you their credit cards if you can't refinance your home or don't qualify for a home equity loan.
We just bought our house so there isn't the equity in it to pull out. What do these pool companies expect you to do? Wave a wand and poof you suddenly have30K for a pool? And we are certainly not using a credit card to finance a pool! I mean, even our landscaper is willing to work with us, breaking the landscaping up into phases so that it gets done but we can pay as we go. As is stands now it will take us a couple of years to save up for the pool. I don't know if I even want it anymore. I'm so upset that honest, hardworking people like us who have been financially responsible are being treated like crap by the banks. I actually had one laugh at me. Sorry, just felt the need to vent. At least we will have a nice yard when the landscaping is done. I'll post pictures.
I think it's completely unrealistic to expect any bank to finance a pool for you without something securing the loan (usually that would be your home through a HELOC or 2nd mortgage). Everything you can finance at a decent interest rate has an asset backing it, cars, houses, boats, etc.
An unsecured loan is no different than a credit card and thus commands credit card like rates.
It sounds like banks are finally getting realistic about loaning money. Regardless of your ability pay (good credit, jobs, DTI, etc.), the bank needs a recourse to get its money, that's just how it is.
You can buy those big pools from walmart. We grew up having one, it was the greatest thing. You put it up in summer and take it down in winter. All you have to do is air up the top and filler-up! Then just keep it clean. I think they are like $200 or so and ours lasted for a few years, then we ended up buying another one cause we used it so much.
It may not be an underground pool, but if you are that desperate these things are great!
This is what I am talking about:
(Ps. Don't get the kind with the poles you have to set up all around them, those are just a pain in the butt).
Better save up for it I guess. Who knows, maybe you'll have changed your mind by then, prices may have come down, ...?
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It looks like no pool for us. We were given the impression during our house hunting that if you had awesome credit scores, a great DTI and stable jobs financing a pool wouldn't be hard. So not true. 
