Do You Have A Question?

We offer a complete line of Texas mortgage loans, Texas home equity loans and Texas mortgage refinance loans for all types of borrowers with low Texas mortgage rates.

How do I get a pool loan?

You can use the equity in your home to get a pool loan using HELOCs or by simply refinancing.

Here are some pool loan basics:

1) You have to have equity in your home you can borrow from.

2) You have to have good credit determined by your credit score. Your credit score must be 680 or higher for a HELOC and 580 for an equity loan.

3) Texas only allows any homeowner to borrow 80% of the value of their home for the purpose of getting cash for something like a pool loan or a remodeling project. This includes the balance on your current mortgage. If your balance is higher than 80%, you're not eligible for any pool loan. See the example below.

Example: If you own a home that is worth 250,000.00 and your current mortgage balance is 125,000.00 you only owe 50% of the value of your home. This also means at 80% of value you have another 30% you can use for any purpose including a pool loan. (30% X 250,000.00 = 75,000.00)

Another Example: If you own a home that is worth 200,000.00 and your current balance is 185,000.00. Basically there isn't enough equity to use for a pool loan remaining. ( 200,000.00 X 80% = 160,000.00)

Apply For A Pool Loan Now

If you aren't sure, call us 281-597-9234  or e-mail us.

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