Q- What can financing do for you?
a) Sell more jobs. Financing helps attract customers who previously thought they could not afford a pool.
b) Sell bigger jobs. By offering a low monthly payment rather than the total price, it will make it easier to sell bigger jobs or more options.
c) Close sales faster. Arranging financing creates a firm commitment in the customers mind and reduces the chance to shop with your competition.

Q- What is add-back?
A- Add-back is when lenders use the future value of the pool project when calculating the amount of equity in the home. This enables people with little or no equity, to still acquire the pool loan that they desire.

Q- Why not go directly to a bank?
A- Banks offering lines of credit will usually only offer a variable rate, will typically require more equity in the home, and do not add-back the value of the pool.

Q- What is the average turnaround time for the closing of a pool loan?
A- Average time to close a pool loan is 7-14 days. If the borrower responds quickly, it is not unusual for the loan to be completed in one week.

 
© 2006 MPG Mortgage, All Rights Reserved