Lightstream Vs Lyon Financial

[Watershow]

Hello,
Wondering if you know who has better pool financing rates Lightstream or Lyon? I got approved for Lightstream. Is it worth another hard inquiry from Lyon? Don’t really want another hard pull if Lightstream is the best I can do. Although, LS says they will lower it if another competitor offers a lower rate.

 

[Newdude]

I used lightstream about 8 years ago. I’ve heard recently that they are on the expensive side, but all of those loans may be, not just them. Let them fight it out all day. They will be making a good chunk of money off you, (in the thousands) Make them earn it.

 

[TFPNoobie]

Hello,
Wondering if you know who has better pool financing rates Lightstream or Lyon? I got approved for Lightstream. Is it worth another hard inquiry from Lyon? Don’t really want another hard pull if Lightstream is the best I can do. Although, LS says they will lower it if another competitor offers a lower rate.

How did you ever make out with this? I have to start thinking about financing soon and I'm considering these two as well. Thanks

 

[PoolGate]

I also got Lightstream, and in retrospect, I wish I had just gotten a home equity loan. Lightstream makes unsecured loans so the interest is not deductible on taxes. Their rates were ok but not great. An equity loan would have been 1/2 as much. Take the time to do the equity loan. You'll save thousands over the life of the loan.

 

[TFPNoobie]

I also got Lightstream, and in retrospect, I wish I had just gotten a home equity loan. Lightstream makes unsecured loans so the interest is not deductible on taxes. Their rates were ok but not great. An equity loan would have been 1/2 as much. Take the time to do the equity loan. You'll save thousands over the life of the loan.

The only problem with a Home Equity loan is that they require you to have at least 20% equity. We just purchased our home so we are right at 20% equity now. Doubt they'll fund enough over that to cover the cost of a pool install. But I agree with you, if you have the equity, that makes more sense IMO.

 

[PoolGate]

The only problem with a Home Equity loan is that they require you to have at least 20% equity. We just purchased our home so we are right at 20% equity now. Doubt they'll fund enough over that to cover the cost of a pool install. But I agree with you, if you have the equity, that makes more sense IMO.

A lot depends on the lender. Many want to see 80% LTV for a HELOC but have difference terms for home equity loans.