Start your Lyon Financial pool loan process by completing an online application. A member of the loan team and one of Lyon’s lenders will review your application. You’ll get a personalized response from a loan team member who will review all terms, conditions and work to pair you with a loan program that best works for your needs. You’ll receive a conditional approval within 24 to 48 business hours.

To qualify for financing with Lyon Financial, Lyon will evaluate your overall credit health. Typically, it looks for a debt-to-income ratio (DTI) of 60% or less, which will include the pool loan amount you are requesting. Lyon also looks at any negative blemishes on your credit report, including recent bankruptcies or liens. Lyon Financial will review your credit through a TransUnion report, however, its lenders may look to any of the other major reporting bureaus, including Equifax and Experian.

To ensure your credit does not take hit after hit, Lyon streamlines the qualification process by first running its credit check through TransUnion, then determining which of its lenders may best suit your needs. From there, that lender will run their own credit check. This is in contrast to other competitors who will run concurrent credit checks across multiple lenders, resulting in unnecessary hits to your credit score due to multiple inquiries.

Most fundings involve paying the pool builder directly in stages, according to the progress of the project. This ensures that the contractor is receiving the appropriate payments in the appropriate increments. In most cases, before each stage’s payment is released, we ask that you complete a brief electronic form to verify that the scope of work for that stage has been completed