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Can you finance a pool with a USDA loan?

August 26th, 2021 by Sean Stephens

Can you finance a pool with a USDA loan?

When it comes to USDA loan swimming pool guidelines there is still the myth that USDA loans will not finance a home that has an in-ground swimming pool – but that is simply not true!

In today’s video, I will separate fact from fiction by comparing and contrasting previous outdated USDA loan swimming pool financing requirements with today’s modernized USDA loan swimming pool guidelines.

However, before we dive into USDA loan rules and regulations for in-ground pools don’t forget to download our USDA blueprint for success with the link below. This exclusive free guide breaks down the USDA loan process step by step and is a great educational resource for the home buying process!

Click here to download our USDA Blueprint for Success!

Can you finance a pool with a USDA loan?

While this may just be a reminder to some, I still come across both Realtors and lenders who think that USDA home loan restrictions will not allow homes with in-ground pools.

Today’s video will provide the important facts that buyers, sellers, and their Realtors need to know when dealing with your next USDA loan that involves an in-ground swimming pool.Can you finance a pool with a USDA loan in Florida?

As a reminder, prior to 12/1/14, properties that had in-ground swimming pools were not considered within USDA’s modest housing definition.

Now, even though that was the case, one myth that existed was that USDA loans would not finance homes with in-ground pools, but this was simply not true. Although financing was still available, there would be no value credited to the pool which was challenging to say the least!

As you can imagine, this previous USDA loan requirement created confusion among appraisers, Realtors, and homebuyers.

However, thankfully that is all a thing of the past, because effective way back on 12/1/14 under the new USDA 3555 handbook, guidelines for homes with in-ground swimming pools have been updated to now simply state:  “The agency may approve dwellings with in-ground swimming pools”

Three Easy Tips to Remember about USDA loan swimming pool guidelines:

  1. USDA loans will allow homes with in-ground swimming pools
  2. This has brought the program into line with FHA, VA, & Conventional appraisals
  3. Business as usual for eligible properties with in-ground swimming pools!

Make sure to share the good news with any listing agents or sellers when your next offer involves USDA loan financing with a home that has an in-ground swimming pool.

As always, please feel free to reach out to my team of USDA home loan experts with any USDA property eligibility questions.

Can you finance a pool with a USDA loan in FL, TN, TX, or AL?

As a reminder, not all lenders have experience with processing and closing USDA loans. Our dedicated team of loan professionals is here to answer questions and provide solutions regarding the USDA home loan program.

As an approved USDA lender, Metroplex Mortgage Services is known for our program expertise and having specific systems in place to process USDA home loans from pre-qualification to closing.

800-806-9836 Ext. 280
SeanS@MPLX.org

Just call or email if you have any USDA loan qualifying questions, want to discuss a new scenario, or would just like to take advantage of our free 2nd opinion service which is great for those existing USDA loan transactions.

I want everyone to make it a great day and look forward to seeing you right here for the next tip of the week!

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