Pergola Financing For Good and Bad Credit

What are the benefits of financing  a pergola?

Obtaining pergola financing is a personal decision that should be well researched and considered carefully. That said, there can be many benefits of financing a pergola. Here are some ways that pergola financing can benefit homeowners. 

• Add value to your home: Investing in your home can be beneficial, especially if you have plans to sell in the future. 
• Upgraded pergola design: Obtaining pergola financing can broaden your options when it comes to pergola features that you can afford. Financing a pergola rather than paying for your project in cash may mean being able to choose higher quality materials and highly sought after features such as a retractable awning or built in lighting. 
• Quick approval process: Enjoy your outdoor oasis sooner. Many lenders offer fast approval processes, enabling you to potentially start your project years sooner than if you had to save up one lump sum. 
• Reduced financial strain: Home improvement loans offer borrowers a lump sum of cash to be repaid in fixed installments over a predetermined period with interest. 

How do I apply for a pergola loan?

In today's technical world, applying for a pergola loan can be a quick online process. But first, you’ll want to choose the financing avenue that is right for you. Two popular options are retailer financing or home improvement loans (personal loans). Home improvement loans can offer a bit more flexibility, especially if you want to finance installation, painting, complimentary upgrades, and more. Here are 5 simple steps to apply for a personal loan online.

1. Go to Acorn Finance online
2. Submit some personal information
3. Compare loan offers in seconds with no credit score impact
4. Choose an offer and finish the process with the lender of choice
5. Receive funds

What is the average cost to build a pergola? 

The cost to build a pergola is dependent on many factors. Here are some things to keep in mind when considering expenses.

• Materials used: Pergolas can be constructed of metal, concrete, pvc, and wood. The cost of these materials can vary widely. Decide on the aesthetic you’re aiming for while keeping the cost of materials in mind. 
• Size: It makes sense that the size of the pergola will affect the overall cost. As your project gets larger, so will the expenses. 
• Location: Your location may affect the cost of materials. Additionally, exactly where you plan to put your pergola may be more costly if extensive grading or landscaping needs to be done first. 
• Labor costs: Building your pergola yourself would be one way to make your pergola dream more cost effective. However,  this is not a project that falls in the scope of everyone’s capabilities. There are pergola kits available to make it more DIY-friendly. 

On average, costs associated with building a pergola can range from $2,000 - $12,000 or more for large custom builds. Financing a pergola can offer the convenience of making monthly payments that split up that cost as opposed to depleting savings or simply not upgrading your outdoor space because you don’t have the funds.

Is it cheaper to build a pergola or buy one?

If you have experience in carpentry or similar home improvement projects, building a pergola could be cheaper than buying one. However, if you do not already own all of the tools necessary to complete your pergola build, DIY-ing your pergola actually may be the more expensive route. Additionally, if you are under qualified to build an outdoor structure, you could potentially face expensive repairs down the road. Hiring a professional to build your pergola ensures quality and longevity of your pergola. For many, that reassurance is priceless. 

Are pergolas a good investment? 

Pergolas can definitely be a good investment, whether you’re looking to sell in the future or not. Pergolas have the ability to add aesthetic and functional value to your home and provide more opportunities for quality family time. Think barbecues, outdoor crafts with the kids, and quiet morning coffee with the birds. Investing in an outdoor space that you can enjoy anytime you want is well worth it for those that can work it into the budget. 

What is cheaper, a pergola or a gazebo?

First, let’s discuss some of the differences between a pergola and a gazebo as the two are commonly confused. 

• Pergolas typically have an open or partially covered roof, whereas a gazebo typically offers complete sun and rain protection. Generally, they have a more minimalistic design compared to gazebos 
• Gazebos are exclusively freestanding, while pergolas can be attached to pre existing walls 

Because of the more open and airy structure, pergolas can often be cheaper to build than gazebos.

What credit score do I need to finance a pergola?

Credit score requirements can vary depending on the lender and the type of loan. Our network of lending partners specialize in home improvement loans that do not require collateral. Most of our lending partners have a credit score cutoff of 600 or above. Other factors such as income can be considered when approving a loan. Checking rates at Acorn Finance does not impact credit score, so you can find out if you qualify risk-free. 

Will a pergola increase the value of my home?

Pergolas can increase the value of your home. The return on investment for the addition of a pergola can range from 50%-80% on average. That’s more than many other outdoor home improvement projects.  Plus, a pergola can give your home the edge to stand out in a saturated market. 

Can I finance other outdoor structures or upgrades with my pergola?

Obtaining an online personal loan gives you the flexibility to finance other outdoor structures or upgrades with your pergola. Personal loans allow homeowners to access a lump sum of cash with few spending restrictions.  Therefore, if you plan to use the funds for more than one project, just be sure to borrow enough money. In addition, personal loans do not require collateral. 

Why choose Acorn Finance for pergola financing? 

Acorn Finance simplifies the process of checking home improvement loan rates. By submitting some personal information, you can unlock home improvement loan offers up to $100,000, depending on credit score. Plus, checking rates at Acorn Finance does not impact credit score. Once approved, your loan can be funded as a lump sum and deposited right to your account in most cases. Connect with our network of top national lenders through our secure platform today. Pergola financing is just a few clicks away!

See Also

• Porch Financing
• Deck Financing
• Sunroom Financing
• Screen Porch Financing