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Best Swimming Pool Loan and Financing Options

Today, pools offer many benefits, including enjoyment, relaxation, and entertainment. Pools lead to an increase in home value, thus generating a substantial return on investment. Even so, pool construction can cost you a fortune. Luckily, many pool lending companies offer homeowners several financing options. You will be able to get a swimming pool loan to finance your dream pool.

Can You Finance an Indoor Pool?

Suppose you are planning to construct an indoor pool instead of a pool in your backyard. First, it depends on the space inside your home. Second, it depends on the type of pool you desire to build. The process might be costly for you, but you can request a swimming pool loan to help you in the construction process.

Can You Finance an Aboveground Pool?

Although an inground pool is much more costly than the aboveground pool, the construction process of both is expensive. Thus, you may opt for pool financing services. Also, not every area allows for in-ground pool installation. Therefore, several homeowners opt for aboveground pools.

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Monthly installments for a swimming pool loan

The monthly installments for pool loan payments vary depending on the type of loan and financing institution. Additionally, they rely on your creditworthiness, earnings, liquid assets, and financial history. Mostly, the lower your credit score, the higher your monthly installments will be.

What Credit Score Do You Need to Finance a Pool?

Pool lenders consider a credit score of over 670 a satisfactory rating. Higher credit scores lead to low-interest rates and monthly installments. However, if you still have a lower credit score, you may still qualify for a loan; it depends on the pool lender.

How Long Can You Finance a Swimming Pool?

Most financing institutions set a loan term of approximately three to five years. But several companies can set longer loan terms, although the interest rates and monthly installments will be higher. You may end up spending much more with loans having longer times.

Estimated Cost of Building a Pool

Inground pools are usually much more expensive than aboveground pools. For instance, inground concrete and granite pools can cost up to $55000, while inground fiberglass pools can cost up to $25000. Adding on additional pool features, upgrading pool equipment, or adding additional amenities like a spa, pool deck, pergola or outdoor kitchen will all increase the overall price of the pool and should be factored.

The Best Way to Finance a Pool

The best way to finance your pool depends on different financial situations of individuals. Thus, your best financing alternative might not be the same as your neighbor’s option. However, the bottom line is to spend the minimum and obtain the maximum benefits that come with swimming pool loans.

Best Swimming Pool Financing & Loan Options – How to Finance A Pool


LightStream is a well-known financing company that assists homeowners in making their dreams a reality. The company has a favorable annual percentage rate that lies within 4.99% – 16.79%. Its loan terms lie between one to twelve years, with the maximum loan amount being $100000. Additionally, there are no fees upon approval, prepayments, and late payments. This is the best alternative for individuals with high credit scores, reliable financial histories, and who intend to use the swimming pool loan for home improvement purposes.

Lending Club:

The financing company is a good option for individuals with higher credit scores and looking for not more than $40000. Loans from the Lending Club have an APR ranging from 6.95-35.89% with loan terms between three to five years. Unlike LightStream, the company employs an origination fee of 1% to 6% depending on the amount. It implements late prepayment penalties of $15 and a processing fee of $7 for personal checks. To obtain a loan from this company, your credit score has to be more than 660. Upon approval of this loan, the loan gets processed within a short time of 3 to 7 days.

SoFi APR range:

SoFi is a reliable lending company whose APR ranges from 5.99% to 16.99% with an autopay system. The company offers a loan period that lies between 2 to 7 years. Like LightStream, the maximum loan amount granted to individuals is $100000. It has a short processing time of not more than a week, thus convenient for customers. Nonetheless, to qualify for a SoFi loan, you should have a high credit score of over 680 and earnings of at least $50000. Luckily, it does not have any additional fees upon approval; thus, it is a good option for individuals with high credit scores and low debt. It is also a good alternative if you desire a large, expensive inground pool.


One of the internet’s leading lenders, Avant, is a well-grounded financing company with an APR lying between 9.95% — 35.99%. The institution offers loan terms of approximately 2 to 5 years and a maximum of $35000. It has a short loan processing time of less than 24 hours. Loans from Avant incorporate administration fees that can go up to more than 4%. The investment is suitable for people with a slightly lower credit score of 580 and a short credit history. Therefore, it favors individuals with low credit scores. Penalties charged for late payments are flexible, and you only need an annual income of less than $20000 to qualify for the swimming pool loan.

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