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Your Guide to Financing a Pool

So you’ve made the decision, and you want to install a pool to accompany a gorgeous summer day at the house in the future.

You’ve probably seen the cost for in-ground pools, which can range from $10,000 to as much as $120,000, while above-ground pools can range from $2,000 to $85,000.

I hope you haven’t given up on your dream of owning a pool because there are still ways to break ground for one, even if you don’t have that type of cash lying around.

While paying in cash is usually the best option, there is another way of achieving your dream.


Financing a pool is a great way to get the pool you’ve always wanted, as well as helping improve your credit history and score. Have you been leary of financing? Have no fear because, in this article, we are going to give you the best guide for financing a pool.

How Much is your budget?

For starters, you want to pick the right pool that will fit in your budget. Above-ground pools are typically cheaper because everything can be completed above-ground, and usually, there is no excavation needed, and no pipes to are run underground.

Plan on spending more If you want an above-ground pool. As stated above, the material, installation, and construction costs can be anywhere from $10,000-$120,000. Other variables that affect the cost are the size of the pool, pool materials used — concrete, fiberglass, vinyl, and types of filtration systems used.

Before you get into financing, come up with a plan that fits your budget.

Options For Financing a Pool

There are many ways to approach swimming pool financing. These options are home equity loans, in-house financing, home equity lines of credit, cash-out financing and personal loans, and credit cards.

Let’s take a look at these loans to see which one would work best for your situation.

Home Equity Loan

A home equity loan is where you use the value of your home that’s been paid off as collateral to in exchange to borrow money. The great thing about home equity loans is that they are lower in interest compared to personal loans.

The loan is amount is based on the value of the house that has been determined by the appraiser of the lending institution.

In-house Financing

This type of financing is where the seller of the goods you are buying from offers financing to the buyer.

Some in-house pool financing departments control all of their financing processes, where others work with many different banks and credit unions to ensure the customer gets the best rates possible.

Home Equity Lines of Credit

A home equity line of credit (HELOC) is a line of credit in exchange for the value of your home. It works similar to a home equity loan, but it is more similar to the status of a credit card instead of funds through check or cash.

You will still have an interest rate and monthly payment until the line of credit is paid back.

Cash-out Refinancing

Cash-out financing is when you replace your existing home loan with a new mortgage of more than your current balance.

This allows you to withdraw the difference between the two mortgages in cash, and use it towards whatever you need the money for. Just beware, because you may pay a higher interest rate compared to any of the previous mortgage-related loans we’ve talked about.

Personal Loan

A personal loan is when you borrow money from a lender such as a bank, credit union, or other financial institution with little or no collateral. A lender requires you to pay the money owed over some time in monthly payments on with a fixed interest rate.

A personal loan is the hardest loan to get because it requires excellent credit, and good credit history if it’s not backed with any collateral.

Credit Cards

If you have a credit card with a high line of credit, you may be able to pay for part or all of the cost of the pool.

This is a great way to purchase a pool because a line of credit on a credit card is unsecured, which means you don’t have your house or any other equity as collateral.

Before you use your credit card to purchase a pool, make sure you talk to your credit card institution to see what your monthly payment will be.

It may be a good idea to use your credit card for portions of the total cost like labor or parts, and use other means of funding to pay for the rest.

Financing a Pool Doesn’t Have to be Hard

There are many benefits to having your own swimming pool in your backyard. It saves you money on city pool visits, it creates memories that last a lifetime and will increase the value to your property.

Lenders will be looking at your credit history so, our advice is if you are going to try and get financing, take a look at your credit report to ensure and make sure it is accurate and that there are no mistakes on your report.

You have the best chances of financing a pool if you keep your credit score up and are on-time with payment history. Doing this will also help get you the best interest rate and may even minimize or eliminate a down-payment for a loan.

We hope this guide has helped you in regards to which financing option best fits your needs.

If you still have any questions, feel free to contact us, and we can help you get into the pool you’ve been dreaming of.