How to Finance a Swimming Pool in 2022

Piggy with sunglasses in front of swimming pool

Swimming pool loans are a subcategory of home improvement loans. These are classified as personal loans, differentiating them from secured loans, such as home equity loans. While there are other swimming pool financing options – such as bank financing, credit union financing, and second mortgages – swimming pool loans are available from companies that specialize in financing pools and other backyard renovation or home improvement projects.

Bank loans, mortgages, credit union financing, and home equity lines of credit have some distinct disadvantages. These loans usually take weeks, sometimes months, to pay out. The process involves a home appraisal, so if your neighbor’s house sold last year for $500,000, your bank may balk at appraising your property for $350,000, even with a pool. These loans require huge amounts of paperwork, and in the end, you’re putting your home up for the loan. Additionally, banks and other mortgage lenders usually pay out in stages, called “stage funding.” This means you only get loan payouts as your pool builder completes specific stages of the project. There can be additional inspections to verify the stages have been successfully completed, further delaying your full loan payout, and by consequence, your completed pool project.

Swimming pool loans are available that do not require home appraisals or stage funding. Since these companies deal specifically with swimming pool financing and other backyard renovation or home improvement projects, these loans are typically faster to process and quicker to pay out.

How Do Swimming Pool Loans Work in 2022?

A swimming pool loan is usually classified as a personal loan. In an personal loan, such as swimming pool loans, you are not risking your home if for some reason you are unable to repay the loan.

Where Can I Find Financing for a Swimming Pool in 2022?

Banks generally work with swimming pool loans only if you have a high income and excellent credit score. Credit unions will typically work with slightly lower credit scores, but offer higher rates. Online lenders come with a variety of benefits, including more flexibility when it comes to income, credit score, the value of your home, length of home ownership, and other factors that are sometimes tripping points for bank loans.

How Much Does it Cost to Finance a Swimming Pool in 2022?

Texas Pool

Pool loans are available at industry-leading interest rates, and with a range of loan term lengths. Many other lenders cap loans at an unreasonable price point for many projects. The higher amount is ideal for more complicated pool builds, and can also include other backyard renovation projects or other home improvements you wish to complete at the same time.

As the housing market gets tighter and tighter, many homeowners are realizing the value of improving their existing homes and backyards instead of trying to buy a new home. Houses in some markets are hard to come by, and are overpriced when available. Home improvement loans and swimming pool loans are a more affordable and less risky option for those who choose to improve where they live instead of trying to move.

How Long Can You Finance a Swimming Pool in 2022?

Most pool lenders cap terms at 10 to 15 years, however, you can get a pool loan through HFS Financial with terms even longer. This gives you longer to pay on the loan, meaning that your monthly payments are significantly lower.

The average prices of inground pools vary considerably from state to state and city to city. Additionally, the worldwide supply chain issues over the past few years have affected the cost of inground swimming pools. Until you get the estimate from your pool builder, it’s hard to predict how much your pool will cost. The price depends on your pool design, your location, and your backyard. In 2022, you may be able to build a modest inground pool for less than $50,000 while a luxury pool can cost well over $100,000.

If you live in a drought-prone area, it’s comforting to know that an inground pool actually consumes less water per year than if that same area were landscaped. Pool owners don’t considerably increase their water consumption over those who maintain lawns.

What Credit Score Do I Need to Finance a Swimming Pool in 2022?

Different pool lenders require different credit scores. Typically banks and credit unions require higher scores than online lenders. HFS Financial can work with a wide range of credit scores. No matter what swimming pool financing company you choose, higher credit scores qualify for lower interest rates. 

How Do I Apply for a Swimming Pool Loan in 2022?

Applying for a pool loan is simple and fast online. Look for a lending company that can give you a pre-approval with only a soft hit on your credit report. This assures that merely checking for a loan doesn’t affect your credit. Also, try to avoid companies offering stage funding. That way you control your funding and have cash in-hand to get the project started and to pay your pool builder once your pool is complete.

Some builders partner with HFS Financial, so you can get your lending directly through your pool builder’s website. It’s a simple form to get pre-approved and get your loan process started. If your pool builder has not partnered with HFS Financial, you can apply directly on the HFS website.

The initial form takes just a few minutes to complete. Your customer service representative will reach out for any additional questions or paperwork required to process your loan. Swimming pool loans can be funded quickly. If your pool loan underwriter has additional requests, these can usually be handled quickly and efficiently online or via a phone call.

Where is a Swimming Pool Loan Cost Calculator I Can Use?

Your swimming pool loan payments and interest rates depend on a number of factors:

  • The cost of your pool
  • Your credit score
  • If you are applying for a loan for other backyard or home renovation projects
  • The terms of the loan (how long you’ll be paying on the loan)
  • Other factors dependent on your own situation


You can quickly and easily determine your pool loan rate here.

What’s the Process for Getting a Swimming Pool in 2022?

  1. Choose a pool dealer in your area.
  2. Get an estimate of the cost of the type of pool and installation you desire.
  3. Get any other estimates you need. For example, you may need additional contractors for a pool fence, landscaping, etc. Be sure to get estimates for everything involved in your backyard renovation before applying for your pool loan.
  4. Apply for your swimming pool loan.
  5. Get your loan funded and get your new pool!

HFS Financial hopes that you and your family are absolutely thrilled with your new swimming pool. We make the lending part easy, so the rest of the pool buying process is as smooth as possible. You Dream It, We Finance It.