Swimming Pool Financing Options [Aboveground & Built In]

There is no single best way to finance a swimming pool. Each family has unique qualifications, and natatoriums come in a variety of shapes and sizes.

People seeking to buy aboveground pools have more choices due to the lower price points. Borrowers with poor credit can turn to online lenders, or find no credit check programs such as rent to own and buy now pay later arrangements.

Homeowners wishing to install in-ground pools are most concerned with how long they can extend financing. In this case, secured mortgages and home equity loans offer the most extended terms.

Above-Ground Pool Financing

Aboveground swimming pool financing options are more abundant because of the lower principal amount requirements. Borrowing less money translates into smaller monthly payment plans that are more affordable.

Aboveground pools have lower purchase and installation price points depending on the size, shape, materials, and staging area requirements.[1] Therefore, you need to borrow less money making it easier for more homeowners to qualify.

Purchase Price$600$3,000
Installation Charges$1,000$3,000

No Equity

Request a personal loan here
(Sponsored Link) to finance your aboveground pool purchase and installation if you have no equity in your home. Get an estimate of the total expected charges from a qualified contractor to ensure that you ask for the correct amount upfront. Remember, lenders are more likely to approve loans with affordable monthly payment plans.

  • Keep the principal amount as small as possible
  • Demonstrate verifiable employment and sufficient income
  • Longer repayment terms have the lowest monthly payment
  • Have your checking account handy to facilitate a quick deposit

Personal loans are unsecured. Therefore, you do not need to have equity in a boat, home, or car to qualify. The no-equity option appeals to first-time homeowners, renters, and people who recently ran a cash-out refinance.

Poor Credit

Financing an aboveground swimming pool with poor credit presents extra challenges. The minimum credit score required by many lenders hovers around 650 but could be higher or lower depending on your employment history, debt-to-income ratio, and other factors.

Poor credit borrowers can look into online lenders, rental companies, law away programs, and an adjunct to health insurance.

Online Lenders

Online lenders specialize in working with consumers with less-than-perfect borrowing credentials. Brick and mortar banks and credit unions target people with better qualifications. Online companies step in to fill the gap.

Online lead consolidators (the affiliate partner associated with this website) capture consumer-borrowing credentials and present them to a vast network of possible lenders. Volume from a single form submission is a viable strategy to overcome weak qualifications.

Party Rentals

People with bad credit can consider renting portable swimming pools for parties and other short-term uses. The qualifications to rent a portable or inflatable unit are often much more comfortable to meet. Also, the financial commitment is much smaller.

Remember, taking a dip to cool off in the water on a hot day is a luxury and not a necessity. Taking on unnecessary expenses is not a good idea if you are already struggling to make on-time payments to other creditors. Renting may be safe middle ground.

Health Insurance

It is unlikely that your private health insurance or Medicare will pay for an above-ground pool. However, the IRS may provide a tax break if your doctor prescribes water workouts to alleviate a medical condition, and other family members do not use it for recreation.[2]

If used for medical reasons, people with bad credit may be able to finance the purchase and installation using a Flexible Spending Account (FSA). FSA rules permit specific home improvements with a medical necessity. Schedule the expense at the beginning of your FSA plan year and repay your employer over the next 52 weeks using pre-tax payroll deductions.

No Credit Check

People have a variety of options to finance an above-ground swimming pool without a credit check. Some finance companies evaluate applicants without pulling a consumer report from one of the big-three bureaus (Equifax, Experian, TransUnion) or looking at a traditional score from FICO or Vantage.

Instead, the companies use alternative bureaus and non-traditional scores. These no credit check lenders appeal to several groups of people willing a pay slightly higher finance charges.

Rent to Own

Rent-to-own swimming pools are an in-house financing alternative without a credit check. Many budget retailers offer short-term leases for many products – including heaters, liners, filters, and cleaning equipment – even hot tubs as well.

You make a small monthly rental payment each month. At the end of the lease period, you can return the equipment. This option works well for a family that wants to cool off in the water and have fun for a single summer season.

The rent-to-own contract also provides an opportunity to apply the lease payments towards a purchase.  However, you could wind up paying 5% to 10% over the cash price for a 90-day contract. The annualized finance charges are very high (20% to 40%).

Buy Now Pay Later

Buy now pay later above ground pools are popular in-house financing offerings at low-end retail outlets that may not involve a credit check. The retailers with this type of program often agree to bill a third-party credit card in up to six monthly installments. The charges may include the merchandise, delivery fees, and legal fees if applicable.

These buy now pay later or law away schemes often contain a catch. The retailer wants to make sure it can bill the entire amount each period. However, the credit card account may not have sufficient “open to buy” in month five or six. Open to buy is the difference between the account limit and the current balance.

Therefore, the retailer may place a hold on your account for the total purchase amount to protect themselves. A credit hold prevents you from charging too many other purchases and shrinking the open to buy below the size of the sticker price plus delivery charges.

In-Ground (Built-In) Pool Loans

In-ground swimming pool loans are the primary method to finance this far more expensive construction project. Borrowing more significant sums means many families need longer repayment terms to keep the monthly payment plan affordable. Built-in pool costs range from $20,000 to $80,000 before adding in extras like landscaping, heaters, solar covers, slides, specialized lighting, pumps, vacuums, skimmers, etc.

How Long

A range of factors determines how long you can finance an in-ground pool. Longer terms pose higher risks to lenders. Therefore, your qualifications and the type of loan you choose determine the maximum number of years you have to repay the note.

  • Borrowers with top-notch credit scores, stable employment history, and sufficient income qualify for the most extended terms
  • Loans secured by the equity in your real estate property qualify for more extended repayment periods than unsecured contracts backed only by your signature promise to pay

Remember, the longer the repayment period is, the lower the principal only monthly payment will be. At the same time, longer terms give interest more time to accumulate. Compare the installment amount to the total interest charges for five different lengths on a 5% annual rate for a $50,000 loan.

LengthMonthly PaymentTotal Charges
5 Year$943$6,614
10 Year$530$13,639
15 Year$395$21,171
20 Year$330$29,194
30 Year$268$46,627

Into Mortgage

Financing in-ground pool construction costs into a mortgage is one of three options secured by the equity in your home. Contact a local mortgage banker to discuss the loan-to-value (LTV) ratio limits the lender will accept. In general, banks consider an ending LTV of 80% or lower as a good starting point.

  • Cash-out refinancing of an existing mortgage can spread payments out over 30 years or less
  • Home equity loans act as a second mortgage and can last from 5 to 30 years
  • Home equity line of credit is a revolving account allowing 10 years to withdraw funds and 20 years to repay

Include With Construction

Construction loans are a final (and sometimes safer) way to finance an in-ground pool in your backyard. Construction lenders own the collateral (property, dwelling, improvements) until the borrower retires the debt.

Therefore, construction loans offer the expertise of lenders who take steps to protect their investment from contractors who sometimes fail to deliver. Of course, that will never happen to you, right. Expect the lender to disperse funds only at the completion and inspection of specific steps in the process.

  • Permits and engineering plans
  • Excavation of dirt, rocks, and debris
  • Plumbing, electrical, and gas set up
  • Structural steel reinforcements
  • Pouring of concrete
  • Placement of waterline tile and coping
  • The building of safety barrier fencing
  • Completion of decking surfaces
  • Final inspection by city or town
  • Surface finishing and acid washing


[1] Purchase and Installation Costs

[2] Medical Expense Tax Deduction