Planning to add a swimming pool to your home is exciting, but it also comes with some serious costs. For most homeowners, covering the full amount upfront isn’t always realistic. That’s where choosing the right pool financing option comes in. It allows you to move forward with your pool project while keeping your finances manageable.
In this blog, we’ll break down the most common ways to finance a pool, explain what factors you should keep in mind when applying for a loan, and help you find a plan that works well for your goals and budget.
Why Financing a Pool Might Be the Smart Move
Getting a swimming pool installed is a great way to improve your outdoor area, but the total cost can be a lot to manage all at once. Instead of waiting or stretching your budget thin, financing helps by turning that large expense into smaller monthly payments, as they are easier to handle. With the right pool financing option, you can start your pool project sooner without having to compromise on quality.
Financing also makes it easier to include useful upgrades like water features, lighting, or energy-saving systems. These extras not only make your pool more enjoyable, but they also improve its long-term value and functionality.
Your Main Pool Financing Options Explained
Personal Loans
Personal loans are unsecured, meaning you don’t need to offer your home or property as collateral. Lenders base approval on your credit profile and income.
These loans are best for smaller projects or for homeowners who don’t want to tie financing to their home’s equity. You’ll benefit from fast approval and fixed monthly payments, though the interest rate may be higher if your credit score is low.
Home Equity Loans
A home equity loan enables the borrower to access funds by tapping into the equity you’ve built in their property over time. It’s often a preferred option for financing larger-scale or more customized pool projects because of its potential for longer repayment periods and lower interest rates compared to unsecured loans.
However, because this type of loan is secured by your home, it’s essential to stay on top of your payments. Falling behind could put your property at risk, making it important to carefully assess your ability to commit to the loan terms.
Home Equity Line of Credit (HELOC)
A home equity line of credit, or HELOC, allows you to borrow money against your home’s value as needed rather than receiving a lump sum upfront. This setup can be especially helpful for pool projects that are completed in stages, giving you the flexibility to access funds during each phase of construction.
It’s important to know that most HELOCs come with variable interest rates. This means your payments could change month to month, depending on market conditions — so budgeting ahead is key.
Financing Through Your Pool Contractor
Some pool contractors work directly with financing companies to provide streamlined lending options for their clients. This can be especially helpful if you’re looking to bundle your financing and construction services under one roof. These partnerships often come with perks such as quick approvals or limited-time promotions like deferred interest.
However, it’s still important to carefully review the loan terms, including rates and repayment conditions, and compare them with offers from banks, credit unions, or online lenders to make sure you’re getting the best deal.
What to Think About Before Choosing a Financing Option
Before applying for a loan, make sure you understand your full financial picture and how the loan terms will affect your monthly budget.
- Review your credit score — the better your score, the more favorable your interest rate.
- Know how much you need to borrow and how long you’d like to take to pay it off.
- Compare APRs, not just interest rates, to account for all fees.
- Ask about flexibility: Can you pay the loan off early? What happens if your payment is late?
It’s also a good idea to gather a detailed estimate from your contractor. This helps you avoid borrowing too little or overextending your loan.
Typical Pool Financing Amounts in Mesa
Pool installations in Mesa usually cost anywhere between $30,000 and $85,000, depending on the materials, size, and additional features. High-end projects — like those with custom spas or luxury lighting — can exceed that range.
Getting an accurate estimate from your pool builder is the first step. Lenders will often want to see the project quote before finalizing your loan approval.
Step-by-Step Guide to Applying for Pool Financing
- Check your credit report. Make sure it’s accurate and correct any issues.
- Decide how much you want to borrow. Factor in taxes, permits, and upgrades.
- Research lenders. Compare banks, credit unions, and financing options from your pool builder.
- Submit your application. Include income documentation and the contractor’s quote.
- Choose the best loan offer. Look beyond rates — consider fees, terms, and flexibility.
- Schedule disbursements. Align funding with your builder’s construction timeline.
How Apricity Pools Helps Homeowners Secure the Right Financing
At Apricity Pools, we make it easier for our clients to move forward with confidence. We partner with top lenders to provide flexible pool financing options tailored for Mesa homeowners.
We support you with the following:
- Accurate project quotes to include in your loan application
- Help navigating the application process
- Lender comparisons so you can choose the best plan
- Coordination of loan disbursements to match your project milestones
Our goal is to make sure your financing experience is just as smooth as your pool installation.
Other Ways to Finance a Pool Project
If traditional loans aren’t the right fit, consider these alternatives:
- Cash-Out Refinance: Use your home’s equity to fund your pool by refinancing your mortgage.
- Credit Union Financing: These often offer better rates and terms than large banks.
- Split Method: Pay part in cash and finance the rest to reduce your overall loan size.
- Government Programs: Some energy-efficient upgrades may qualify for home improvement loans.
- Credit Cards: These can be useful for small upgrades but not ideal for full builds due to high interest.
Frequently Asked Questions
What credit score is needed to qualify for pool financing?
To qualify for most pool loans, you’ll typically need a credit score of around 660 or higher, depending on the lender’s requirements.
Can I include landscaping or outdoor kitchens in the pool financing plan?
Yes. Many lenders allow you to bundle related home improvement projects into a single pool loan.
Is it better to finance pool construction through my builder or bank?
Builder financing can be convenient, but bank loans may offer better interest rates. It’s best to compare both before deciding.
How fast can I get approved for financing for my pool construction?
Personal loans can be approved within a day or two. Home equity loans and HELOCs typically take 1–3 weeks.
Can I pay off the loan for pool financing early?
Most loans allow early repayment but always ask about prepayment penalties before signing.
