6 Best Pool Loans of 2022

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Private outdoor spaces have grown in popularity, even more so with the rise of remote work, and a pool is a must-have item for many homeowners. Pool prices range from a few thousand dollars to over $100,000, which means you may need to get a loan. The primary financing choices for establishing a new pool are personal loans, home equity lines of credit (HELOC), and cash-out refinancing mortgages.

We analyzed different pool loan lenders to assist you in finding the best personal pool loan lender for your needs. We selected the best pool loans based on their loan offering, interest rates, and repayment conditions.

Best Pool Loans


Top Pool Loans: Rates, Fees, & Terms

Best Overall Pool Loan
Upgrade Personal Loans for Pools
On Upgrade's Secure Website
  • Est. APR
    5.94% - 35.97%
  • Min. Credit Score
  • Learn More
  • Loan Details

Upgrade is an online lender that offers customers with a credit score of at least 560 quick approvals on fixed-rate personal loans of up to $50,000. Upgrade does not impose application or prepayment fees, but all loans contain an origination fee ranging from 2.9 percent to 8 percent, which is deducted from your loan proceeds and put into your APR.

To qualify for a personal pool loan from Upgrade, you must first fill out a one-page form to obtain rates and select any alternatives you prequalify for. If you prequalify, the interest rate you are offered will be based on your credit score, credit usage, and history.

>> More: Upgrade Personal Loans Review

Best Pool Loans for Flexible Qualification Requirements
Upstart Personal Loans for Pools
On Upstart's Secure Website
  • Est. APR
    5.94% - 35.97%
  • Min. Credit Score
  • Learn More
  • Loan Details

Upstart is a lending platform that offers personal loans ranging from $1,000 to $50,0005 from various lending partners. Upstart claims to be distinct from others in that its evaluation procedure considers your education, major, and career history, in addition to your credit score and credit history.

Personal loans ranging from $1,000 to $50,000 are available from upstart lenders, with fixed interest rates and repayment lengths of three or five years4. Upstart loans can be utilized for various purposes, including debt consolidation, relocation, weddings, and medical costs.

Upstart employs machine learning to “price credit,” allowing you to get a reduced rate if your education and work experience show potential that your credit score does not reflect. You may still be eligible for Upstart if you have “thin credit,” which means there isn’t enough information about you to produce a credit score.

>> More: Upstart Personal Loans Review

Best Pool Loan for Low Rates + Low Fees
LightStream Personal Loans for Pools
On LightStream's Secure Website
  • Est. APR
    4.49% - 20.49%
  • Min. Credit Score
  • Learn More
  • Loan Details

LightStream is SunTrust’s online lending arm. LightStream specializes in loans for customers with good to excellent credit, usually 670 or higher, and extended credit history.

LightStream only takes applications online and has no prequalification mechanism. The only way to learn if you’re approved and what rates you’ll get is to apply fully.

If approved, you could get your money the same day you apply, depending on how quickly your loan is processed. A personal pool loan’s term might range from three to twelve years.

Unlike other lenders, LightStream’s loan agreement emphasizes that the money you borrow must be utilized for the indicated reason; therefore, you can only use your loan for your pool installation.

>> More: LightStream Personal Loans Review

Best Pool Loan for Online Experience
SoFi Personal Loans for Pool Expenses
On SoFi's Secure Website
  • Est. APR
    4.99% - 19.53%
  • Min. Credit Score
  • Learn More
  • Loan Details

SoFi is an online lending platform that provides unsecured, fixed-rate pool loans in all states except Mississippi. Since its inception in 2011, SoFi has made more than $50 billion in loans. It distinguishes itself by accepting large loan amounts and providing prolonged loan terms. Loans range from $5,000 to $100,000, making SoFi a fantastic choice for folks with good credit who need to borrow a significant sum of money for their pool. Loan amounts vary by state.

Repayment durations span from two to seven years, making SoFi an extremely flexible alternative for people with adequate credit (minimum 680) and annual income (at least $45,000). SoFi also allows prospective borrowers to submit joint applications, while co-signers are not permitted.

Borrowers who are approved are rewarded with reduced APRs. Furthermore, SoFi does not charge origination costs, late fees, or prepayment penalties—a notable feature given that personal loan providers frequently charge origination or late payment fees as a minimum.

>> More: SoFi Personal Loans Review

Best Peer-to-Peer Pool Loans
LendingClub Personal Loans for Pools
On LendingClub's Secure Website
  • Est. APR
    7.04% to 35.89%
  • Min. Credit Score
  • Learn More
  • Loan Details

LendingClub was launched in 2007 as a peer-to-peer — or marketplace — lender. With LendingClub, you may be able to qualify for a loan even if your credit score is slightly below average, as your personal loan application might include a co-signer. This boosts your chances of obtaining a loan and negotiating a favorable interest rate.

While LendingClub charges high annual percentage rates and does not offer an autopay discount, applicants can borrow up to $1,000. As a result, you will avoid borrowing more than you need – and paying interest on it. LendingClub’s loan terms are limited to three or five years, which is less flexible than the loan terms offered by the other lenders on our list. Additionally, borrowers are charged an origination fee ranging from 2% to 6% of the loan amount, which is deducted from the loan proceeds at financing.

Interest rates range from 7.04 percent to 35.89 percent, and checking your rate and loan eligibility will not affect your credit score. If approved, disbursement of your loan may take three days or longer.

>> More: LendingClub Personal Loans Review

Best Bad Credit Pool Loans
Avant Personal Loans for Pools
On Avant's Secure Website
  • Est. APR
    9.95% - 35.99%
  • Min. Credit Score
  • Learn More
  • Loan Details

Avant is a consumer lending platform that connects consumers with third-party banks that offer unsecured personal loans (WebBank). In Washington, D.C., and all states except Hawaii, Louisiana, Nevada, and South Carolina, pool loans are accessible. The platform caters to middle-income borrowers with acceptable credit, with a minimum credit score of 580 required to qualify.

Although the maximum loan amount is limited compared to other lenders, the low minimum loan amount and flexible payback terms (two to five years) make this a viable alternative for borrowers. However, as with many subprime loans, Avant personal loans come with a cost.

Avant charges an administrative fee of up to 4.75 percent of the loan amount in addition to a high APR for applicants with a good to exceptional credit score—and there is no autopay discount. Nonetheless, the site is highly recommended for borrowers with less-than-perfect credit who require immediate access to funds.

>> More: Avant Personal Loans Review

How to Compare the Best Pool Loan Lenders

#1. Pool Loan Rates

The loan APR comprises the interest rate and any fees charged by the lender. It’s a more comprehensive assessment of the loan’s cost than just the interest rate, therefore compare APRs while searching for pool loans.

Personal pool loan interest rates typically range from 2% to 35% or higher, with the most attractive rates held for the most qualified (excellent credit and debt ratio) candidates. Before applying and undertaking a hard credit inquiry, prequalify with lenders to discover what rate you’re likely to qualify for.

>> More: See the Best Personal Loans

#2. Fees 

When comparing the best pool loan lenders, you must compare lenders’ fees and prepayment penalties. Many personal loan lenders charge an origination fee that can range from 1% to 8% of the loan amount or more, and it can be deducted from the funds you receive or added to your balance.

Some other lenders may charge you a prepayment penalty for Paying up your loan early. In addition, if you fall behind on payments, you may be charged a late fee. You could look at no-fee lenders, but remember to compare APRs to see whether they are a viable option.

#3. Funding Times 

If you require funds immediately, compare loan choices based on each lender’s average financing time. While some provide same-day funding, most provide next-day disbursements, and some take several days to process. Keep in mind that the time it takes to receive funds can vary depending on your financial institution.

For example, pool loan lender LightStream offers same-day funding while others like SoFi and Upstart offer next business day funding. More importantly, before applying for a personal pool loan, you should consider asking the lender for a specific funding timeline and see if it matches your pool project timeline.

#4. Online Experience and Customer Support 

Thanks to online loan lending, potential borrowers can now apply for pool loans, get pre-approved, and track their loan application process online. In our above list of best pool loan lenders, the majority of the pool lenders offered an online lending process. When comparing pool loan lenders, it is essential to consider the level of online experience offered by the lender.

In addition, when comparing pool loan lenders, factoring in the quality of customer support offered by the lender is critical. Find out if the lender offers 24/7 customer support, online support, and other forms of support. Remember personal pool loan process can be complex, and you would need to be in constant communication with your lender.

#5. Minimum Requirements 

Lenders want to know that you can repay the loan to lower their risk. They’ll look at your credit score, income, and previous debt payments, as well as the loan amount. You should also inquire about the credit score required to finance a pool and whether they offer bad credit pool loans. Furthermore, because minimum qualifying standards differ per personal pool loan lender, it’s critical to pick one that will approve your application.

What Credit Score Is Needed for a Pool Loan?

The credit standards for pool financing vary by lender and personal loan type. Scores as low as 600 to 680 may be required. A credit score of 720 or better may be required if you wish to finance a pool using a home equity line of credit or home equity loan.

Some lenders have less stringent credit standards, so even if you have a bad credit score, you may acquire pool financing. On the other hand, a lower score means you’ll pay more for your loan due to a higher interest rate.

Where to Get a Pool Loan

Rates, terms, and features of loans vary by lender, so it’s a good idea to shop around. When looking to get a loan for your home pool, your current financial situation should determine the best place to get a personal pool loan.

Online Lenders

Online loan providers offer many products as traditional lenders, such as mortgage loans, personal loans, and credit cards, but they don’t have physical locations and do all or most of the pool lending process online.

They’re also distinguished from their brick-and-mortar rivals by their propensity to specialize. While banks, credit unions, and other traditional lenders often offer various products such as mortgages, auto loans, student loans, personal loans, and credit cards, many internet lenders specialize in just one of these categories. They may even specialize in lending to a specific sort of borrower or for a specific purpose.

If you’re looking for a pool loan, an online lender may be able to offer you better conditions than you’d be able to get from a traditional lender. However, before you begin your search, please familiarize yourself with how they work and what to expect.

For example, online pool loan lender SoFi provides up to $100,000 home repair loans that can be paid back over two to seven years. Borrowers with decent to exceptional credit can turn to this lender because there are no costs associated with their loans (690 or higher on the FICO scale).


To get a personal loan from a bank, you’ll almost certainly need decent credit. It also helps if you already have a bank account.

Existing clients may be eligible for cheaper interest rates, more significant loan amounts, and an online loan application. New customers may need to go to a bank location to finish the procedure.

For example, for military families, USAA is a financial services organization that offers personal loans of up to $20,000 for a wide range of purposes, including swimming pools. Low rates and longer payback terms are available to borrowers with good credit. However, new customers must visit a USAA branch to apply for a loan.

Credit Unions 

Credit unions are fantastic sites for borrowers with fair or bad credit to receive a personal pool loan since they may have milder restrictions and lower interest rates. To apply for a personal pool loan, you must first become a member, which usually costs a nominal charge.

Credit unions are also a fantastic alternative if you require a small personal loan of less than $1,000. For example, home upgrades such as swimming pools can be funded with personal loans from Navy Federal Credit Union up to $50,000 with repayment periods of 60 months. Military personnel and their families are the only ones allowed to join.

Do Banks Offer Pool Loans? 

Banks, credit unions, and other financial institutions offer personal pool loans and are occasionally referred to as “pool loans.” Once accepted, you’ll get a lump sum payment to cover the cost of your swimming pool.

Is Financing a Pool a Good Idea? 

Financing a pool makes sense if you qualify for a loan and can afford the monthly payments. Bear in mind that while swimming pools are excellent for personal enjoyment, they are not necessarily the best investment. This is especially true if you’re using your home’s equity to fund the pool — whether through a cash-out refinance, home equity loan, or home equity line of credit.

Summary: Best Pool Loans

Bottom Line: Best Pool Loans

To find the best pool loans, we compared over a dozen personal loans, home equity, and home equity line of credit providers, weighing in on aspects such as fees, interest rates, customer service ratings, and loan amounts.

The pool loans on our list have cheap costs, a quick online application process, and affordable interest rates and repayment terms. Additionally, they offered a variety of loan amounts, loans to individuals with both excellent and bad credit, and swiftly disbursed funds.

If you decide to take out a personal loan to pay for your swimming pool, be sure to shop around for the best deal.

Keep Comparing:


To select the best pool loans, we reviewed 25+ lenders that offer online and in-person experiences. Analysts value lenders who are transparent and clearly articulate pool loan amounts, requirements, and terms. Read our editorial guidelines and rating methodologies for personal loans to learn more about the integrity, transparency, and honesty of our reviews.


Elijah Bishop
Elijah Bishop

Elijah A. Bishop is a Senior Personal Finance Writer who has been writing about real estate and mortgages for years. He has a Bachelors of Arts Degree in Creative writing from Georgia State University and has also attended the Climer School of Real Estate. He also holds a realtor license and has been in and out of the US mortgage industry as a loan officer. Bringing over 15 years of experience, Elijah produces content that analyzes ethnicities, race, and financial well-being. His areas of expertise are mortgages, real estate, and personal loans.