Installing a pool in your backyard can cost anywhere from $30,000 to over $100,000 depending on the type, size, and various features you choose. With such a high upfront cost, most homeowners opt to finance their pool project rather than pay cash. But how long are pool loans typically?
The loan term, or length of time you have to pay back the loan, can vary quite a bit depending on the type of financing you use. Generally, pool financing terms can range anywhere from 2 to 30 years.
Factors That Affect Pool Loan Lengths
Several key factors determine how long your pool loan could last:
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Type of loan – The loan type such as a personal loan home equity loan, or dealer financing, affects the available terms.
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Loan amount – The total amount borrowed impacts the length of time needed to repay it Larger loans often have longer terms
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Your credit – Your credit score and history influence the loan terms lenders will approve you for. Better credit means more options.
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Monthly payment – Opting for a lower monthly payment typically means taking a longer term to repay the loan
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Early payoff – Most loans let you pay more each month or pay off the balance early to reduce the length.
Pool Financing Options and Typical Terms
Here are some common ways to finance a pool project and the loan duration you can expect with each:
Personal Loans
- Term length: 2 to 7 years
- Overview: Unsecured loans based on creditworthiness. Offer fixed rates and terms. One of the most popular pool financing options.
Home Equity Loans
- Term length: 10 to 20 years
- Overview: Secured loans using home equity as collateral. Come with fixed rates and terms.
HELOCs
- Term length: 10 years (20-year repayment period)
- Overview: Revolving home equity lines of credit with variable rates. Flexible borrowing up to 10 years.
Dealer Financing
- Term length: Varies by lender
- Overview: Financing offered directly through the pool dealer. Usually higher rates but flexible terms.
Cash-Out Mortgage Refinancing
- Term length: 15 to 30 years
- Overview: Refinancing your mortgage and taking cash out to cover pool costs. Length depends on mortgage term.
As you can see, pool loan terms can vary quite a bit. Shorter 2 to 7 year loans are better if you plan to move before fully paying off the pool. But longer 10 to 30 year terms spread out payments over time, making the project more affordable.
How to Choose the Right Pool Loan Duration
When deciding how long of a repayment term you need for pool financing, consider these factors:
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Your budget – Make sure you can comfortably afford the monthly payments. Don’t overextend your finances.
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How long you plan to stay – If moving soon, shorter terms are best to avoid paying off a pool for the next owners.
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Interest rate tradeoffs – Longer terms usually mean higher total interest paid but lower monthly payments.
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Early repayment – Many lenders don’t penalize prepaying, so you can pay off faster if able.
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Amortization – Understand how much of your payment goes to interest vs principal over time.
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Total costs – Crunching the numbers will give you the full picture of costs.
Tips for Getting the Best Pool Loan Term
Follow these tips when financing your pool project to score the perfect loan term length:
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Shop around with multiple lenders to compare term options. Rates and terms vary.
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Look for flexible term lengths so you can customize repayment.
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Improve your credit score to qualify for better interest rates and terms.
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Ask about early payoff policies so you can repay faster if desired.
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See if you can lock in a low promotional intro rate if taking a longer term.
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Avoid extremely long 30-year terms unless necessary to get affordable payments.
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Read the fine print! Understand all policies, fees, and other loan details.
The Bottom Line
When looking into financing your dream pool, carefully consider term length options based on your financial situation. Typically pool loans can range from 2 years up to 30 years, with secured loans having the longest terms. Shop multiple lenders to find the most competitive rates, flexible repayment options, and a term length tailored to your needs. This ensures you get the perfect pool loan to make your backyard oasis a reality.
How a pool loan calculator helps evaluate budget and financing options
While financing a pool is common across America, the process and various programs may be new for many individuals shopping for a pool. From credit cards to home-equity loans, there are several forms of credit to understand and evaluate as possible choices for buying a pool.
In fact, Consumer Reports suggests that understanding your financing options for a project is a key part of the decision-making process—just like making selections for materials and design elements.
Much like a house or car payment—one way to determine how much to put toward a swimming pool is to consider the monthly payment. In other words, evaluate how much of your household budget you can reasonably afford each month.
With the basic financial information you enter, this handy loan calculator makes it easy to run the numbers— projecting how much a monthly pool loan payment will be.
Begin with a general idea of what an inground, concrete (gunite/shotcrete) pool costs in your local area, and enter the amount you are considering for the project.
Then, try out different loan scenarios. You can change the pool price/loan amount, the number of payments, the interest rate, or a combination of all three. For example, start with a loan amount of $59,749 for a 15-year loan (240 months) at an interest rate of 5.99%, and your monthly payment would be $427.72
Understanding various pool loans and securing the best one for you—based on your credit history and other variables—can require some research and effort.
You can tackle this on your own. Various possible sources for a pool loan are available to seek. Another route is to get help. It’s simple enough by contacting swimming pool builders in your area. Call and ask if they offer financing-related services and support in securing a pool loan (oac).
Depending on the state where you live, the national Blue Haven financing specialist can help locate a lender and facilitate the loan-approval process with the financial institution. You can contact your local Blue Haven team, or, get started by applying online here for a free credit review.
Estimate your monthly payment for a swimming pool loan
Financing is one way to fund a new swimming pool. When investing in an outdoor addition like a pool, hundreds of thousands of homeowners have successfully used lenders to pay for their project.
The key reason for the popularity of borrowing funds: While a beautiful backyard resort will enhance a home and provide years of healthy family fun and entertainment, it does indeed require a sizeable investment of thousands of dollars.
To evaluate various budget scenarios for financing your new pool, use this free pool loan calculator.*
| Loan Amount |
| # of Monthly Payments (Maximum of 180 months) |
| Interest Rate |
| Monthly Payment |
*This pool loan calculator is a free estimating tool only; it does not pre-qualify you for any loan programs nor does it guarantee that you will qualify for any pool financing programs or credit terms. This pool calculator performs simple computation, but it does not provide investment, legal, tax, or accounting advice.
Pool Financing: Can You Finance A Pool?
FAQ
What is the average term for a pool loan?
Is it a good idea to finance a pool?
What is the interest rate on pool loans?
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Credit Rating
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Average APR
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Average Amount
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Excellent (720+)
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20.70%
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$18,384
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Good (660-719)
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25.42%
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$14,462
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Fair (620-659)
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30.72%
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$8,355
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Poor (<620)
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31.12%
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$9,611
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What is the minimum credit score for pool financing?
How much does a pool loan cost?
A swimming pool loan lets you pay off a pool build over time. The average cost for an above-ground pool can cost around $8,300, while the baseline for an in-ground pool can cost roughly $31,000. The annual cost of owning a pool could cost you anywhere between $3,000 to $6,000.
How long does a pool loan last?
Repayment terms on pool loans are usually between two and seven years. Some lenders, like LightStream and Navy Federal, offer longer repayment terms for home improvement projects. Rates can be high. Compared with home equity loans and lines of credit, which often have single-digit APRs, personal loans can have high rates.
How long does it take to get a pool loan?
Most loans are funded within a week. A lender may let you pre-qualify to see your potential rate, loan amount and repayment term without affecting your credit score. You can pre-qualify with multiple lenders on NerdWallet to gather estimates of your monthly pool loan payments. Need help with a big purchase?
Can you get a pool loan with a longer term?
Pool loans with longer terms have lower monthly payments but cost more in total interest. Some lenders only offer three- or five-year repayment terms, but others can have terms up to 12 years. Joint loan option: If you share the home where you’re putting the pool in, you may be able to get a joint loan.