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How To Finance A Pool

Feb 08, 2024

When Summer hits, and the Sun is blazing, almost nothing sounds better than a dip in the pool. Swimming pools are the dream of many families, but it can be tricky to figure out how to make that dream a reality in today's crazy maze of over-priced pool companies.

This is where DIY Pools and Spas come in. We make it our priority to save you money on your swimming pool because we think every family deserves one. We do this by helping you become the project manager instead of hiring a pool company to do everything for you. It may seem intimidating at first, but you don't have to worry. We are experts at what we do, and we will be there with you every single step of the way.

Many homeowners will end up overpaying for their in-ground pool by $20,000 or more simply because they can't find a lender who will let them bypass the pool builder company for their pool loans.

We're here with your solution.

How to Finance a Pool

The best way to finance your pool installation project is with cash, but that isn't always an option and it can take years to save up that much money. So, if you're one of those people seeking other options, here are some ideas to save that minimum of 20k and find financing without pulling your hair out:

Personal Loans

Most personal loans are unsecured. Unsecured personal loans are when you don't pledge collateral such as your house or a car. Instead, lenders check your credit history and score, income, debt, etc, and go off of that. If you get accepted based on that, you get a lump sum and return it as monthly payments.

Personal loan amounts range from $1,000 to $100,000 with a fixed interest rate anywhere from 6% to 36%. Your loan offer depends on your specific information. They make for good swimming pool loans because approval is often fast, and the loan amounts are fixed, which means once you have a firm cost estimate for your pool, you can go ahead.


LightStream is part of Truist. They work hard to offer good-credit customers a quick and easy loan process. They offer low-interest, fixed-rate loans from $5,000 to $100,000 for practically any reason you could need. In our case, swimming pools are on the mind.

With their unsecured LightStream loan, there are no fees or prepayment penalties, plus there aren't any appraisal or home equity requirements. With an excellent credit score (800 and up) you can secure the lowest interest rates available and potentially have funds deposited into your account on the very same day that you apply! There's no middleman to get in the way, making the process quick and simple.


Viking Capital, Inc. is a family-owned business whose mission is clear: customer satisfaction. For 20 years, they've been dedicated, and their customer fan base demonstrates the excellent results they have been delivering.

They have state-of-the-art technology that keeps all the customer information intact and secure. They also ensure that the process of getting your loan from approval to your bank account is as quick and efficient as possible.

Home Equity Loans

Home equity loans are typically considered a safe, dependable option for those homeowners with a good credit score and a nice amount of equity built up in their homes. This is because these loads allow you to borrow a lump sum based on the value of your home minus the amount owed on the mortgage. Your home is the collateral, much like it is with a mortgage. Home equity loans come with fixed rates that are usually lower than any personal loan you could find because you have to put your home up as collateral, and some of the interest may be tax-deductible. The repayment terms on these loans can range from 5 to 30 years.

Home equity loans are very similar to the cash-out refinance option. The main difference is that home equity loans are secondary loans (also known as "second mortgages"), while cash-out refinances are brand-new loans with a reset repayment term and monthly payment.

You can often get more with home equity loans than most other kinds of loans which is why they're great for pool financing. However, it's important to note that these loans carry risk in that defaulting on them could result in foreclosure.

Home Equity Lines Of Credit

A home equity line of credit (HELOC) is similar to a home equity loan but with a few differences. These lines of credit leverage the equity built up in your home and function similarly to a credit card in that they are a revolving line of credit. The lender will use your home's appraised value, your credit history, debt, income, and other factors to determine your credit limit.

A HELOC only covers a fixed period (known as the draw period), they usually have variable interest rates, and the repayment terms have the ability to be longer than home equity loans.

There are typically some fees associated with HELOCs. You are responsible for paying for the property appraisal, and application fee, and closing the costs that are associated with a new loan. Since we are looking at this as an option for swimming pool financing, it's important to note that the draw period may last longer than the pool installation process, and you could face more fees for closing the line of credit early.

Paying Cash or Pay as You Build

Instead of getting a swimming pool loan, you can choose to pay in increments. You can build a pool in as little as 6 to 8 weeks with DIY Pools and Spas, but customers have built one thing at a time as their cash flow would allow. We've seen people build a pool over a year. This way means no interest rates and no debt.

It's very much on your own terms and in your control.

Do You Need a Pool Loan?

You do need a pool loan. Cash is an excellent option if you can manage it. This is partially why pay-as-you-build is an appealing way to approach pool building. It gets you the pool without the debt.

It's a benefit to us to have the availability of so many options for swimming pool financing, but sometimes they can be a burden in and of themselves.

Is it Smart to Use a Home Equity Loan for a Swimming Pool?

Building a swimming pool is fantastic for many reasons. Maybe you're looking for ways to spend more time with your family without suffering from the high temperatures of Summer, or maybe you're trying to increase your home's value. Maybe it's both and more! If you're that second or third homeowner, you're in luck...

When you build an inground pool correctly and beautifully, it adds value to your home. So, in a way, it pays for itself. A home equity loan is an excellent option for boosting your home's value by as much as 5%-8%!

As mentioned, you can get a tax break with home equity loans. The mortgage interest on this loan is tax deductible as long as the person borrowing uses the money to buy, build, or improve their home.

However, these funds must be used for/on your home, or they aren't tax deductible. For instance, if you take out a loan for $100,000, then use $50,000 on home improvements and $50,000 to pay off some credit card debt, you could only deduct the interest from the $50,000 that was used on your home.

The tax deduction, on top of other things, does make home equity loans at attractive option for pool-building loans.

How Much Do Pools Cost

On average, an inground pool will cost $45,000. The range is usually from $35,000 to $65,000 and sometimes it will be upwards of $75,000 and far beyond, depending on how elaborate it is. There is so much that changes the cost of a pool, from size, to shape, to material, to, how many/what kind of features you have, to location, etcetera. It all has an impact.

Since material is likely to be one of your biggest cost factors, let's take a look at some material choices that will affect your price point:


Concrete gunite pools are the best material. They're strong, reliable, and they look fantastic. They're fully customizable to any size and shape you can dream up because the concrete is poured into a customized mold. They can go from very small to incredibly large, very basic shapes to complexity, and everything inbetween. Concrete pools are very durable and hard to damage. Even sharp objects have a hard time messing anything up.

When they're properly taken care of, concrete pools can last fifty years or more. Often, concrete pools will last an entire lifetime.

For many reasons beyond what's been stated, concrete is the perfect material for every yard. You can expect to pay anywhere between $50,000 and $100,000. Yes, that's a big range, but as stated before, they're very customizable.


If you are on a tight budget, vinyl is the best option. The upfront cost is, on average, $28,000. They don't last as long as concrete, but they do require less cleaning. Vinyl is a nonporous material, which means algae has trouble grabbing hold and growing. With proper care, algae won't be able to wreak havoc on a vinyl pool. Less chance for algae means fewer cleaning chemicals and cleaning services that aren't required as often. Over ten years, you'll spend an average of $13,300 maintaining a vinyl pool.

In addition, vinyl shells aren't very vulnerable to freezing/thawing cycles which makes them a little more versatile in terms of environment.


Fiberglass is still an affordable option but has a little more strength than vinyl. You can safely expect about $55,000 for a fiberglass pool, but anywhere from $45,000 to $70,000. Fiberglass has a smooth surface that's easy on the skin and easy to clean.

Another added advantage of fiberglass is that it's quick to install. You can see a fiberglass pool shell installed in as little as 2-3 days. They come pre-built, which is why they're quick, but it does limit their size and shape capabilities.

Since fiberglass pools are lightweight, you can put them almost anywhere. Decks are a popular choice, but there's also the upper floor, or an outdoor balcony.

If you care for your fiberglass pool diligently, you will probably see it last for 20-30 years. You will have to be cautious owning a fiberglass pool, because they're a lot softer than concrete. Sharp objects can cause damage without much effort.

Why Choose Us?

We are in the business of making pools available and affordable for everyone. Families deserve to have a place where they can bond and build memories with their loved ones. We have spent over 40 years in the pool industry and we've seen firsthand how a pool can help a family grow closer.

Additionally to seeing the effect pools had, we also saw a need. There were so many families out there who wanted a beautiful, well-crafted pool, but they couldn't afford what the market had to offer. That's when we created D IY Pools and Spas .

With our help, you can circumvent the insane prices of pool companies by being your own. You become the project manager. You vet the people who will be in your yard, working on your pool, that you expect to last decades. You choose who to hire, at what price point, on your schedule, and within your budget!

With this process, we save our customers more than $20,000 on their pool projects, and they end up with top-of-the-line equipment, stunning pools, and their dreams brought to life.

We don't settle for low quality, and neither should you. Whatever your budget is, no matter how out-of-reach your dream may seem, give us a call. We will work with you until you get what you want with what you have.