Guide to Swimming Pool Financing

Swimming pools are becoming increasingly popular due to the vast selection of shapes and different styles, with some including attractive features like waterfalls. Many financial institutions are recognizing that adding a pool to your property is a positive thing that increases equity which works to your benefit when you start looking for swimming pool financing

Installing a pool should not be an emotional decision. It’s important to consider the ongoing cost associated with pool maintenance that stretches beyond the initial installation costs. The costs will include maintenance and operation costs, such as keeping the water clear and clean and the cost of electricity and water. Then there’s the additional insurance cost, not only of increasing your homes rebuilding value to accommodate the pool, but also the cost of extending the liability to the pool. You’ll also be looking at increased property taxes due to the increased value of your home.


Before you consider borrowing money, it’s best that you exhaust all sources of financing available to you. The great thing about pools is that they don’t need to be installed all at once. You can elect to have the pool and the basic electrical and plumbing installed initially and then as more money becomes available, you can add things like lights, heaters, auto cleaners, patio or decking and a pool house. Many people will find that after exhausting all manner of finances they don’t actually need a loan at all and the greatest advantage of doing it this way is no payments and no interest. 

Bank Financing

Bank financing is the least appealing of the options available for swimming pool financing. Most banks don’t recognize the value of adding a pool to your home because they don't take into account that a pool will increase the equity in your home.   

They will generally offer to finance with a long term loan, similar to the mortgage you have on your home. While the advantage of this may be that you’ll have your payments stretched out over a long period of time, the disadvantage is that banks don’t typically offer a fixed rate and the loan becomes attached to your mortgage.

Swimming Pool Financing Companies

Financing is also available through some companies that specialize in swimming pool financing. Typically this is done without the need for equity and no money down, and payments can be arranged over a period of 3 to 6 months. Keep in mind that you’ll still have to qualify with some sort of collateral and ability to pay as well as a good track record of your credit history.

Vendor Financing

Many pool builders will offer in-store financing. They understand that all there is to know about the pool building process. Their special financing arrangements will allow for latitude in customizing a manageable plan. Since they arrange these loans all the time, they understand the jargon. If you need to finance your swimming pool, this is probably your best option.