Our top picks for the best pool loans come from LightStream, SoFi and Discover.
Jump to insightA pool loan is a type of personal loan specifically for purchasing a pool.
Jump to insightSome alternatives to personal loans include home equity loans, lines of credit, cash-out refinances or credit cards.
Jump to insightOur top picks for the best pool loans
To make our choices for the best pool loans, we collected 806 data points, including 26 individual data points for 31 lenders. We also looked at customer reviews and overall ratings from ConsumerAffairs readers. We then used these data points to evaluate factors that have the most impact on borrowers, such as annual percentage rates (APRs), credit score requirements, loan amounts, terms and fees, to help us make our final selections.
Our picks may be Authorized Partners who compensate us. This doesn’t affect our recommendations or evaluations, but it may affect the order in which the companies appear.
Our top picks for the best pool loans come from:
- Loan amounts
- $5,000 to $100,000
- Term lengths
- 2 to 20 years
- APR
- 6.49% to 25.39%
- Minimum credit score
- 670 to 700
Partner Disclosures
SoFi disclosures
Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
- Loan amounts
- $5,000 to $100,000
- Term lengths
- 2 to 7 years
- APR
- 8.74% to 35.49% (with all discounts)
- Minimum credit score
- Not disclosed
Partner Disclosures
SoFi disclosures
Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 02/23/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions. Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. SoFi Plus Discount: SoFi Plus members are eligible for an interest rate reduction of 0.25% on a Personal Loan. To be eligible for the discount, you must meet the SoFi Plus eligibility criteria within 31 days of the funding of your loan. For complete SoFi Plus eligibility, please see the SoFi Plus terms. When you enroll in SoFi Plus, the discount will lower the interest rate that applies to your loan only during periods in which you are enrolled in SoFi Plus. The discount will be removed during periods in which SoFi determines you are not enrolled in SoFi Plus. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to change or terminate this offer for unenrolled participants at any time. You are not required to enroll in SoFi Plus to be eligible for Loan approval.
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
- Loan amounts
- $2,500 to $40,000
- Term lengths
- 3 to 7 years
- APR
- 7.99% to 24.99%
- Minimum credit score
- 660
What is a pool loan?
A pool loan is a type of personal loan that’s specifically for purchasing and installing a new pool. Instead of paying for a pool in cash all at once, you can finance the purchase and pay it back in fixed installments.
Pool loans are typically unsecured loans, which means they don’t require collateral. Instead, a lender will consider your credit score, income and debt-to-income (DTI) ratio when evaluating you for a loan. However, a good to excellent credit score is typically required.
“If you're considering a pool loan, you'll have better luck with a credit score at or above 700,” said Rafi Friedman, the CEO of Coastal Luxury Outdoors, a pool-building company.
“One way to make pool loans more affordable is to go for one with a longer term,” Friedman said. “While this will increase the overall cost of your pool, it will keep your monthly payments low and manageable.”
» MORE: Best pool companies
Pros and cons of a pool loan
Like all financial products, pool loans have pros and cons.
Pros
- Typically fast funding
- Flexible loan amounts and terms
- No collateral for unsecured loans
Cons
- Potential for high APRs
- Potential fees
How to get a pool loan
First, you’ll need to decide how much you’ll need to finance a pool purchase. Then, you can move on to getting a loan.
1. Compare lenders’ offers
Look into as many personal loan lenders as you can to see what rates and term lengths they can offer you. It can help to get prequalified, which involves a soft credit check and won't impact your credit score.
If you're considering a pool loan, you'll have better luck with a credit score at or above 700.”
2. Apply for a loan
Once you find the best lender for your needs, you’ll complete your loan application. Most lenders require you to have certain documents available for this, such as recent pay stubs, bank statements, tax returns and a government-issued ID.
3. Submit your application
Once you submit your application, the lender will usually do a hard credit inquiry, which can temporarily drop your credit score. Look out for any additional requests from the lender, such as income information. Failure to respond might cause a delay in your application processing and approval.
4. Wait for funding
If you’re approved for a loan, you can typically expect to receive funding within one to three business days. However, it can sometimes take up to a week.
Pool loan alternatives
Before taking out a pool loan, it’s best to consider some alternatives. Each option has its pros and cons, but depending on the situation, one of these options could be a better fit.
Home equity loan or line of credit
With a home equity loan or home equity line of credit (HELOC), you use your home as collateral for a loan. The loan gives you a certain amount against the equity you have built up in your home. Because these loans are secured, they can have lower interest rates than a pool loan.
“Pool loans are definitely a good option for well-qualified borrowers, but because they're unsecured, they usually have much higher interest rates and lower borrowing limits than something like a home equity loan or HELOC,” Rafi Friedman said.
Cash-out refinance
With a cash-out refinance, you replace your existing mortgage with a larger one, taking the difference in cash. You can use the cash you receive to pay for your pool purchase. As a bonus, you might be able to secure a lower rate on the new mortgage, depending on the situation.
Keep in mind that closing costs and other fees are associated with this option, which will increase the overall cost.
Credit cards
A credit card could be a good alternative for a small or cheap pool. Some credit cards include a 0% introductory APR offer for up to 21 months, which can allow you to pay for a pool and carry a balance without paying interest for the duration of the intro period. However, these cards can have high APRs after the intro period, so it’s best to pay them off before the intro offer expires.
FAQ
How much does a pool cost?
Inground pools typically cost around $20,000 to $120,000 to buy and install, while an above-ground pool typically costs anywhere from $2,000 to $12,000, according to our research.
What’s the difference between a pool loan and pool financing?
Pool loans and pool financing may overlap but aren’t always the same. A pool loan is generally an unsecured personal loan that pays for a new pool. Pool financing can include any financing option, such as personal loans, home equity loans or HELOCs.
Can you refinance a pool loan?
You can typically refinance personal loans. This option may help you secure better terms, particularly if your credit has improved or interest rates have dropped since you first took out a loan. Before refinancing, be sure to compare lenders’ offers and fees.
The bottom line
With a pool loan, you can finance your pool project sooner and faster. Not only is having a pool a nice treat in the summer, but a well-constructed pool can increase your home’s value, depending on your location and the housing market. However, keep current interest rates in mind, since it will mean paying more for your pool over time.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Consumer Financial Protection Bureau, “Do Personal Installment Loans Have Fees?” Accessed Feb. 13, 2026.
