Best Hot Tub Financing Options For Good & Bad Credit

Whether you’re looking to increase the value of your home before you sell it, or simply want a new way to relax, you might be looking at purchasing a hot tub. Hot tubs can help you jazz up a summertime garden party or help you turn your home around for a higher price. Either way, this can be a big expense and may be difficult to finance out of pocket. 

Can you finance a hot tub?

The great news is that if you don’t have enough money to fund a hot tub, there are many ways to finance one. Personal term loans are one of the most popular options for doing this and are accessible to borrowers across a range of financial qualifications. Other than standard term loans, you can also consider getting a line of credit or using home equity or home improvement loans. 

Can you make payments on a hot tub?

Many hot tub distributors offer monthly payment plans, so you may be able to finance your hot tub without borrowing from a separate lender.

How much does a hot tub cost per month?

Most hot tubs cost somewhere between $3,500 and $12,000, with lenders typically offering repayment periods of up to five years. For example, if you purchase a hot tub for $5,000, with a 9% APR and two-year repayment term, your minimum monthly payment will be $228.42.

How much does a new hot tub cost?

A new hot tub can run you anywhere from $3,500 for the most basic model, all the way up to $20,000 for the largest and most luxurious tubs. Most, however, won’t cost more than $12,000. 

Does it matter if my hot tub is above-ground or in-ground?

Deciding to purchase an in-ground hot tub can greatly increase the cost of the project because it will require excavation, landscaping and professional excavation. It can also cost more to heat an in-ground hot tub. If you’re looking for a low cost and efficient option, an above-ground hot tub is the better choice. 

What are my options for hot tub financing?

Home Equity Loans


  • Credit score may not be as large of a factor in the approval process than with a traditional loan
  • May be easier to qualify for than a traditional personal loan
  • Interest rates may be lower than with an online personal loan
  • Borrowers may have access to larger amounts or more flexible repayment terms


  • May perpetuate a cycle of debt
  • Home may be at risk if the borrower does not make timely payments
  • Borrower may be at greater financial risk if the loan amount exceeds the value of the home
  • Not tax deductible


APR rangeStarting at 4.99%
Available loan termsUp to 30 years
Loan amountsBorrow up to $150,000
FeesLow origination fee
Credit neededMinimum credit score 600
Best forMajor Purchases, Home Improvements or Consolidating Debt
Click “Check Rates” to apply to Figure

» MORE: home equity review

Zero-Equity Personal Loans


  • Won’t put your home at risk in case of late payments
  • Timely payments can help credit score
  • Higher interest than equity financing
  • Loans can fund in as little as one business day
  • Wider variety of lenders and funding options for borrowers across all income and credit brackets


  • Late payments can negatively impact credit score
  • Rates can be very high
  • Can be difficult to qualify for a low-interest loan with bad or average credit 

Home Improvement Loans


  • Home improvements can increase a property’s value
  • Allows homeowners to fund major repairs and projects that can’t be paid for out of pocket
  • Can come with longer repayment terms


  • The cost of the loan and interest rates can surpass the value that the improvement adds to the property
  • Bad work can cause property to lose value
  • Can come with high interest rates if your financial qualifications are not up to snuff


APRStarting at 6.99%
Loan amounts$5,000-$75,000
Time to fundAs Early As 48 hours
Credit needed680
Best forBorrowers With Good Credit
Click “Check Rates” to pre-qualify and receive a personalized rate.

» MORE: Earnest personal loan review


  • Amounts of up to $75,000
  • No late payment fee
  • Rates as low as 6.99%, with a maximum of 18.24%
  • Easy, online application
  • Repayment terms of three to five years


  • No option to pay creditors directly
  • Difficult for new borrowers or borrowers with bad credit to qualify, with a minimum credit score requirement of 680
  • Not available in all US states


APR range4.99% - 16.79% w/AutoPay1
Available loan terms24 to 144 months1
Loan amountsup to $100,000
Time to fundAs soon as the same day**
FeesOrigination fee: None
Late fee: None
Prepayment fee: None
Credit needed660+
Income neededn/a
Soft Credit Check?Varies
Best forBorrowers with good credit, long credit history, co-signers, debt consolidation, home improvements
Click “Check Rates” to apply to LightStream

» MORE: LightStream Personal Loans Review


  • Rates as low as 3.99%
  • Accepts co-signers
  • Access to amounts of up to $100,000
  • Longer repayment terms than many other online lenders
  • No origination, late or prepayment fees
  • Loans can fund as soon as the same day


  • Rates may be higher than with a traditional bank or lender
  • May be difficult for new borrowers to qualify, with a minimum credit score requirement of 660
  • Hard credit pull on loan applications


APR range:5.99% to 16.99% APR (with AutoPay)
Available loan terms:24-84 months
Loan amounts:$5,000—$100,000
Time to fund:Typically 7 days
Origination fee:None
Credit needed:680+
Income needed:$50,000+
Soft Credit Check?Yes
Best for:Young professionals and graduates, good credit
Click “Check Rates” to apply to SoFi

» MORE: SoFi Personal Loans Review


  • APR as low as 5.99%
  • No origination, late or overdraft fees
  • Flexible repayment terms ranging between two and seven years
  • Autopay option
  • Loans of up to $100,000


  • Loans can take up to three days to fund, while many other online lenders offer funding times as short as one to two business days
  • Difficult for borrowers with low or average credit to qualify, with a minimum credit score requirement of 680

Credit Card Financing


  • Timely payments can boost credit score 
  • More convenient and regular access to funds than with personal loans 
  • Borrowers only pay on what they use


  • Can perpetuate overspending habits
  • Rates can be much higher than standard personal loans
  • May come with more fees than personal loans
  • More susceptible to fraud than a personal loan

» MORE: Compare Credit Cards


A hot tub can be a great investment to help you relax or get a greater return on the sale of your home. Personal and home equity loans are some of the most popular ways to fund this addition to your home. No matter whether you’re going for the most luxurious and top-of-the-line tub on the market or are just going for a basic above-ground installation, make sure that you know exactly how much you want to borrow so that you don’t end up taking out more cash than you need to. 

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