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Hot Tub Financing

You may need hot tub financing if you want to buy a new hot tub or upgrade your current spa. Maybe, you don’t have the cash on hand and want to look at hot tub financing options. Jacuzzi financing can be challenging but there are options.

Hot Tub Financing
Allison Bethell
Real Estate Expert

If you have back pain, are an athlete, or are recovering from an injury, a hot tub can be therapeutic. It’s also a great place to unwind and relax. Once you decide that you want to buy a hot tub, you need to figure out how to pay for it. That’s where hot tub loans come in. The costs of financing a hot tub vary based on the type of loan and your overall credit profile. You want to find the right lender with the best loan products and our team of financial experts did the homework for you. They reviewed and ranked more than 30 online lenders to help you get funded.

Our Top Picks for Best Hot Tub Financing

lightstream._logo
  • Funding as soon as the same day
  • Allows joint applications
  • No origination fee
Min. Credit Score
Min. Credit Score Not Disclosed
Loan Amounts
Loan Amount $5K-$100K
Est. APR
Loan Repayment 24-240 months
bestegg_logo
  • Wide range of loan amounts available
  • Fast application process
  • Direct payments to creditors as an option
Min. Credit Score
Min. Credit Score Undisclosed
Loan Amounts
Loan Amount $2K-$50K
Est. APR
Loan Repayment 36-60 months
upstart review
  • Loans can be funded in one busines day
  • Prequalification with a soft credit check
  • Accepts borrowers with fair credit
Min. Credit Score
Min. Credit Score 600+
Loan Amounts
Loan Amounts $1K-$50K
Est. APR
Loan Repayments 36-60 months

How to Choose the Best Hot Tub Financing?

Hot tubs can be expensive and they vary in price based on their design, size, and quality. However, you should expect to spend anywhere from $2,000 to $32,000 on one. Given their price, you will want to save money on your financing costs. That’s why it’s so important to consider a number of factors to ensure that you get the most competitive rate and the terms that best fit your needs. Our experts used the parameters below to rank the best hot tub lenders.

Consider the following factors:

  • Loan Features: Know the type of loan you’re getting and if you will receive a lump sum or have access to a revolving line of credit. Both of which can be used for financing a hot tub. Be familiar with minimum and maximum loan amounts, the length of the loan, called the term, and loan use limitations.
  • Interest rates and fees - Considers different types of fees such as origination fees, prepayment penalties, application fees, and late fees. Know what the minimum and maximum interest rates are as well. Typically, the higher your credit score, the lower your rate will be.
  • Application process - Can you apply for the loan online? Is the application long and invasive or short and simple? Find out if the company requires a soft-pull or a hard-pull on your credit. How long will it take for the loan to fund and how will you receive the money? What else does the company offer you that its competitors don't?
  • Qualification process - Lenders have criteria that you need to meet in order to qualify for a hot tub loan. There’s usually an income requirement and a minimum credit score that needs to be met. Find out if you need to be a member, especially if the lender is a credit union. Additionally, see if joint applicants or co-signers are allowed.
  • Customer support - Consider accessibility to a live CSR rep, the degree of multi-channel support, and the availability of supplemental information and tools. Make sure that the type of support and the available hours work for your lifestyle. Companies that offer webinars, blogs, help centers, and FAQs are helpful too.
  • Online user reviews - Reviews on independent review sites like Trustpilot can show you a lot about the company, its support team, and its loan products. Read both negative and positive reviews and see if there are any overarching themes that the lender is doing well or poorly.
  • Perks and Bonuses - Consider specified service offerings like payment flexibility, advertising transparency, and advanced technology. What does the company do for you as a customer? How does this compare to what other companies offer you?

Best Online Personal Loans for Hot Tub Financing

The following companies offer the best online personal loans. These loans aren’t necessarily specific to hot tubs but can definitely be used to purchase a hot tub.

1.LightStream - Best for Transparency

An online division of financial powerhouse Truist, LightStream, offers online personal loans that can be used for hot tub financing. They even have specific loans for home improvements, swimming pool loans, and medical equipment financing. The loans are installment loans with fixed interest rates so you get access to a lump sum of money once approved. Loans are designed for borrowers with good credit or excellent credit. Rates are competitive and you can easily find your interest rate online by choosing the loan purpose and amount.

Pros
Autopay discount
Fast funding times
High maximum loan amounts: up to $100,000
Cons
Hard credit pull: For a full pre-approval
Higher rates: For larger loan amounts
Credit score requirement: At least 680


LightStream offers financing for hot tubs in the form of personal loans. Rates range from 3.49% to 19.99% and terms are between three and seven years. Maximum loan amounts go up to $100,000 and you need a credit score of at least 680 to qualify for a loan. LightStream is designed to present the best options to financially secure borrowers.

The Bottom Line

LightStream is backed by a large financial institution so that provides a sense of security to some borrowers. Additionally, the rates, terms, and costs are transparent and easy to find on the company’s site. This is a great option for hot tub financing if you meet the lending criteria.

2.Best Egg - Best for Being Informative

BestEgg offers personal loans and credit cards to its customers. It offers personal loans under a bunch of different sub-categories including home improvement, moving, adoption, vacation, debt consolidation and more. The website is informative and has an entire section devoted to learning more about your financial health, how to improve your credit score, and all about personal loans. Loans have a large range so you can finance a small affordable hot tub or a large luxurious one that has built in speakers and lights.
Pros
Informative: Learning center
Large range: Of loan amounts
Flexible terms: three or five years
Cons
Rates: Higher than some lenders
Unknown: Credit score minimum
Origination fee: Charged on loans


Best Egg offers hot tub loans in the form of online personal loans with terms of three or five years. Loan amounts range from $2,000 to $50,000 and rates typically fall between 5.99% and 35.99%. Funding can be as fast as the next day. You can check your rate as a soft-pull which doesn’t affect your credit score. Keep in mind that loans aren’t available in all states. Vermont, West Virginia, Washington D.C., and U.S. territories don’t offer Best Egg loans.

The Bottom Line

Best Egg is a good option for hot tub financing if you’re looking for a loan that can be funded quickly in your state. They’re also ideal if you want to learn more about your credit profile and about personal loans and financial tools in general.

3.Upstart - Best for Low Credit Borrowers

Upstart is a lending platform powered by artificial intelligence. It combines technology with finance. Its site is easy to navigate and it doesn’t have a minimum credit score requirement so is ideal for borrowers with lower scores. It offers personal loans that can be used for a variety of things including hot tubs, medical loans, moving loans, and wedding loans, as well as loans for debt consolidation. You can check your rate in minutes and there are no prepayment penalties. All unsecured loans are offered by Upstart’s bank partners.
Pros
Credit score: No minimum
Range of loans: $1,000 - $50,000
Loan terms: Choose three or five years
Cons
Loan details: Vary by state
High Average APR: 24.95%
No extras: That you may find at a competitor


Upstart works with borrowers with varying levels of credit from poor to excellent and everything in between. They don’t disclose a minimum credit score needed to qualify for a personal loan. Interest rates typically range from 5.22% to 35.99% with the average APR on the high side at 24/95%. Loan amounts range from $1,000 to $50,000 and loan terms are either three or five years.

The Bottom Line

Upstart is a good lender for hot tub financing because they work with all different credit profiles, have a large range of loan limits, so you can finance an affordable hot tub, or potentially finance a more expensive one. The company also automates the application process which can easily be completed online within a few minutes.

4.OneMain Financial - Best for Smaller Loans

OneMain Financial offers personal loans and credit cards and has physical locations as well as online lending services. Their loans are installment loans and have fixed monthly payments over the term of the loan. They can be used for hot tubs and other home projects, as well as things like emergencies, autos, recreation, and debt consolidation. They’ve been in business for more than 100 years.
Pros
Check for offers: Without a credit check
Physical branches for in-person service
No prepayment penalties
Cons
Low loan limit: Only up to $20,000
Credit score: Minimum not disclosed
Higher interest rates: 18% - 35.99%


At OneMain Financial, if your loan is approved by noon, you may be able to get the funds the same day. Their website has a resource section with helpful blogs and explanations of how personal loans work. Loan approval is based on credit history, income, expenses, debts and sometimes on available collateral. Rates range from 18% to 35.99% and loan terms are between two and five years. Loan amounts range from $1,500 to $20,000.

The Bottom Line

OneMain Financial is a viable option if you want to finance a hot tub under $20,000 which is their personal loan limit. They also have office locations so if you want personalized service rather than dealing with a company that’s entirely online, they may be a good option for you.

Hot Tub Financing With Home Equity Loans and HELOC

A home equity loan is also called a second mortgage. It uses the equity in your home as collateral. It’s set up like a mortgage loan and typically has a fixed interest rate and monthly payments. You receive the funds as a lump sum payment. In order to qualify, you may need to have owned the property for a certain period of time, and you will need to have enough equity in the property to get a loan against it.

A HELOC (Home equity line of credit). It is set up more like a credit card than a mortgage loan. It also uses the equity in your home as collateral, but instead of receiving a lump sum, you will have access to a line of credit. You can then withdraw funds during the draw period and you only pay back what you actually use.

Below are the best home equity loans and HELOCs that can be used to purchase a hot tub.

1.SoFi - Best for Seamless Application

SoFi teamed up with Spring EQ Home Equity to offer HELOCs to borrowers. The application process is seamless and you only need to present four documents to qualify. Funding can happen as quickly as two weeks from the date your application is approved. Money can be used to pay off debt, make home improvements, including purchasing a hot tub, or things like paying for school or vacations.
Pros
Soft-pull: Without affecting your credit
Multiple types of loans
High loan limit: Up to $500,000
Cons
Average HELOC takes 3 weeks to fund
Separate site for HELOC and personal loan
Lacking specific qualification information


SoFi through its partner SPring EQ Home Equity offers HELOCS to qualified borrowers for upto 97.5% of their home’s value or up to $500,000. Credit score minimums aren’t disclosed. Terms range from five to thirty years and funds can be received in as quick as eleven days but the average loan takes up to three weeks to fund.

The Bottom Line

This lender is a good option for hot tub financing if you want a seamless application process that doesn’t take long and doesn’t require large quantities of paperwork. It’s also good if you want to get a larger loan because the limit goes up to $500,000.

Try SoFi

2.Discover - Best for No Fee HELOCs

Discover, not only a credit card company, they also offer personal loans, and HELOC loans. These home equity lines of credit can be used for different purposes including to renovate your home and purchase a hot tub. You can apply online or over the phone in just a few minutes. Rates are fixed so won’t go up as the market rates increase, and loan specialists are available seven days a week. The company doesn’t charge any origination fees, application fees, or closing costs, However, if you pay off the entire loan within three years, you will be required to reimburse Discover for some of the closing costs.
Pros
Loan specialists available to help
Varying loan terms to choose from
No upfront fees
Cons
Lower loan limits: Only up to $300,000
Unknown credit score minimum
Higher starting APR than some other lenders

discover
Discover offers HELOCs that range in amount from $35,000 to $300,000 with rates ranging from 5.99% to 12.99%. Terms are either 10, 15, 20 or 30 years. No minimum credit score is disclosed and you can apply for the loan online or over the phone with a loan specialist. The company doesn’t charge origination fees, appraiser fees, or closing costs, which can save you a lot of money upfront.

The Bottom Line

Discover is a reputable company and doesn’t charge any of the pesky fees like origination fees that other companies charge. They also have loan specialists to help answer questions and helpful loan information on their website.

3.Prosper - Best for Multiple Types of Loans

Prosper offers both personal loans and HELOCs but we’re focusing on their HELOCs which can be used for a hot tub loan. These revolving lines of credit give you the flexibility of paying back only what you use and some offer interest only periods. Rates are lower than personal loan rates but you do need to have enough equity in your home to qualify. Prosper will lend up to 97.5% of the equity in your home minus any outstanding mortgage. They fund as quickly as eleven days which is fast for HELOCs.
Pros
Fast funding available
High loan amounts: Up to $500,000
Competitive rates: 4.24% and up
Cons
Draw limits of $50,000 initially
Variable rate: Can go up
No investment property HELOCs

prosper
HELOCs offered by Prosper offer competitive interest rates starting at 4.24%. Once you click on their check your rate button on the website, you will have a soft-credit pull done and get a more exact rate. In order to qualify, you need at least a 640 credit score and higher scores get access to higher loan limits and better rates. There’s a ten year draw period, during which you can choose to make interest only payments. Their loans go upto $500,000 for qualified borrowers with sufficient available equity. Keep in mind, that these lines of credit are for primary residences and not investment properties.

The Bottom Line

Prosper is a good option for hot tub financing if you want to quickly check your rate, complete the application online, and get quickly funded. They also offer personal loans and HELOCs so if one doesn't work for you, you can check out the other type of loan on the same site.

4.Figure - Best for Fast HELOC Funding

Figure helps people figure out their finances in minutes. It offers HELOCs with fast funding and applications that can be completed 100% online. In addition to these loans, they also offer personal loans, and crypto backed loans. The company doesn't require an in-person appraisal and the application only takes a few minutes. They have online customer service and online notaries in some locations which helps speed up the loan process.
Pros
Fast funding: As quick as five days
Low rates: Start at 3.24% and up
Personalized loan recommendations
Cons
Undisclosed: Minimum credit score
Origination fee on loans
Low APR only if discounts applied

figure
Figure doesn’t list its minimum credit score requirement to qualify for a HELOC but it does take into account your overall financial profile. Loan amounts go up to $400,000 and interest rates start at 3.24% but those low rates do include discounts for auto pay and paying an origination fee to keep the rate low. You need to fill out a prequalification form to get exact rates and terms of the loan.

The Bottom Line

Figure has a helpful website with a lot of valuable information on HELOCs and even compares them to other loan products. They have a simple application process and funding can be done as quickly as five days which is very fast for a HELOC.

Best Online Options for Hot Tub Financing - Main Features


Company Name

Loan type

Est. APR

Min. credit score

Loan Amount

Loan term

LightStream

Personal loan

3.49% - 19.99%

680

Up to $100,000

3 - 7 years

Best Egg

Personal loan

5.99% to 35.99%

Not disclosed

$2,000 - $50,000

3 or 5 years