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Hot Tub Financing: Best Personal Loans to Consider in 2023

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. Hot tub financing can be challenging but there are options.

Hot Tub Financing
Allison Bethell
Written by:Allison Bethell
Real Estate and Personal Finance Expert
Hot Tub Financing

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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.

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 team of financial experts ranked lenders based on our ratings methodology for personal loans and found the best loans on the market. This ratings methodology evaluates lenders based on loan length, APR, repayment terms, user experience, customer service, credit score history, banking and credit union use, and additional features.


Best Personal Loans for Hot Tub Financing: Full Overview

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.

Best Overall

LightStream - Best for Transparency

2.99% to 19.99%
Loan Amount
Min. Credit Score
Not Disclosed
Key Features
  • Funding as soon as the same day
  • Allows joint applications
  • No origination fee
Pros & Cons
  • Autopay discount
  • Fast funding times
  • High maximum loan amounts: up to $100,000
  • Hard credit pull: For a full pre-approval
  • Higher rates: For larger loan amounts
  • Credit score requirement: At least 680

LightStream is an online division of financial powerhouse Truist. The lender offers online personal loans that can be used for hot tub financing. LightStream also offers specific loans for home improvements, swimming pool loans, and medical loans.

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.


Main Features

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.

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.
upstart review

Upstart - Best for Low Credit Borrowers

3.09% - 35.99%
Loan Amounts
Min. Credit Score
Key Features
  • Loans can be funded in one busines day
  • Prequalification with a soft credit check
  • Accepts borrowers with fair credit
Pros & Cons
  • Credit score: No minimum
  • Range of loans: $1,000 - $50,000
  • Loan terms: Choose three or five years
  • Loan details: Vary by state
  • High Average APR: 24.95%
  • No extras: That you may find at a competitor

Upstart is a lending platform powered by artificial intelligence. There is no minimum credit score requirement which makes it 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.


Main Features

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.

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.
 sofi review

SoFi - Best for Seamless Application

6.99% to 21.78%
Loan Amount
Up to $100,000
Min. Credit Score
Key Features
  • No origination, prepayment, or late payment fees
  • Joint applications accepted
  • Offers .25% discount for autopay
  • Borrowers up to $100,000
Pros & Cons
  • Soft-pull: Without affecting your credit
  • Multiple types of loans
  • High loan limit: Up to $500,000
  • Average HELOC takes 3 weeks to fund
  • Separate site for HELOC and personal loan
  • Lacking specific qualification information

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.


Main Features

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.

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.

Prosper - Best for Multiple Types of Loans

7.95% to 35.99%
Loan Amount
Min. Credit Score
Key Features
  • Lower credit score requirements
  • Quick and easy application process
  • More freedom of loan uses
  • Interest rates are fixed
Pros & Cons
  • Fast funding available
  • High loan amounts: Up to $500,000
  • Competitive rates: 4.24% and up
  • Draw limits of $50,000 initially
  • Variable rate: Can go up
  • No investment property HELOCs

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.


Main Features

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.

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.

Best Egg - Best for Being Informative

5.99% – 35.99%
Loan Amount
Min. Credit Score
Key Features
  • Wide range of loan amounts available
  • Fast application process
  • Direct payments to creditors as an option
Pros & Cons
  • Informative: Learning center
  • Large range: Of loan amounts
  • Flexible terms: three or five years
  • Rates: Higher than some lenders
  • Unknown: Credit score minimum
  • Origination fee: Charged on loans

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.


Main Features

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.

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.

OneMain Financial - Best for Smaller Loans

18% to 35.99%
Loan Amount
Min. Credit Score
Key Features
  • Offers joint and secured loans
  • Accepts low credit borrowers
  • Can fund a loan the same or next business day
Pros & Cons
  • Check for offers: Without a credit check
  • Physical branches for in-person service
  • No prepayment penalties
  • Low loan limit: Only up to $20,000
  • Credit score: Minimum not disclosed
  • Higher interest rates: 18% - 35.99%

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.


Main Features

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.

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.

Discover - Best for No Fee HELOCs

Loan Amount
Min. Credit Score
Key Features
  • No origination fees
  • Nine month deferment period
  • Direct payments to creditors with debt consolidation loans
Pros & Cons
  • Loan specialists available to help
  • Varying loan terms to choose from
  • No upfront fees
  • Lower loan limits: Only up to $300,000
  • Unknown credit score minimum
  • Higher starting APR than some other lenders

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.


Main Features

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.

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.

Figure - Best for Fast HELOC Funding

APR. Text
5.75% to 22.87%
Loan Amount
Up to $50,000
Min. Credit Score
Key Features
  • Autopay discount of 0.25%
  • Prequalify without hurting your credit score
  • Large loan amounts available
Pros & Cons
  • Fast funding: As quick as five days
  • Low rates: Start at 3.24% and up
  • Personalized loan recommendations
  • Undisclosed: Minimum credit score
  • Origination fee on loans
  • Low APR only if discounts applied

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.


Main Features

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.

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.

How to Choose the Best Hot Tub Financing?

  • 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?


Main Features of the Best Personal Loans for Hot Tub Financing 

Company NameLoan typeEst. APRMin. credit scoreLoan AmountLoan term
LightStreamPersonal loan3.49% - 19.99%680Up to $100,0003 - 7 years
Best EggPersonal loan5.99% to 35.99%Not disclosed$2,000 - $50,0003 or 5 years
UpStartPersonal loan5.22% to 35.99%None$1,000 - $50,0003 or 5 years
OneMain FinancialPersonal loan18% - 35.99%Not disclosed$1,500 - $20,0002 - 5 years
SoFiHELOC and personal loanVartiesNot disclosedUp to $500,0005 - 30 years
DiscoverHELOC and personal loan5.99% -12.99%Not disclosed$35,000 - $300,00010,15, 20, or 30 years
ProsperHELOC and personal loan4.24%+640Up to $500,00010 year draw period
FigureHELOC and personal loan3.34%+Not disclosedUp to $400,000Varies


Hot Tub Financing With Dealer Loans

Dealer financing is a specialty type of loan program offered by a dealer for the specific product that they are selling. For instance, hot tub dealers sometimes offer in-house dealer financing where they will finance the hot tub themselves or outsource the deal to a lender that they work with. They may have a list of banks and lenders that they can use to finance the deal depending on the borrower’s qualifications.

This saves you time because you won’t have to search for lenders on your own. They also don’t require your house as collateral as HELOCs and home equity loans do. However, there may not be as much loan transparency as with other lenders and you may be required to leave a down payment. There may also be other requirements such as not being able to finance a hot tub under a certain amount. And, dealer financing won’t cover any additional expenses you incur preparing for the hot tub installation, things like prepping the area, building a deck, or adding extra outlets.

Some options for dealer financing include:


Hot Tub Loans From The Manufacturer

Manufacturer financing and dealer financing are often used interchangeably because a good number of dealers are also manufacturers including the well-known company Jacuzzi. However, to be specific, the manufacturer is the company that actually makes and produces the hot tub.

Some of these manufacturers offer their own financing and often have specials on hot tubs such as no money down or no payments for a certain time frame. This is similar to what you would see in a furniture store. Keep in mind that you do need to qualify for the financing and any applicable specials, and a good credit score is usually needed, as well as proof of income.

A few options for manufacturer financing include:


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.


Other Hot Tub Financing Options

Other types of hot tub finance options include:

  • Cash: Using money saved
  • Investments: Cashing out to purchase hot tub
  • Borrowing: From friends or family
  • Paying for the hot tub with your credit card
  • Seller financing: Rare but may work


Can You Get Hot Tub Financing With Bad Credit?

Hot tub financing with bad credit does exist. Hot tub financing no credit check may also be an option with some companies. Some lenders offer online personal loans to those with little or no credit. These loans are generally on the smaller side with higher rates. A dealer or manufacturer may also allow in-house financing or work with a lender that specializes in bad or no credit borrowers.

Keep in mind, you may have to make a downpayment, and you will end up paying more for the hot tub than someone who has good or excellent credit. Make sure to consider all of the costs of buying the hot tub, including delivery and financing costs, as well as maintenance and repairs and ongoing ownership costs.



Now that you know the answer to can you finance a hot tub, you’re ready to choose the type of hot tub financing that works best for you. Consider dealer financing, manufacturer financing, and online personal loans. Compare lenders and their loan products to make sure you’re getting the best deal. You will want to review interest rates, terms, loan features, and the borrower requirements.

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About the Author

Allison Bethell

Allison Bethell

Real Estate Expert

Allison Bethell is a content writer, real estate investor, small business owner, and consultant. She has a B.A. from Villanova University in Sociology and Business. She also holds several graduate certificates in early childhood development, screenwriting, and contract law.

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