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Best Deck Financing

A deck is a great addition to your home and can be used for years to come. However, it can be a pricey purchase and you may not have the disposable money to spend on it. That’s where deck financing comes in.

Deck Financing
Allison Bethell
Written by:Allison Bethell
Real Estate Expert
Best Deck Financing

Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses, or reviews expressed in this article are those of the author’s alone, and have not been approved or endorsed by any partner.

Not only will you be able to enjoy the great outdoors from your deck, you can also entertain there and eat al fresco meals. Additionally, a deck may even add value to your home. But these perks come with a price. The average deck costs $7,732 to build. If you want to add things like built in seating or custom planters, those will cost more. Patio financing will help you with upfront costs. Getting deck and patio financing from an online lender may be easier than using a traditional bank loan. The application process is usually faster and less invasive and personal loans don’t usually require any collateral. Our team of financial experts reviewed and ranked more than 30 lenders to help get you funded and ready to build your dream deck.

Best Deck Financing

Best Best Deck Financing Loans for 2023 — Full Overview

Best Overall

Credible - Best for Comparison Shopping

2.49% to 35.99%
Loan Amounts
Min. Credit Score
Key Features
  • Checking rates does not affect credit score
  • Best rate guarantee
  • Allows you to compare loans from top-rated lenders
  • Loan amounts up to $100,000
  • No hidden fees
  • Easy online application
Pros & Cons
  • Competitive interest rates
  • No hidden fees or prepayment penalties
  • Low credit accepted
  • Flexible repayment terms
  • Excellent customer service
  • Not a direct lender
  • Rates will vary by lender
  • Some lenders may charge late fees

Compare loans from top-rated lenders from Credible! Credible connects you to the best lenders out there and gives you rates, loan amounts, and fees in real-time. Credible has helped more than 55,000 customers in 2021 alone and has saved them more than $92 million in interest. Fill out one application in just a few minutes and view your results instantly. Credible ranks excellent in customer service and has an A+ rating with the BBB. 


Main Features

Credible offers personal loans for deck financing from $600 to $100,000, with rates starting at 4.60%. Credible is not a lender but a loan marketplace connecting you with reputable lenders within minutes. There are no hidden fees and low credit is accepted. To apply for a personal loan with Credible, simply fill out their easy online application. You’ll be matched with lenders you qualify for, and from there you can choose your loan amount, rate, and lender. If approved, you’ll sign for the loan and may receive funds as soon as the next business day.

If you need a deck loan but don’t want to shop around, contact Credible. Credible is your one-stop-shop for comparison shopping personal loans that can be used for deck financing. Lenders in their network offer competitive rates, large loan amounts, and flexible repayment terms. Simply fill out an online application and view your results almost instantly.

PenFed: Best for a Credit Union Loan

4.99% to 17.99%
Loan Amount
Min. Credit Score
Not disclosed
Key Features
  • Low interest rates
  • No origination fees
  • You can apply with a co-borrower
Pros & Cons
  • Loan options: Choose which suits you
  • Benefits and discounts offered by credit union
  • No loan origination fee
  • Membership: Must join to get loan
  • Minimum credit score not disclosed
  • Website good be updated

PenFed is a credit union that offers full banking and lending services online and in its branches. It has a boutique feel so borrowers may get more personal attention here. A membership is required in order to obtain any personal loan including a deck loan. They offer personal loans, personal lines of credit, and home equity lines of credit.


Main Features

This lender is a good option for deck financing if you want to join a credit union and take advantage of their many benefits including affiliate discounts, low interest rates, and banking services. You also have a number of loans to choose from with PenFed.

This lender is a good option for deck financing if you want to join a credit union and take advantage of their many benefits including affiliate discounts, low interest rates, and banking services. You also have a number of loans to choose from with PenFed.

OneMain Financial: Best for Small 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
  • In person: Personalized service
  • Soft-pull: Won’t impact credit score
  • Site: Easy to navigate
  • Low loan amounts: Only up to $20,000
  • Interest rates: on the high side, 18%+
  • Don’t offer many loan choices

OneMain Financial offers deck financing through their personal loan division and you can find a specific section for home improvement and home projects. These are unsecured loans for smaller projects that offer fixed rates. Applications can be completed online, over the phone, or in a branch with a loan representative. The company operates hundreds of branches throughout the United States, as well as an online division.


Main Features

OneMain Financial offers smaller loan amounts which range from $1,500 to $20,000. Loan terms are between two and five years and minimum credit score requirements are not disclosed. Interest rates for their personal loans typically range from 18% to 35.99%.

This lender is a good option for deck financing if you want to take out a small loan and finance part of the deck or are building a more affordable deck. They’re also a good choice for people who want to be able to pop into one of their branches for a more personalized experience.

LightStream: Best for Low Rates

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
  • Satisfaction guarantee: $100 if unhappy
  • Fast funding: Often same day
  • Discounts: Autopay and more
  • No customer service hours on Sundays
  • Higher loan amounts have higher rates
  • High minimum credit score: 680+

LightStream is an online consumer lender that aims to make lending as uncomplicated as possible. They are part of Truist and reward customers who have good credit with a fast and easy loan process. You can apply for a loan from their website or their app and funding can be as soon as the same day.


Main Features

LightStream offers deck financing through its personal loan division and you can use the loan for almost any purpose. Loan amounts go up to $100,000, so if you qualify, you can build your dream deck and use the best wood, stain, and even add multiple levels. In order to qualify for a loan, you need a minimum credit score of 680. Loan terms are flexible and typically range from two to twenty years.

This lender is a good option for deck financing because they reward their customers by offering discounts and perks. The application process is also seamless and funding is fast. They also offer a satisfaction guarantee and they plant a tree for every loan that they receive. The company is a great place to get a deck loan if you have a good, great, or excellent credit score.

Upgrade - Best for Discounts

5.94% to 35.97%
Loan Amount
Min. Credit Score
Not disclosed
Key Features
  • Funding as soon as the next day
  • Can be approved with fair credit
  • Variety of discounts on rates
Pros & Cons
  • Low credit score requirement: 560+
  • Discounts for auto pay and more
  • Check your rate quickly online
  • Origination fees charged
  • Average interest rates are higher in the rate range
  • May need to pay off debt to qualify

Upgrade is a financial technology company that focuses on online lending and banking services. It offers personal loans for home improvements, debt consolidation, and major purchases. It also offers checking accounts with cash back rewards. You can apply for a deck or porch loan online and check your rate within minutes with just a soft-pull on your credit score.


Main Features

Upgrade offers deck financing through its personal loans, specifically loans for home improvements. Loans range from $1,000 to $50,000 and loan terms are either three or five years. The minimum credit score requirement is 560 and interest rates typically range from 5.94% to 35.97%.

Upgrade is a good choice for deck financing if you want to take advantage of their borrower discounts. You can get a discounted interest rate for using one of their checking accounts and using auto pay. They offer a wide range of loan amounts and the minimum credit score requirement is on the lower side.

Best Egg - Best for Loan Resources

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
  • Tools to help keep finances on track
  • Easy to find loan resources on site
  • Check your rate quickly online
  • No credit score minimum disclosed
  • Higher loan amounts may have higher rates
  • Deck loans not available in all states

BestEgg is a lending platform that aims to make money accessible through its fast and simple personal loans. You can apply and check your rate in a few minutes without impacting your credit score. Deck loans are offered as unsecured personal loans in the home improvements category.


Main Features

A minimum credit score requirement isn’t disclosed on Best Egg’s site,but the company does check your credit, income, and employment history during the application process. Rates typically range from 5.99% to 35.99% and terms are either three or five years. Loan amounts range from $2,000 to $50,000 so if you qualify, you could use deck financing for all or part of building your new deck.

Best Egg is a good place to turn if you want deck financing that can be done quickly online with little hassle. There are two repayment terms to choose from, a wide range of loan amounts, and a plethora of loan resources, financial information, and blogs available for free on the company’s website.

How to Choose The Best Deck Financing? 

When you have decided that you want to add a deck to your house and want to use porch financing to pay for it, you will want to carefully consider all of the loan costs and requirements. Our experts used the parameters below to rank the lenders that offer the best deck financing, so you can choose the one that best suits your needs and financial situation.

When comparing deck financing, consider the following factors:

  • Loan Features - Look at loan terms, loan amounts, and loan use limitations. Can you use the loan to build a deck? Know how long you have to pay back the loan, referred to as the loan term, and know what the minimum and maximum loan amounts are. You don’t want to borrow more than what you need but you also want to borrow enough to pay for any unexpected construction costs.
  • Interest rates and fees - Considers different types of fees, and minimum and maximum interest rates. Based on your credit score, what rate will you qualify for? Compare this to what other lenders are offering. Know all the fees before accepting the loan. Fees may pop up all over including origination fees, application fees, prepayment penalties, and late fees.
  • Application process - Consider the invasiveness of the application information requirements and if you can complete the application online, over the phone, or in-person. Does the company do a hard-pull or soft-pull credit score impact? Also, find out how long the approval takes and how long the loan takes to fund. Does the lender offer any distinctively competitive offerings? For example, if you get deck financing now, and want to later apply for pool financing, will you get a better rate or discounted fees?
  • Qualification process - Know if you’re going to qualify for deck financing with a particular lender so you don’t waste your time or get your hope up. Be aware of minimum credit score, income requirements, co-signer/joint application optionality, and membership requirements. For example, most credit unions require you to be a member before your loan is accepted.
  • Customer support - Consider accessibility to a live CSR rep, the degree of multi-channel support, and the availability of supplemental information and tools. When will someone be available to answer your questions? Does their website have helpful blogs or webinars?
  • Online user reviews - Check out reviews on independent review sites like Trustpilot and see what real users are saying. Look for overarching themes. For example, if multiple customers complained about funding times, or non transparency of fees, you may want to look elsewhere.
  • Perks and Bonuses - Consider specified service offerings like payment flexibility, advertising transparency, and advanced technology. Also, see if you get discounts for setting up auto-pay or for using some of the company’s other services.

Best Deck Financing - Feature Comparison

OneMain Financial4.2
Best Egg4.3
Rocket Loans4.4
  • Est. APR - 5.49%+ 
  • Min. credit score - Not disclosed 
  • Loan Amount - Up to $50,000 
  • Loan Term - Up to 5 years 

What is Deck Financing?

Deck finance is a specialty type of financing and can fall under a few different categories. It can be found in the form of a personal loan and may be referred to as a home improvement loan or an unsecured loan. It could also be a home equity loan or a Home equity line of credit (HELOC). These loan products are based on a variety of factors including the amount of equity in your home, how long you’ve owned the home, your credit score, and overall financial profile. Deck financing provides a way to purchase the deck you want without spending all of your cash to pay for it.

How Much Does It Cost to Build a Deck?

As is the case with most purchases, the costs to build a deck vary based on the materials used, labor costs, and location. Some areas are stricter with permits than others and you may also need to factor in landscaping and clean up costs. The size and shape of your deck will affect its cost as well. A smaller, square deck will be significantly cheaper than a large deck with multiple levels and staircases. The average deck costs $7,732 to build in the United States and most people spend between $4,093 and $11,382.

How to Get Deck Financing

Follow the steps below to get deck financing:

  • Be prepared: Know your credit score, and have your identification, bank statements, proof of employment, and tax returns handy. Keep everything organized so the process is more seamless. You should also know if you’re allowed to build a deck where you are. If you live in an HOA (homeowners association) you may need their permission first. And most areas do require building permits and plans before getting started.
  • Set a budget: How much can you afford to spend on a deck? Have room in the budget for additional labor and material costs because most home improvement projects go at least a little bit over budget.
  • Compare lenders and loan products: Know what each lender offers, how many applicable loans are available, and which ones you qualify for. The lenders on our list make it easy to compare their rates, terms, minimum credit score requirements, and the minimum and maximum loan amounts offered.
  • Apply: Apply online or over-the-phone, or in person, if those options are available and preferable to you. Fill out the loan application with all of the required personal and financial information and then wait for your potential approval.
  • Get funded: Funding may be as quickly as the same day or may take more than a month depending on the type of loan you choose. The lender may give you a check, wire the funds to your account, or you may have a debit card with access to a revolving line of credit to withdraw from.
  • Enjoy: Your new deck and all the happy memories it will bring!

Deck Financing Alternatives

Besides personal loans, there are several other alternatives to deck financing.

You could consider the following:

  • Do it yourself (DIY): Build the deck yourself or with some help from neighbors
  • Forego the deck: Purchase a cheaper alternative such as an outdoor cabana or premade gazebo
  • Borrow the money: Borrow from fiends, family, or neighbors
  • Fund it yourself: Use your own savings, cash, or sell stocks to pay for the new deck
  • Save on materials: Sometimes you can find lumber yard scraps or 2 x 4s that weren’t needed at a discounted price
  • Use a home equity loan: Borrow against the equity that you have stored up in your home. You can borrow a percentage of the equity and receive it as a lump sum to fund your deck purchase. This loan is also referred to as a second mortgage and generally functions as such.
  • Use a Home equity line of credit (heloc): This option also allows you to borrow against the equity in your home, but it operates more like a credit card. You get access to a revolving line of credit and can make withdrawals during the draw periods.
  • Borrow against your own money: Some banks and credit unions will let you borrow against what you already have in the bank and pay it back at a low interest rate


Deck financing can help you build the deck that will complete your backyard. The best deck financing offers multiple types of loans with competitive interest rates, transparent fees, and flexible loan terms. They also have fast funding times and easy application processes. Deck financing is a good option if you want the deck but don’t want to pay for it all with you own money.

Frequently Asked Questions(FAQ)

How do you get money for a deck?

You can get money for a deck from a variety of sources. You can, of course, use money you already have saved, or you can tap into your home equity and borrow the money to finance the deck. Additionally, you can get a personal loan from an online lender and use it to build your deck.

Can you finance a deck?

The short answer is yes, you can finance a deck. However, you will need to meet the lender’s qualifications first. These may include a minimum credit score requirement, a solid employment history, a low debt-to-income ratio, and enough income to be able to afford the monthly payments.

Can home equity finance a deck?

Home equity can certainly finance a deck if you qualify for the loan and have enough equity in your home. Home equity loans and HELOCs are designed to be used for home improvements and a deck is considered a home improvement. You can get one of these loans from an online lender, a credit union, or a bank.

Is adding a deck a good investment?

Adding a deck is considered a good investment. Typically, a wood deck will recover 106% or more of its cost once the home is sold. The deck will be a good financial investment but it can also be a good emotional investment by providing hours of outside enjoyment for the people who use it. However, keep in mind that there will be some upkeep involved. You may need to stain it every few years, sand down spintery areas, and possibly even weatherproof it if you live in an area with harsh weather. Other costs will include adding furniture and decor to the deck if you choose to do that.

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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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