A lightweight finish composition, method of production and a method of application are provided. The lightweight finish composition comprises a resin dispersion or emulsion, alkali metal phosphate, alkylolammonium salt of a polyfunctional polymer, and lightweight aggregate such as silica spheres. The lightweight aggregate has a density and weight that is less than those of sand. The combination of alkali metal phosphate and alkylolammonium salt of a polyfunctional polymer stabilizes the lightweight finish composition and may prevent the lightweight aggregate from continuously absorbing water over time, after production of the lightweight finish composition.