I recently noticed my coolant level low so I started looking around and noticed some coolant on the lower radiator hose. Im being told it could be that the water pump is gone. How big of a job would it be to change that out?

 

I don't think it would be that hard for you.
Drain out the coolant, I think you have to take out the fan assembly. Then use a socket wrench to relieve tension on the drive belt, under the alternator. Take off the water pumps pulley. There's a heater hose and an electrical connection that come off the pump, unhook them, unbolt it and it's off. Messy and sticky maybe but I'm sure you can handle it.

 

They pretty much summed it up for you. Make sure you don't over tighten the bolts going into the front cover. You can borrow the fan tools from a auto zone or the like for free. I would suggest going with an OEM water pump as the "lifetime" pumps seem to not last long.

Riffraff Diesel: OEM Powerstroke Water Pump

 

Thanks got it all changed out and looks like it cured my leak. Wasnt to bad of a job.