Alternatives to IVF Loans
In some circumstances, borrowing any money at all may not be the best thing for our families. If this is the case, then we might consider alternative sources of financing. Finding repayment free funding is never easy, but often the search can be worth it.
Grants and Scholarships
Although the applications can sometimes be long and tedious, some non-profit funds are willing to give money for fertility treatments. A little internet searching can find several results. Some grants are limited to people living in a specific area or other criteria, so it’s worth making sure you qualify before spending time on the application. Practically free money sounds great, but there are drawbacks to this route. There is often an application fee that needs to be paid, and many grant providers will expect the recipient to appear in promotional material. These grants rarely cover all expenses, but can certainly help if you have some other financing available.
Whether we want to ask others for money and how public we want to make the request is a personal decision. If this is something we are comfortable with, then setting up a crowdsourcing account can be a great way to finance fertility treatments. With a little publicity, this can allow family, friends, family, and even strangers to contribute towards the costs.
Top 2 fertility loans
Undergoing fertility treatment in order to get the family you’ve always wanted is a tough ordeal for couples. The chances of it failing are often quite high and the costs are typically exponential. Knowing where to turn to fund your fertility treatment is important because there are too many lenders out there that are looking to capitalize on your desperation. We can’t all afford this treatment upfront after all and many of us are forced to turn to banks or fintech companies as a way to get the much-needed funding.
SoFi is one of the most popular lenders out there because it offers realistic levels of interest and favorable terms. There are no hidden charges to worry about, either. That means no origination fee and no late penalties. If you want to pay off your loan early, you don’t have to worry about having to pay prepayment fees on top of the amount you borrowed. APR starts at just 5.99% and you can borrow up to $100,000.
LendingPoint is trusted by more than seven billion Americans that need help with financing, whether it’s to pay off a mortgage or to pay for highly expensive fertility treatment. So far, the company has lent out almost $2 billion to people across the US, so it’s a great option for people who need quick approvals and payouts, like those who have fertility treatment costs to cover. You can get financing of up to $25,000 and checking to see whether you’re eligible won’t harm your credit score whatsoever.
With LendingPoint, you could receive your loan as soon as the next business day. Just fill out the fast and easy online application form and you’ll have a decision within minutes. APR starts at 9.99% and terms can last anywhere between 24 and 48 months, whatever a borrower prefers. There are no prepayment penalties and nearly all people are eligible since LendingPoint is prepared to work with borrowers that have credit scores as low as 585.
Infertility & IVF Financing with Bad Credit
Facing the costs of infertility treatments can be difficult. But this is even harder for those of us without a good credit score. It is not, however, impossible to find a fertility loan for IVF financing.
When searching for a loan, we should take our time and find the best lender possible. Several online loan companies specialize in such loans. These lenders tend to offer financing at a higher rate of interest, so it is worth looking around for the best deal before accepting any offer.
It is also worth considering peer-to-peer lending. These lenders are usually individuals who are willing to offer loans. They set their interest rates, which are generally lower than the mainstream finance companies. While our credit history will be taken into consideration, a peer-to-peer lender can use their discretion rather than a three-digit score to make a decision.
Some lenders specialize in helping those in need of fertility procedures and offer a more favorable interest rate on a loan for that purpose. As always, it will take a little time and research to find the right lender, but the effort may well pay off in the longer term.
When faced with the need to undergo IVF cycles or other fertility treatment, the associated costs can be overwhelming at first. It is important to take time and consider all the options before taking on a financial burden that will be with us long after the procedures are over. If we are undergoing IVF cycles, it is worth remembering that it could take more than one cycle to be successful. At an average cost of $12,500 per cycle that can quickly add up to a large fertility loan repayment. Research is our friend here. We must take the time to look around for the best fertility financing option or loan available. Entering a fertility treatment plan can be stressful enough. By making the right financial decision, we can concentrate on becoming pregnant and enjoying our future family as soon as possible.