According to FertilityIQ, the fertility research and
education website, a single cycle of IVF treatment is usually around $23,474. If your health insurance plan
doesn’t pay for IVF or you don’t have health insurance at all, you’ll have to pay
tens of thousands of dollars to take advantage of this life changing treatment.
Unless you have a lot of cash at your disposal, IVF loans will come in handy.
Our team of financial experts reviewed and ranked more than 30 online lenders
to help you get funded.
Updated on
Best IVF Loans
Infertility affects about 1 in 8 couples. If you’re facing infertility, you might need in vitro fertilization (IVF) to help you get pregnant. Since IVF isn’t usually covered by insurance, you may have to pay high out-of-pocket costs to cover this treatment.
Written by:Anna Baluch
Our Top Picks for Best IVF Loans
- No origination, prepayment, or late payment fees
- Joint applications accepted
- Offers .25% discount for autopay
- Borrowers up to $100,000
- Funding as soon as the next day
- Can be approved with fair credit
- Variety of discounts on rates
- Wide range of loan amounts available
- Fast application process
- Direct payments to creditors as an option
How to Choose the Best IVF Loan
There is no shortage of IVF loans available. Each one has
its own unique features, making it important to compare all your options. While
ranking the best IVF loans of 2022, our experts focused on the following factors.
- Loan Features: Loan amounts, terms, and repayment plans vary
from lender to lender. If you’d like to cover all or most of the cost of IVF,
large amounts, lengthy terms, and flexible repayments are essential.
- Application process: Since it takes a lot of time and energy
to go through the IVF process, an easy application you can complete in minutes
is preferred. A prequalification option that allows you to check your offers
without any impact to your credit score can also come in handy.
- Interest rates and fees: Ideally, you’d choose loans that
offer low interest rates and minimum to no fees. By doing so, you can lower the
overall cost of your already expensive IVF treatment.
- Qualification process: Some IVF loans cater to borrowers
with good credit while others are more lenient and willing to lend to those
with fair or bad credit. Since we believe everyone should be able to pursue IVF
if they wish to, regardless of their credit standing, we looked at both
options.
- Customer support: Since IVF loans usually come with long
terms, we prioritized those with easy access to customer support should you
ever need it. It may be available via phone, email, live chat, or resources on
the lender’s website.
- Online user reviews: Third-party reviews and ratings on
sites like Trustpilot and Better Business Bureau (BBB) provide an unbiased look
at the lender’s reputation and track record.
- Perks and Bonuses: In addition to funding, some IVF loans
offer perks like hardship assistance, mentoring, and credit score monitoring.
Best IVF Loans for 2022 - Full Overview
1. SoFi: Best for Lower Rates
Pros
Cons
SoFi personal loans range from $5,000 to $100,000 with repayment terms of 2 to 7 years and interest rates between 6.99% to 21.78%. You need a credit score of at least 680 and must be currently employed or have a job offer that starts within 90 days.
The Bottom Line
For low-interest IV financing, a SoFi loan can be a solid choice, especially if you have good credit.
Try SoFiRead more in the full SoFi review.
2. Upgrade: Best for Bad Credit
Pros
Cons
Upgrade offers loans that range from $1,000 to $50,000 with terms of 2 to 7 years and interest rates of 5.44% to 35.47%. The minimum credit score requirement is 560 and you need at least two accounts on your credit history as well as a debt-to-income ratio of no more than 75%.
The Bottom Line
If you’d like an IVF loan but don’t have the best credit, an Upgrade personal loan can meet your needs.
Try UpgradeRead more in the full Upgrade review.
3. Best Egg: Best for Online Prequalification
Pros
Cons
Best Best Eggs loans range from $2,000 to $50,000 with terms of 3 or 5 years. Interest rates are between 5.99 and 35.99%. The lender requires a minimum credit score of 600, an annual income of at least $3,500, and a debt-to-income ratio of no more than 40% or 65%, including a mortgage.
The Bottom Line
If you’d like the chance to prequalify for an IVF loan before you fill out a formal application and commit to it, Best Egg is worth exploring.
Try BestEggRead more in the full BestEgg review.
4. LendingPoint: Best for Early Payoff
Pros
Cons
LendingPoint offers loans between $2,000 to $36,500 with rates ranging from 9.99% to 35.99% and repayment terms from two to five years. You must have a minimum credit score of 580 to get approved and can pay off your loan early without penalty.
The Bottom Line
A LendingPoint loan is best if you want to repay your IVF loan ahead of your agreed upon term and lower your overall cost of borrowing.
Try LendingPointRead more in the full LendingPoint review.
5. LightStream: Best for Repayment Flexibility
Pros
Cons
LightStream loans range from $5,000 to $100,000 with terms of 2 to 7 years and rates between 4.99% to 19.99%. The lender requires a minimum credit score of 660 and at least several years of credit with a strong history of on-time payments. .
The Bottom Line
If you’d like to choose from a variety of terms for your IVF loan, LightStream should be on your radar.
Try LightStreamRead more in the full LightStream review.
6. PenFed: Best for Small Loan Amounts
Pros
Cons
PenFed offers personal loans between $600 and $50,000 with repayment terms that range from 1 to 5 years. Interest rates are from 4.99 to 17.99%. While the lender does not disclose any minimum credit score requirements, you do have to join PenFed to take out a loan. This will require you to open a savings account with a minimum $5 deposit.
The Bottom Line
A PenFed loan is best if you’re in need of a small IVF loan with minimal fees.
Try PenFedRead more in the full PenFed review.
7. Freedom Plus: Best for Applying with a Cosigner
Pros
Cons
FreedomPlus loans go from $7,500 to $50,000 with terms of 2 to 5 years. Interest rates range from 7.99% to 29.99%. The qualification requirements are a credit score of at least 600 and a debt-to-income ratio of no more than 45%
The Bottom Line
FreedomPlus personal loans can be a good option if you would like to apply for an IVF loan with a cosigner and strengthen your application.
Try FreedomPlusRead more in the full FreedomPlus review.
8. OneMain Financial: Best for Fast Funding
Pros
Cons
OneMain Financial loans range from $1,500 to $20,000 with repayment terms of 2 to 5 years and interest rates between 18.00% to 35.99%. While the lender doesn’t disclose any hard credit requirements, it does state that it uses a proprietary underwriting system to review your credit information and focuses on your repayment ability.
The Bottom Line
OneMain Financial is ideal if you’re in search of a flexible IVF loan with same-day funding, especially if you don’t have a stellar credit score.
Try OneMainRead more in the full OneMain review.
Best IVF Loans - Feature Comparison
Company Name | Est. APR | Min. credit score | Loan Amount | Loan term |
SoFi | 6.99%–21.78% | 680 | $5,000–$100,000 | 2-7 years |
Upgrade | 5.44-35.47% | 560 | $1,000-$50,000 | 2-7 years |
Best Egg | 5.99-35.99% | 600 | $2,000-$50,000 | 3 or 5 years |
LendingPoint | 9.99% to 35.99% | 580 | $2,000 to $36,500 | 2-5 years |
LightStream | 4.99-19.99% | 660 | $5,000-$100,000 | 2-7 years |
PenFed | 4.99-17.99% | None | $600-$50,000 | 1-5 years |
Freedom Plus | 7.99% to 29.99% | 600 | $7,500 to $50,000 | 2-5 years |
OneMain Financial | 18.00-35.99% | None | $1,500-$20,000 | 2-5 years |
Who should get an IVF loan?
If a doctor has diagnosed you or your partner with any of
the following conditions and recommended IVF, you may be a good candidate for
an IVF loan:
- Serious endometriosis
- Blocked fallopian tubes
- Low sperm count
- Unexplained infertility
An IVF loan might also be worth exploring if you’re using
donor sperm or eggs or will be using the help of a gestational carrier or
surrogate.
Types of IVF Financing
There are a number of ways you can finance IVF treatment,
including:
Online Personal Loans for IVF
Online personal loans are a common way to pay for IVF. Upon
approval, you can receive a lump sum of money upfront. You’ll repay it over
time via fixed monthly payments over an agreed upon term, which can range from
two to seven years.
When it comes to interest rates, they vary based on your
credit score and borrowing amount. The lowest rates are reserved for those with
the best credit. While you can typically borrow anywhere from $1,000 to
$50,000, some lenders offer online personal loans up to $100,000.
Credit Union Loan
Credit union loans make sense if you’re already a member of
a credit union or don’t have the best credit history. Most credit unions offer
loans with low interest rates and flexible terms to their members. They’ll look
beyond your credit and consider your reputation as a member when they review
your application. Credit union loans are also known for personalized, in-person
service.
Home Equity Loan and HELOC
With a home equity loan, you can borrow against the equity in
your home, which is the difference between what you owe on your mortgage and
what your home is currently worth. If you have anywhere between 10% and 20%
equity, you may get approved for a home equity loan.
Since home equity loans are tied to your home and a lender
will have the right to put it into foreclosure if you default on your payments,
you can expect low rates and attractive terms. While a home equity loan will
give you a lump sum of money upfront, a HELOC is a revolving line of credit you
can pull funds from, up to a set credit limit.
Fertility Specialist Loan
Some lenders that offer IVF loans partner with fertility
clinics and healthcare providers. To apply for a fertility specialist loan,
you’ll need to pay an application fee. Upon approval, the funds will go
directly to the fertility clinic you’re working with for IVF rather than into
your personal bank account. CapexMD and ARC Fertility are two examples of
lenders that offer IVF loans and organize IVF financing between fertility
clinics and patients.
Credit Card
While there are many credit cards you can use to cover the
cost of IVF, 0% interest cards are a good option if you know you can repay your
balance before the intro period of anywhere between 12 to 21 months comes to an
end. With a 0% interest card, you can slowly but surely repay your IVF costs
without interest.
If you don’t believe you’ll be able to pay off your balance
in time, you may want to pursue a different option as you’ll likely be charged
a sky-high interest rate once the intro period is up. You can also consider
medical credit cards, which often have low or no interest charges for a
specific time period and are specifically designed to help pay for medical
expenses like IVF.
HSA or FSA
Health savings accounts, or HSAs, and flexible spending
accounts, or FSAs can help you save tax-exempt money to pay for qualified
medical expenses, which may include IVF treatment. The caveat, however, is
these accounts have annual contribution limits. For 2022, the maximum HSA
contribution limits are $3,650 for an individual and $7,300 for family
coverage. The maximum FSA contribution limit for 2022 is $2,850. Since these
limits are lower than the cost of IVF, you will need to find other ways to fund
the rest of your treatment.
IVF Grants
Fortunately, there are many IVF grants offered by a variety
of organizations and foundations. Since they don’t need to be repaid, they’re
worth exploring and applying for. Some of the most common IVF grant resources
include:
- Find a Grant - CoFertility: You can use this database to
find grants, donated services, and discounted medications for your IVF journey.
There are plenty of state-level and national opportunities listed on this free
resource. Just select your state to find out which ones you may be eligible
for.
- BabyQuest Foundation | In Vitro Fertilization Financial Aid:
Baby Quest Foundation provides a variety of fertility grants to those who
cannot afford the high costs of procedures like IVF, gestational surrogacy, egg
and sperm donation, egg freezing and embryo donation.
- Footsteps for Fertility Foundation: Footsteps for Fertility
works with several fertility clinics to provide funding gifts. It provides
grants of $10,000 per grant and $5,000 in cash grants.
- Coalition for Family Building: The Coalition for Family
Building offers IVF grants from its partner practices. It’s a great option if
you don’t have insurance coverage and plan to pursue IVF with your own eggs.
- Tinina Q. Cade Foundation: The Tinina Q. Cade Foundation’s
Family Building Grant is an annual award that provides up to $10,000 to those
with infertility who demonstrate financial need. These grants are cash awards
that are sent directly to each recipient’s fertility clinic. The organization offers medication awards as
well.
Crowdfunding
If you feel comfortable publicly sharing your infertility
story, crowdfunding can be a great option. You can use a website like GoFundMe
to collect donations from people who support your IVF treatment. You’ll be able
to set a goal and won’t have to pay any fees to collect the funds. Even if you
raise a little bit of money through crowdfunding, you can lower the costs of
transportation, copays, pricey medications, and more.
How to Apply for an IVF Loan
While the process can vary slightly from lender to lender,
there are basic steps you’ll need to follow to apply for an IVF loan.
- Check Your Credit: Before you begin the application process,
you should know where you stand credit wise as most lenders will consider your
credit when they decide whether to approve you for an IVF loan. You can visit
FreeCreditReport.com to pull copies of your reports from Experian, Equifax, and
TransUnion for free. If you notice any errors or inaccuracies, dispute them
with the appropriate bureau. Also, if your credit isn’t where you’d like it to
be, focus on improving it. If you don’t have time because you want to start IVF
as soon as possible, don’t worry. There are many lenders with lenient credit
criteria.
- Prequalify: Once you know what your credit looks like and
what types of IVF loans you may be eligible for, prequalify. By doing so, you
can explore various financing offers without any impact to your credit score.
When you prequalify, you’ll need to provide basic information, like how much
you want to borrow, how you’ll use the funds, your annual income, and the last
four digits of your Social Security number. It’s a good idea to prequalify with
at least three lenders.
- Compare Loan Offers: Next, it’s time to compare the various
IVF loan offers you received. When doing so, consider borrowing amounts, terms,
interest rates, fees, and perks. You may also want to read lender rankings and
reviews, especially if you’re stuck between two options.
- Apply: Then, choose the best loan offer for your unique
situation and go through the formal application process. Fortunately, most
lenders will allow you to apply online within minutes. To apply, you’ll need to
share a number of personal and financial details. You may also be required to
submit documents like a government-issued ID, pay stubs, tax forms, and bank
statements.
Tips for IVF Financing
While exploring IVF financing options, keep these tips in
mind.
Understand How Much IVF Costs
A single cycle of IVF costs is usually around $23,474. Be
sure to ask your fertility clinic for a clear list of what you can expect to
pay so you know exactly how much funding you may need.
Be Realistic About Your Budget
You want to make sure that you can comfortably afford the
IVF loan you take out. Do the math and calculate what type of payments you’ll
be able to make without stretching your budget too far.
Take Changing Expenses Into Consideration
Remember that when your baby is born, you’ll have additional
expenses. Keep this mind when you consider your budget and how much you can
afford to spend on IVF financing.
Turn Your Dream of Parenthood Into a Reality with an IVF
Loan
IVF is a revolutionary medical treatment that can help you
become a parent. Whether you’re already a parent or dreaming of the day you
have a little one, IVF loans may be just what you need to alleviate the
financial burden of the treatment and set yourself up for a happy, fulfilling
future.
Frequently Asked Questions (FAQ)
What’s the best way to pay for IVF?
The ideal way to pay for IVF depends on your unique budget
and needs. While online personal loans make sense for some couples, others are
better off using credit cards, home equity loans, or crowdfunding. Regardless
of your situation, you should apply for IVF grants that you won’t have to
repay.
How do IVF loans work?
With an IVF loan, a lender will give you a lump sum of money
to help pay for part of or all of the treatment. The amount you can borrow,
interest rate, and term will likely be based on factors like your credit score,
income, and employment situation. Unsecured IVF loans are a predictable way to
pay for IVF treatment and don’t require you to put your assets on the line.
What does an IVF loan cost?
If you do pursue an IVF loan, you may have to pay some fees
in addition to interest. The most common fees include application fees and
origination fees. Some lenders also charge late fees and prepayment penalties.
Before you sign on the dotted line and commit to a financing option, make sure
you’re clear on its total cost.
Are there low interest IVF loans available?
There are IVF loans with low interest rates. To qualify for
them, however, you’ll need strong credit and sufficient income. A low interest
IVF loan can potentially save you hundreds or even thousands of dollars on the
overall cost of your treatment.
Who offers IVF loans?
IVF loans are offered by a variety of online lenders,
including SoFi, Upgrade, Best Egg, LendingPoint, LightStream, PenFed, Freedom
Plus, and OneMain Financial. You can also find them through fertility
specialists that partner directly with fertility clinics to provide financing
for their patients.
How can I get an IVF loan with bad credit?
Fortunately, you can get approved for an IVF loan, even with
a low credit score. Just keep in mind that you may have to settle for a high
interest rate or many fees. If you have bad credit, shop around and compare
your options so you can find the most affordable loan for your particular
situation.
Do fertility clinics provide IVF financing?
Most fertility clinics offer payment plans, which will break
up the cost of IVF into installments you’ll repay over a certain time period,
like 12 to 24 months. Some clinics also partner loan companies and offer
financing directly through them. Ask your fertility clinic for details on their
financing options.
