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In vitro fertilization, also referred to as IVF, is a fertility treatment that comes with high costs.
If you’re considering IVF treatment, there are some financing options available, including IVF loans, credit cards, clinic financing, and more. You can compare these options below to make sure you find the best option.
On this page:
Find a Personal Loan for IVF Treatment Expenses
Coming up with thousands of dollars for IVF isn’t easy, but personal loans — some times called IVF loans in cases of infertility — are one way to get the funding you need.
An IVF loan is a loan where you borrow a fixed amount of money for a pre-determined time period. These loans are paid back in installments — usually on a monthly basis — and you receive the entire borrowed amount up front after you’ve applied and agreed to certain terms.
Some lenders specifically market IVF loans. However, general-purpose personal loans can be used for anything you want, including IVF, IUI, and other medical interventions aimed at helping you build a family.
An IVF Loan Program That Provides Support
|Future Family IVF Loan|
|Fees||$799 Premium Membership|
|Support||A dedicated Fertility Coach available via video, text, and phone|
|Medication Discounts||15% on IVF medications|
|Interest Rates||8% – 15%|
Future Family is a company that provides IVF financing options designed to provide families with all the support they need along their journey. This support comes in the form of on-demand access to a Fertility Coach.
Future Family says that their financing plan offers:
- Lowest rates on IVF loans
- Lowest monthly payment plan
- Exclusive discounts on medications and lab work
- Most flexible term
If you are interested in learning more or getting started, you can head over to Future Family here.
Eligibility and Applying for a Personal Loan
To get a personal loan at the best rates, you’ll need good credit. But there are also lenders such as Upstart and LendingPoint that provide funds to people with imperfect scores or to borrowers still building their credit.
The interest rate you’ll pay will vary by lender and is largely based on your credit score, as well as other financial factors. Most lenders will need you to provide proof of income so they can ensure you’ll repay your loan.
Some lenders will take a few days to review your documentation and finalize your application, while others do so within hours.
>> Read More: Personal Loans for Bad Credit
Benefits of IVF Loans
Using IVF loans can have many advantages. Some benefits include:
- The ability to borrow a large amount of money. You can take out loans for up to $100,000 or more with some lenders. The ability to borrow a lot is important because IVF is so expensive. If you applied for a credit card, you might not get a large enough line of credit.
- Relatively low interest rates. If you’re a well-qualified borrower, you’re likely to receive competitive interest rates on personal loans. Rates are usually well below credit card interest rates, which makes paying off your loan more affordable.
- A set repayment timetable: You know upfront exactly how long you’ll have to pay off your loan, so it’s clear how long it will take you to become debt-free. And if your loan has a fixed rate, you’ll also have the certainty of knowing exactly what your total monthly payments and total loan costs will be.
- Unsecured loans: Most personal loans do not require any collateral. If you take out other types of loans, such as a home equity loan, you will need to use your house as collateral—which means you put your home at risk of being lost in the event you can’t repay your loan.
- Flexibility in funding: You can get a personal loan from a lender of your choosing, choose your loan term, and have the ability to use the money when and how you want.
Downsides of IVF Loans
There are also downsides to consider when taking out IVF loans, including:
- You may still pay a lot of interest: Although the rates on some personal loans are relatively low, other loans have high rates topping out at 30% interest. And even with low-interest loans, you could still pay thousands of dollars in interest over time—especially if your loan has a long repayment period.
- Some loans have origination fees: Depending upon your lender, you may have to pay an upfront fee for your loan. This can mean big costs and having to pay back the money you paid out as fees.
- Not everyone can qualify for a personal loan: If you can’t qualify based on your credit or income, you won’t have the option to get a personal loan.
Alternative IVF Financing Options
If you don’t want to take out a personal loan or can’t qualify for one, you have a few other options, including the following.
Your IVF clinic may allow you to charge your services on a credit card. If you already have a card open with available credit, this option could be quick and simple. You could also apply for a credit card with a 0% promotional APR on purchases for a set time after the card is open. A 0% APR card could potentially give you up to 15 months to pay for the IVF cycle you charged, depending upon the card’s terms.
If you can’t qualify for a 0% APR, you should know that the high interest rates most cards charge can mean you’ll pay a lot of interest when you borrow for IVF. And if you max out your credit card to pay for your fertility treatment, you will hurt your credit score, because you need to keep your credit utilization ratio below 30% to get the best score.
Some clinics offer financing for IVF. Often, this is done through a partnership with third parties. Using clinic financing can simplify the borrowing process because you won’t have to find a separate lender and wait for funds. Some clinics offer special rates, such as 0% interest for a certain time or financing at a low rate. This could make your loan affordable.
Specialized medical loans are also available through many lenders, including LightStream. Depending upon the lender, the rates and terms will often be similar to personal loans. These loans are typically unsecured, and you can pay back what you’ve borrowed over several years.
Bottom Line: IVF Financing Is Available
Don’t give up your dream of having a family because of the high costs of IVF treatment. You have plenty of options for IVF financing, including IVF loans, credit cards, and more.
Just make sure you shop around among the best personal loan lenders, your clinic, local banks, credit unions, and other providers of medical and personal loans to find the best fertility financing for your needs.
*Payment example: Monthly payments for a $10,000 loan at 9.34% APR with a term of 3 years would result in 36 monthly payments of $319.58. LightStream disclosures here.
Author: Christy Rakoczy
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