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IVF Loans: Financing Programs And Payment Plans Available

angelawatson
Angela Mae Updated: August 31, 2023 • 6 min read
IVF LOAN PROCESS

In vitro fertilization (IVF) is an expensive procedure that costs anywhere from $10,000 to $15,000, on average. Some health insurance providers cover all or part of the cost of the procedure. However, many plans do not cover assisted reproduction at all since it’s not considered essential healthcare. Fortunately, there are several financing programs, payment plans, and IVF loans available to assist with these costs.

With financing, many people who could not otherwise afford such high out-of-pocket expenses can still choose in vitro fertilization. For many, this could mean the difference between starting a family and not.

What Is IVF?

IVF stands for in vitro fertilization. This is a complex fertility treatment that helps people become pregnant through assisted reproductive technology. It is most effective in those who are under the age of 35.

People typically choose IVF to help them conceive a child due to reasons such as:

  • Fertility issues (ex. low sperm count or advanced maternal age)
  • Desire to avoid passing on a genetic health condition
  • Starting a family with someone of the same sex
  • Interest in having a child without a partner

The procedure works by taking a mature egg and fertilizing it in a lab. A few days later, the fertilized egg is put inside a uterus. The entire process can take several weeks or so from beginning to end. This includes everything from the initial consultation to removing the egg to testing for pregnancy.

Since IVF is expensive, many patients turn to different forms of financing to pay for it. The most common financing options are:

  • IVF grants
  • HELOC (home equity line of credit)
  • Personal loan (from a bank, credit union, or online lender)
  • Fertility specialist loans or IVF loans
  • Low-interest credit card

Best IVF Loan Providers

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SoFi

Low Rates. No Fees are Required.

680

Min Credit Score

8.99-29.99%

APR. Fixed Rate

8.99-29.99%

APR. Variable Rate

$5K-$100K

Loan Amount

24 to 84 months

Repayment terms

Yes

Soft Credit Pull

Direct

Lender Type

None

Other Fees

None

Origination Fee

None

Prepayment Fee

Same-day funding if approved before 7:00 PM ET days

Funding Time

Pros & Cons

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  • con-icon Personal loan application process is easy and only takes a few minutes to complete
  • con-icon Soft credit check that doesn’t affect your credit score and gives you personalized rates
  • con-icon Fixed and variable rate loans available ranging from $5,000 to $100,000
  • con-icon No late or origination fees required
  • con-icon Excellent customer support team
  • con-icon Online autopay comes with a discount on interest
  • con-icon Exclusive benefits for members (ex. networking events and access to financial advisors)
  • con-icon Unemployment Protection feature comes with a temporary payment pause (up to 12 months)
  • con-icon No prepayment penalties
  • con-icon May take up to 4 days to receive funds after approval (longer than other online lenders)
  • con-icon High eligibility requirements (ex. good credit and sufficient income)

Loan Purpose

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  • Credit Card Refinance
  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Relocation
  • Vacation
  • Wedding

Loan Type

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  • Unsecured Personal Loans

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5KFunds

Fast & easy online application

500

Min Credit Score

5.99-35.99%

APR. Fixed Rate

5.99-35.99%

APR. Variable Rate

$500-$35K

Loan Amount

3-72 Months

Repayment terms

No

Soft Credit Pull

Marketplace

Lender Type

N/A

Other Fees

Varies

Origination Fee

Varies

Prepayment Fee

Varies no. of days

Funding Time

Pros & Cons

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  • con-icon Quick & simple online application
  • con-icon An extensive network of lenders
  • con-icon Use your loan for any purpose
  • con-icon Not BBB Accredited; F rating on BBB
  • con-icon Loans may contain origination fees
  • con-icon Highly thorough initial application

Loan Purpose

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  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Household Expenses
  • Relocation
  • Vacation
  • Wedding
  • Other

Loan Type

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  • Secured Personal Loans
  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans
  • Variable-Rate Personal Loans
  • Co-singer / Joint loans

660

Min Credit Score

7.99-25.49%

APR. Fixed Rate

$5K-$100K

Loan Amount

2-7 years

Repayment terms

No

Soft Credit Pull

Direct

Lender Type

None

Other Fees

None

Origination Fee

None

Prepayment Fee

1 days

Funding Time

Pros & Cons

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  • con-icon Get a loan for practically anything
  • con-icon Autopay discount available
  • con-icon Dedicated app to manage your loan
  • con-icon LightStream doesn’t charge any fees
  • con-icon Personal loan up to $100K
  • con-icon Requires steady income
  • con-icon 1-3 Days till funding

Loan Purpose

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  • Car
  • Major Purchase
  • Household Expenses
  • Vacation
  • Wedding
  • Other

Loan Type

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  • Secured Personal Loans
  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans
  • Variable-Rate Personal Loans

600

Min Credit Score

8.99-35.99%

APR. Fixed Rate

8.99-35.99%

APR. Variable Rate

$2K-$50K

Loan Amount

36-60 months

Repayment terms

Yes

Soft Credit Pull

Direct

Lender Type

Yes

Other Fees

0.99-8.99%

Origination Fee

Undisclosed

Prepayment Fee

1-3 days

Funding Time

Pros & Cons

drop-down-btn
  • con-icon Soft credit pull for pre-approval
  • con-icon Funding could arrive in 1 day
  • con-icon Application takes a few minutes
  • con-icon APR presented past pre-approval
  • con-icon Credit score criteria not clear
  • con-icon Loans require an origination fee

Loan Purpose

drop-down-btn
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Relocation
  • Vacation
  • Wedding
  • Other

580

Min Credit Score

9.95-35.99%

APR. Fixed Rate

9.95-35.99%

APR. Variable Rate

$2K-$35K

Loan Amount

12 to 60 months

Repayment terms

Yes

Soft Credit Pull

Marketplace

Lender Type

Yes

Other Fees

Undisclosed

Origination Fee

Undisclosed

Prepayment Fee

1 days

Funding Time

Pros & Cons

drop-down-btn
  • con-icon Easy, fast application process
  • con-icon Funds are disbursed quickly
  • con-icon Builds personal credit
  • con-icon High fees and interest charges
  • con-icon No co-signed, joint, or secured loan option
  • con-icon No rate discount for automatic payments

Loan Purpose

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  • Debt Consolidation
  • Home Improvement
  • Medical Expenses
  • Other

Loan Type

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  • Secured Personal Loans

Why does IVF cost so much?

The main reason why in vitro fertilization costs so much is the complexity of the procedure. Common fees associated with the overall cost include:

  • Initial consultations
  • Genetic and diagnostic testing
  • Surgical procedures (ex. sperm or egg extraction)
  • Prescription medications
  • Anesthesia
  • Geographic location (IVF tends to cost more in bigger cities)

IVF typically costs $10,000 to $15,000 per treatment session. This does not include any additional fees not covered by insurance. Some clinics charge up to $25,000 for the entire procedure, including medications and testing. Medication alone can cost around $4,000, depending on type and dosage.

Many people have to undergo two to six rounds of treatment before they’re successful, which can radically increase the cost. Even if they can afford the first round on their own, they may need financing to help cover additional ones.

Certain states, including Texas and California, have laws that require health insurance providers to cover IVF. However, the health plan may not cover everything related to the procedure, such as specific treatments or medications.

Before choosing IVF, consider the total costs and make a financial plan. Certain options, such as IVF loans, infertility loans, or grants, can make the procedure much more affordable. Try to prepare as much as possible for the best results.

How to Get Medical Loans for IVF

If you are considering undergoing in vitro fertilization (IVF) but are concerned about the cost, there are several IVF loan options available to help you finance the procedure. One popular option is a medical loan for IVF, which is specifically designed to cover fertility treatments.

Here are some steps to get a loan for IVF:

  1. Research lenders: Check out the various lenders that offer loans for IVF, such as those mentioned on the Lendstart blog. Make sure to compare their interest rates, terms, and eligibility requirements to find the best fit for you.
  2. Check your credit score: Your credit score plays a significant role in your loan application process, affecting your eligibility and interest rates. You can check your credit score online.
  3. Gather your financial documents: Lenders will need your financial documents, such as tax returns, pay stubs, and bank statements, to evaluate your loan application.
  4. Apply for the loan: Once you have chosen a lender and gathered your financial documents, you can apply for a loan. Make sure to fill out the application completely and accurately to increase your chances of approval.
  5. Consider payment plans: Some fertility clinics also offer payment plans that allow you to pay for your IVF treatment in installments. Be sure to inquire about these options and see if they are available to you.

It's important to remember that IVF loans and payment plans can vary in terms of interest rates and repayment periods. Be sure to thoroughly research and compare your options before making a decision.

How to Pay for In Vitro Fertilization (IVF)

When it comes to IVF financing, there are several options, including:

  • IVF Personal loan: This is a personal loan that can cover the costs of IVF treatments. These loans are usually available through online lenders and those specializing in financing fertility treatments and procedures. Some lenders, such as CapexMD, also offer IVF loans with bad credit.
  • Personal loan: Personal loans can help with the IVF process and other medical needs. They are ideal for those who need funding quickly and have good credit or better (670+ FICO score). The APR typically ranges from around 6% to 36%. Terms are usually up to 7 years and require monthly payments. Many online lenders, banks, and credit unions offer these loans.
  • Fertility specialist loans: These infertility loans are usually available through lenders that partner with a specific fertility clinic or healthcare provider. These lenders may charge additional fees, such as an application or origination fee. Approval is typically based on credit score, income, and debt-to-income ratio (DTI).
  • IVF grants: Some charitable organizations and foundations, such as Nest Egg Foundation and Baby Quest Foundation, offer full or partial grants. Eligibility is based on things like income, location, and insurance provider. Grants often come with deadlines and may have an application fee.
  • HELOC or home equity loan: Homeowners with home equity may be able to refinance their home with a HELOC or home equity loan to pay for in vitro fertilization. The main downside is that failing to pay back the amount borrowed could put the home at risk.
  • Credit card: Those with good credit may qualify for a credit card with 0% APR for 12 to 18 months. As long as the balance is repaid within this time, there will be no interest charges.
  • Health Savings Account (HSA): Fertility treatments are considered qualified medical expenses, meaning an HSA could be used to fund them. There are contribution limits, though, so it can take time to set aside the required amount for treatment.
  • Crowdfunding: It may be possible to raise funds online through platforms like GoFundMe.
  • Negotiate: Smaller clinics are sometimes willing to lower the cost of IVF, especially for those who undergo multiple cycles.
  • Payment plan: Some fertility clinics offer payment plans to help patients pay for the procedure.

IVF Loans Related Articles 

 

Conclusion

Overall, there are several ways to finance IVF and make the procedure more accessible to couples who may not have the resources to pay for it upfront. By exploring your options and working with reputable lenders and fertility clinics, you can find a solution that works for your unique financial situation.

IVF financing is available to those who need help funding the procedure. This includes personal loans and other infertility loans. Some insurance providers will cover all or part of the cost of fertility treatments. Even if they don’t, some fertility clinics will work with patients by setting up a payment plan or offering discounts.

Whatever the case, it’s a good idea to create a budget and a plan. Be prepared to undergo multiple sessions, since IVF doesn’t always work on the first try. Also, speak with your clinic about any other costs associated with the procedure.

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IVF Personal Loans FAQs

Can I use a personal loan for IVF?

Some lenders offer personal loans for fertility treatments, including IVF. Loan terms and interest rates depend on things like credit score and DTI, so keep this in mind. When in doubt, go through a lender that uses a prequalification tool. This will let you see what you could qualify for without affecting your credit score.

What is the minimum cost of IVF?

Every clinic charges its own fees, so the minimum cost of IVF varies. Unless your health insurance provider covers it, expect to spend at least $10,000 per treatment. This may not include additional fees, such as medications or clinical testing.

How long is the IVF process from start to finish?

A single round or cycle typically takes 3 to 6 weeks. Those who require additional consultations or testing may need 8 weeks or longer.

Article Topics

angelawatson
Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.