Best IVF Loans in 2023

Best for IVF loans for bad credit

Best for IVF loans for good credit

Best for IVF loans with long repayment terms

Best for IVF loans with competitive rates

Best for IVF loans with fast funding

Best for IVF loans with unemployment protection

IVF loans work like traditional personal loans. You’ll receive your loan in a lump sum and it will come with a fixed annual percentage rate (APR) and monthly repayment.

Unlike credit cards, IVF loans have hard stop dates, as long as you keep to your payment schedule. Loan lengths can last anywhere from 12 to 84 months, though some lenders may offer longer or shorter terms.

Fertility loans may also come with origination fees. These are administrative fees that some lenders charge and they typically come out of your total loan amount.

IVF loan pros and cons

While using a personal loan to finance your fertility treatments can be a good fit for some people, it’s not a one-size-fits-all solution for covering that expense. Consider these benefits and drawbacks before taking out an IVF loan.

The process for getting an IVF loan is similar to getting any other type of loan. Here’s what you may encounter during the application process:

• Check your credit score. Knowing your credit score can guide you toward which lenders you’ll most likely qualify with. It can also give you an idea of what sort of rates you may receive since lenders use your credit score to decide how much interest to charge you.
• Create a budget. Once you know your credit score and estimated APR, you can build a budget. A budget can give you an idea of how much you can afford to pay each month on your IVF loan. You can determine your potential monthly payment by using a personal loan calculator.
• Prequalify with multiple lenders. Many lenders allow you to prequalify for a personal loan at no cost to your credit score. This allows you to see what potential rates, terms and loan amounts lenders may offer you. Keep in mind, these offers are not set in stone.
• Choose a lender. After you prequalify with multiple lenders, narrow your search down to one lender. You’ll likely need to fill out a formal application and verify any information you provide such as your identity and income. The lender will also run a hard credit pull which can cause your score to drop, though only by a few points.
• Close on your loan. If your lender decides to officially approve you for an IVF loan, you’ll need to sign a loan agreement. The contract will outline the terms of your IVF loan so it’s important to understand what you’re signing. Each lender’s personal loan funding timeline will vary.

How to pay for IVF with bad credit

Bad credit can make it difficult to qualify for an IVF loan, but not impossible. Aside from bad credit loans, which can come with high APRs, there are other routes you can take that you can qualify with but also save money.

• Credit score improvement: Though it can add time to the process, if you improve your credit score, you’ll boost your approval odds and secure much lower rates. In some cases, it may be possible to raise your credit score by 100 points in 30 days.
• Family loans: To save money on interest and fees, consider taking out a family loan. Your loved ones may be willing to lend you money at a lower cost than a traditional lender would. Keep in mind that borrowing money can also create tension in your family, so it may be wise to create a personal loan agreement that both you and your lending family member sign.
• Cosigner loans: If your credit isn’t strong enough for you to qualify for a loan on your own, consider a cosigner loan. This allows you to add a second person to your loan application, usually a friend or family member. With a cosigner loan, you’ll both be legally responsible for making sure the loan gets paid off.
• Secured loans: While most IVF loans don’t require collateral, some lenders offer secured loans. This means you’ll need to back your loan with a valuable asset, typically a vehicle or savings account. If you don’t keep up with payments, your lender may repossess your collateral.

We reviewed more than 28 lenders that offer IVF loans to determine the overall best six lenders. To make our list, lenders must offer competitive annual percentage rates (APRs). From there, we prioritize lenders based on the following factors:

• Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
• Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
• Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.

LendingTree reviews and fact-checks our top lender picks on a monthly basis.