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Fertility services such as in vitro fertilization (IVF) often aren’t covered by insurance and the costs can climb quickly. According to the American Society of Reproductive Medicine, the median cost of an IVF cycle is $19,200, and some women go through six or more cycles of IVF.
Covering those costs outright can be difficult. With an IVF loan, you can cover the cost and pay it back in monthly installments. Fertility clinics sometimes offer these loans, but you can also borrow a personal loan from a bank or another financial institution.
Before accepting any loan, be sure to compare your options to find an affordable loan with low interest rates and fees.
Best Personal Loans for IVF Financing
Best Overall Personal Loan for IVF Financing
8.99% to 25.81%
BEST FOR LOW INTEREST RATES
7.99% to 25.49%
BEST FOR FAST FUNDING & BELOW-AVERAGE CREDIT
7.99% to 35.99%
BEST FOR BAD CREDIT
BEST FOR COMPARING MULTIPLE OFFERS
BEST FOR NO INTEREST IF REPAID WITHIN 30 DAYS
Compare rates from participating lenders via Forbes Advisor
BEST FOR LOANS AS LOW AS $1,000
BEST FOR A RANGE OF REPAYMENT TERMS
*Some APRs and loan amounts are available only for certain loan purposes.
The above personal loan rates and details are accurate as of November 1, 2023. While we update this information regularly, the annual percentage rates (APRs) and loan details may have changed since the page was last updated. Keep in mind, some lenders make specific rates and terms available only for certain loan purposes. Be sure to confirm available APR ranges and loan details, based on your desired loan purpose, with your lender before applying.
Summary: Best Personal Loans for IVF Financing
Tips for Comparing IVF Loans
The costs of taking out an IVF loan can vary from lender to lender, so it’s important to shop around and find a loan that fits your budget. As you compare your options, consider all the loan’s features to help guide your decision.
- Annual percentage rate (APR). Lenders offer a range of APRs, with the lowest rates typically going to borrowers with the strongest credit. A loan’s APR includes both the interest rate and fees, so it can be used to evaluate the total cost of a loan.
- Repayment terms. Each lender will offer different repayment terms, or the time you’ll have to repay your loan. Find out how long you have to repay the loan, as your term dictates your monthly payments and overall loan costs. You may see terms between one and seven years, though some lenders offer even longer repayment schedules.
- Loan fees. Look for any fees that could make your loan more expensive, such as an origination or administrative fee. Late penalties and prepayment fees could also add to your expenses.
- Loan amount. Some lenders offer a maximum of $50,000, while others let you borrow up to $100,000 or even $200,000. Look for a lender that offers the loan amount you need to cover IVF treatments.
- Time to receive the loan. Many lenders can issue personal loans quickly, with some disbursing the funds the same day that you’re approved. As you’re researching your options, find out how long it will take the lender to process your application and fund your loan if you need financing quickly.
- Credit and other requirements. Most lenders consider your credit, income and debt-to-income ratio when reviewing your application for a loan, but the specific criteria will vary. Find lenders that work for you and your finances.
What Are IVF Loans?
IVF loans are installment loans that help you spread out the cost of IVF treatment over time. These loans can help pay for the IVF procedure, including any medications, lab work or other components.
You don’t necessarily have to borrow an IVF-specific loan, but rather take out a personal loan to pay for IVF. Personal loans are flexible by nature, and you can use them for almost any expense, including medical costs.
By opting for IVF financing, you don’t have to pay the full cost out of pocket, but instead can pay it back on a monthly basis over a year or longer.
How Do IVF Loans Work?
Fertility loans typically provide a lump sum upfront that you can put toward IVF treatment costs. You’ll then repay the amount you borrowed in monthly installments over a set repayment term, which may span one to seven years or longer.
Most personal loans come with fixed interest rates that stay the same over the life of your loan. The interest rate, terms and loan amount you get will depend on your financial profile, including your credit score, income and debt-to-income ratio.
You can use a personal loan calculator to estimate the long-term costs of your loan. A $20,000 loan with a 12% rate, for example, will incur $6,693 in interest charges on a five-year repayment term.
Types of IVF Loans
When it comes to IVF loans, you have two main options: a loan from a fertility specialist or a personal loan.
- Loan from a fertility specialist. There are dedicated fertility lenders, such as Future Family and ARC Fertility, that specialize in IVF loans and may work directly with pharmacies and clinics. When you finance through a fertility specialist, the lender may send the funds directly to the fertility clinic, rather than to you. These loans may have higher fees than personal loans, but they could come with extra services, such as fertility support coaches.
- Personal loan. Another option is borrowing a personal loan from a bank, credit union or online lender. With a personal loan, the lender will send the funds to you directly, which you can then use to pay the IVF clinic and any associated costs. Interest rates may range from around 5% to 36% and will be based on your credit. Some lenders let you apply with a creditworthy cosigner if you’re having trouble meeting requirements on your own.
How To Apply For an IVF Loan
The application process can vary depending on whether you borrow from a fertility specialist or a general lender, but you’ll typically follow these steps to apply for an IVF loan:
- Check your credit. You can check your credit scores with a free credit monitoring service or by purchasing them from myFICO.com. Some credit card companies also issue free credit scores to cardholders. If you find any errors on your credit history, contact the credit bureaus to correct any mistakes.
- Prequalify. Many personal loan providers let you prequalify for a loan online, allowing you to check your rates without harming your credit score. Your rates aren’t guaranteed until you submit an official application, but this step can give you a sense of your loan offers and help you choose a lender.
- Compare rates and terms. Compare each loan’s interest rate, fees, repayment terms, monthly payments and other features to determine which one works best with your budget. Keep in mind that a shorter loan term will cost less interest overall but have larger monthly payments.
- Submit an official application. Once you’ve found a loan that works for you, complete a full application with your personal and financial details. The lender may ask for documentation to verify your address, income or other information. Make sure that the lender is legitimate before sharing any sensitive personal information.
- Receive your loan and start repayment. Depending on the type of loan you choose, the funds may go straight to the fertility clinic or get deposited into your bank account. Review your loan contract to find out when payments are due. You may be able to set up automatic payments, which lets the lender withdraw payments from your bank account on the due date.
We reviewed 29 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the 8 best lenders based on the weighting assigned to each category:
- Loan cost. 35%
- Loan details. 20%
- Eligibility and accessibility. 20%
- Customer experience. 15%
- Application process. 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.
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