According to the Society for Assisted Reproductive Technology, the average cost of in vitro fertilization (IVF) is between $10,000 and $15,000. Many insurance plans provide limited coverage or no coverage at all for IVF, so if you are hoping to pursue this treatment, you may face large out-of-pocket expenses.
The good news is, if you can't pay for IVF outright, you have many options for IVF loans. You can borrow the money you need either from a specialized fertility financing company, from a lender that makes healthcare loans, or from a general personal loan lender willing to provide funds that can be used for any purpose.
We've reviewed 20 total financing options, including some offered by each of these different types of companies, to help you find the best IVF loans for your situation.
The 6 Best IVF Loans of 2021
Best Overall: LightStream
LightStream offers a fertility loan you can use for any treatments, including IVF or medications, making it our best overall option. Although not solely a fertility lender, LightStream offers a top-notch loan experience and fast approval with money distributed as soon as the same day.
Confidential application can be submitted from your computer or mobile device
Borrow between $5,000 and $100,000 at a competitive rate
$100 loan experience guarantee ensures you're satisfied with the process
Secure your money as soon as the same business day
Borrowers with a poor credit history will face difficulty getting approved
A general personal loan lender, rather than a dedicated fertility lender
No partnerships with clinics or pharmacies
LightStream is a division of SunTrust Bank and offers personal loans for many purposes, including fertility loans. The lender doesn't have a partnership with any fertility clinics or medication providers, so you'll need to apply for a loan yourself and use the proceeds for your care—which means it will be up to you to decide how much you need to borrow and to manage the money accordingly.
Despite this drawback, LightStream is our top choice because it charges no fees, has some of the most affordable interest rates in the industry, and offers a $100 guarantee that you'll be satisfied with the borrowing process. You can borrow between $5,000 and $100,000 and will get your money as soon as the business day you apply so there's no delay in starting your care. The entire application process can be completed online and is private so you can get your money without any hassle.
Best Streamlined Process: CapexMD
CapexMD is one of few lenders that is specifically focused on fertility loans, rather than just on providing general loans, making it the most streamlined lending process where you can go from application to care payments seamlessly.
A dedicated IVF lender in partnership with fertility clinics and pharmacies
One loan can be used to pay for medication, IVF, and third-party services including egg donors or surrogates
Interest rates are competitive and there are no annual fees
Easy online application process, and a decision is available within 24 hours
There is a $25 non-refundable application fee as well as a document preparation fee and an additional fee of $15 per $1,000 borrowed up to a maximum of $150
Loans are disbursed directly to your physician's office, and the lender coordinates with your doctor to determine the amount you need to borrow
Funds are sent within two business days, which isn't as fast as some lenders
CapexMD specifically lends to those seeking fertility treatment options. It partners directly with fertility clinics and pharmacies that provide IVF medication. This can streamline the process of securing financing and it also ensures the utmost confidentiality in the borrowing process, giving it the edge in the best streamlined process category. You can complete your entire application process online and will receive a decision within a day so you can move forward with borrowing quickly.
Rates on loans from CapexMD are competitive with other personal loan lenders, and you'll have a choice of flexible repayment terms. Their repayment calculator showed us rates that vary from 7.75% to 12.75% with repayment terms up to 60 months. There are also no annual fees associated with your loan. With CapexMD, you also have the option to finance Preimplantation Genetic Screening/Diagnosis (PGS/PGD) as well as to incorporate payments to third-party providers such as egg banks or donor and surrogate agencies all in one loan. This can make repayment simpler and cheaper.
Best for Bad Credit: Avant
Avant provides loans of up to $35,000 even to borrowers with low credit scores, while many lenders catering to borrowers with poor credit cap your loan at a lower amount. This makes it an ideal option for bad credit borrowers. It offers plenty of loan options, and you can use the funds for numerous things, including IVF.
Most borrowers have a credit score of 600 or higher, but it's possible to get approved with a score as low as 580
Funds are available as soon as the next business day
Full-featured app to apply and manage your account or talk to a live person for help
Interest rates of 9.95% to 35.99% APR are higher than many lenders
Not a dedicated fertility loan provider
No relationships with clinics, you'll receive the funds yourself
Avant isn't a dedicated fertility lender, but rather is a personal loan lender open to making loans to borrowers with credit scores as low as 580, which is why it wins our category for bad credit. When you borrow from Avant, you are free to use the money for any purpose, including covering the costs of your fertility treatment. Unlike many other lenders that cater to bad credit borrowers, you can borrow up to $35,000, which should be more than enough to cover your IVF cycle as well as any medications or add-ons you may need.
Because Avant is lending to subpar credit, its rates are higher than most, ranging anywhere from 9.95% to 35.99% depending on FICO score, debt-to-income ratio, and income.
When you borrow with Avant, you can complete your application online or with your mobile device, but customer service support is also available via phone if you need help from a human during the process. You'll get your money as soon as the next business day after applying, and checking your rates and eligibility for a loan will not affect your credit score.
Best for Low Rates: SoFi
SoFi is our best option for low rates because it gives borrowers the potential to get lower rates than other options on this list for those seeking IVF funding.
Get pre-qualified for a SoFi medical loan with no obligation and no damage to your credit score
Fixed rate loans are available for between 5.99% and 18.28% APR, and you can also shop for variable rate loans
No origination fee, annual fee, or late fees
Borrowers with a limited credit history or a poor credit score likely won't qualify
Not a dedicated fertility loan provider
You'll receive the funds yourself so will have to pay them out to your clinic or care providers
SoFi is widely recognized as one of the best personal loan lenders due to its competitive interest rates, as well as the fact the lender charges no fees or prepayment penalties, which is why it gets the nod for low rates. You'll have a choice of fixed or variable rate loans with SoFi and can borrow between $5,000 and $100,000 to use for any purpose you'd like including for fertility treatments.
Not only does SoFi offer an affordable loan that is completely fee-free, but it also offers ample borrower benefits unique to this personal loan lender. If you lose your job, for example, unemployment protections allow you to pause payments, and SoFi will actually help you find a new position. You'll also have a choice of repayment terms and can pay back what you borrow over a period of time between two and seven years. SoFi's medical loan can be the perfect choice for IVF due to this flexibility.
Best Personal Loan: Marcus by Goldman Sachs
Marcus offers personal loans at a competitive rate that come with unique borrower perks such as the ability to skip a payment after 12 on-time payments. Features like this that cater to individuals with all types of needs is why it’s our best personal loan option.
No fees and interest rates between 6.99% and 19.99% ensure loans are affordable
On-time payment reward allows you to skip a month of payments as long as you've made 12 payments on time
There's an autopay discount of 0.25% to reduce borrowing costs
The maximum loan amount is $40,000, which is below what some competitors offer
Not a dedicated fertility loan provider
You receive funds directly so must manage payment of your care providers
Marcus is our pick for the best personal loan because it's the general personal loan lender that offers the best combination of features. There are no fees with a Marcus loan, and you won't pay any prepayment penalties either. You'll have the flexibility to borrow between $3,500 and $40,000 and all Marcus loans are fixed rate loans so you won't have to worry about your rate or payment rising over the life of the loan.
You can also research personalized rates and terms with a quick online form in as little as five minutes and get a decision on approval within 24 hours or less if you decide to apply. While it can take up to five days to secure funding, which is a bit slower than some other lenders, you'll still have your money quickly. And you'll be eligible for special borrower benefits such as the ability to skip a payment after 12 on-time payments. Interest doesn't continue accruing during the skipped month, but this does extend your loan repayment period.
Best for Quick Funding: Future Family
Future Family is a dedicated IVF loan provider that allows you to get pre-approved in minutes and get funding in as little as 24 hours once your application has been signed. This speed is unmatched on this list, making it our best option for quick funding.
Interest rates as low as 7.99% to 15.99% make Future Family an affordable option
A dedicated IVF loan provider that offers not just financing but also support from fertility coaches who are registered nurses
Future Family pays your IVF clinic directly so you don't have to deal with the billing department or personally manage the money you're borrowing
Interest rates are a little higher than are available from some dedicated personal loan lenders
You'll need a credit score of 680 or higher qualify
Clinics and third-party service providers must be approved by Future Family to receive payment
Future Family focuses on providing loans for IVF, egg freezing, and other fertility treatments. The fact that this lender is a dedicated fertility loan provider streamlines the borrowing process, enabling timely loan approval and fast distribution of funds to your fertility clinic and approved third-party providers such as pharmacies. You can borrow between $5,000 and $50,000 through Future Family and can choose a repayment term lasting as long as 60 months. Rates vary from 7.99% to 15.99% based on credit history and income. There are also no prepayment penalties to worry about.
With Future Family, it takes just two minutes to submit your application for pre-approval. Once you've been approved, the money for your IVF treatment can be paid out to your provider within a day so there's no delay in getting started. Borrowers who secure a loan from Future Family can often qualify for discounts on medication and lab work and will also have access to registered nurses who can serve as fertility coaches during the treatment process.
What Kinds of IVF Financing Are There?
IVF loans can come from dedicated fertility lenders who often work directly with clinics and pharmacies. However, you aren't restricted only to using these IVF lenders. When you secure a traditional personal loan from a bank, credit union, or online lender, you can use the money for anything you want, including to pay for IVF.
IVF loans shouldn't be confused with IVF grants, as loans always have to be paid back but grants typically don't.
There are some grant programs out there that provide money to be used for IVF that you don't have to repay including the Hope for Fertility Foundation and the American Academy of Adoption and Assisted Reproduction Attorneys' Charitable Trust. Each grant program has different eligibility requirements, so explore your options carefully and follow the instructions to submit your application for funding.
Who Should Get an IVF Loan?
An IVF loan may be the right choice for you if a fertility care specialist has recommended you undergo in vitro fertilization and you don't have the funds to pay for your care.
IVF loans make the process costlier because you must pay interest on your loan. However, the interest rates from these loans are generally well below what you would pay on a credit card so they can be a better alternative than charging treatment. However, you may wish to apply for IVF grants or consider using your savings or borrowing from loved ones before committing to take out a loan to pay for your fertility care.
What Does an IVF Loan Cost?
IVF loan costs could include:
- Upfront fees such as application fees or loan origination fees if you are charged them
- Interest costs over the life of the loan, which will vary by lender and be determined based on your credit score, the amount you borrow, and your loan term
The higher your loan amount and the longer your repayment timeline, the more expensive your total loan costs will be. These loans are typically personal loans that aren’t much different than others on the market. You won’t find as affordable rates as you will on a secured loan, like in real estate, but it will be more affordable than a high-interest credit card in many cases.
We found rates between 5.99% and 35.99%. Your rate will depend on your personal credit and income profile.
How We Chose the Best IVF Loans
To select the best IVF loans, we reviewed personal loan lenders as well as dedicated fertility loan providers. We considered loan fees, average interest rate, the amount you could borrow, the time to approval and distribution of funds, and the process for receiving the money. The goal was to find affordable loans that provide convenient financing obtained through an easy, confidential application process.
Society for Assisted Reproductive Technology. "Frequently Asked Questions." Accessed December 28, 2020.