IVF loans: How to finance IVF and fertility treatments

You’ll need excellent credit and a solid income to get good rates on IVF loans. However, the best IVF financing for your cycle may come down to how much you need and how quickly you get the funds. Infertility procedures are unpredictable and expensive. A last-minute delay or challenge could cost hundreds, if not thousands of dollars for additional fertility drugs or specialized medical services.

Choosing a personal loan for IVF can give you access to funds the same day you apply. That can be a lifesaver if you’re waiting for insurance approval or need more cash to pay the expense upfront. And with IVF loan amounts available up to $100,000 at some lenders, you can access enough to pay for a cycle at a top ranked clinic to improve your odds of success.

That said, they come with risks and a fixed monthly payment you’ll need to budget for while continuing treatment. Choosing the best IVF loan requires a detailed look at your finances, insurance coverage and financing choices offered by your IVF clinic.

Best IVF loans

To help you choose the best IVF loan, we’ve reviewed dozens of personal loan lenders that can fund various costs before or during an infertility procedure. Timing is critical during any IVF cycle. Having your financial bases covered keeps you focused on the rigors of infertility drug shots, uncomfortable exams and the recovery period while you wait to find out if the procedure worked.

Whether you need a quick $1,000 loan to cover a couple of extra (and expensive) days of infertility drug treatments or $100,000 to fund a series of IVF cycles at a clinic with a high success rate, the following lenders may be worth learning about.

The rates and terms displayed apply to the IVF program for each lender only. Standard personal loan rates may vary. 

LendingClub

LendingClub offers the most cost-effective and flexible IVF loan options of the lenders we reviewed. Its Patient Solutions program specifically caters to infertility cycles. The funds can be used for IVF, egg freezing and donor services. LendingClub offers loans through several fertility clinics, meaning payment processing can be done directly at the clinic.

The program offers APRs as low as 3.99 percent for qualified borrowers, much lower than the 8.98 percent minimum LendingClub offers to other personal loan customers. It also allows for repayment terms up to 84 months, resulting in a more manageable payment while you’re going through treatment. Just be sure to adjust your loan amount to cover fees — LendingClub charges between 3 and 8 percent and deducts the amount from your funds.

LightStream

LightStream may be a better fit for high-cost IVF clinics, with loan amounts available up to $100,000. You can get an APR discount of up to 0.5 percent by setting up automatic payments and you won’t pay any origination fees. LightStream can also process your application over the weekend, which gives you a head start if your infertility doctor calls you with costly changes to your treatment plan on a nonbusiness day.

The fine print on its IVF loan page shows repayment terms can range from 24 months to 240 months, while its standard personal loan page shows a term up to seven years. Check with the lender to see what options apply to the fertility financing program.

To qualify, however, you’ll need to be in a solid place financially. LightStream has a minimum credit score requirement of 695.

SoFi

SoFi sets a credit score minimum of 680 for its IVF loans, making it a good alternative if you need a large loan but don’t meet LightStream’s 695 threshold. If needed, you can borrow up to $100,000 and spread the payments out over seven years. There are no mandatory fees with the SoFi IVF loan, which means you take home whatever you borrow.

SoFi also offers same-day funding. In fact, according to SoFi, over 80 percent of SoFi personal loan users in 2022 received their funds before 7 p.m. ET on the same day their loan was approved. A bonus: You can add a co-borrower if you need someone else’s income to qualify for a high loan amount, though the approval process may take longer.

Upstart

Upstart doesn’t offer a dedicated IVF loan program. However, if you need a small loan for an unexpected IVF expense, Upstart’s $1,000 minimum loan limit is lower than many other lenders. Suppose your credit score has taken a hit from maxing out credit cards to cover infertility expenses. In that case, Upstart sets a 300 FICO minimum score — the lowest possible score and the lowest of most bad credit personal loan companies.

The downside is that Upstart loans are pricey, with origination fees up to 12 percent of your loan amount deducted from your funds. You could also face a much higher monthly payment with terms limited to 36 and 60 months.

How to choose the best IVF loan

To pick the right IVF loan, you must know how much is required, when you’ll need it, whether you qualify for it and what each lender offers.

1. Determine how much you need to borrow

Unless you plan to pay for an entire IVF treatment, it may be easier to zero in on a specific amount at first. The good news is you have fast access to last-minute cash since many IVF loan lenders offer same-day funding. Worst case, it might take a business day or two, but that’s usually enough time to get the funds you need for an upcoming IVF cycle.

Talk to your IVF clinic’s billing department to see if they offer some flexibility with how much you pay and when you pay it since an entire IVF cycle can take up to 45 days. That may give you more time to budget between cash and financing. Also, depending on your employer and where you live, some or all of the cost may be covered.

2. Find out what you have to pay for and when

Make friends with the IVF billing department at your clinic. They may have flexible options regarding what you pay for and when you pay for it. Although each clinic’s process can vary, you’ll generally take the following steps:

• Get a consult. This fee is generally at most $450 and covers the cost of reviewing your case and discussing your treatment plan with the infertility doctor. It’s payable upfront and is nonrefundable.
• Buy medication. Infertility drugs in the U.S. are expensive. You’ll pay a pharmacy or apothecary directly to get them. Many insurance plans only cover a portion, if any, of the cost.
• Budget for special IVF needs. ICSI and PGT-A are specialized tests that allow the doctors to analyze and choose the embryos with the best chance of success. That could add an extra $1,800 to $7,000 to your total bill, depending on what the doctors find.
• Pay the day your embryos are transferred. This is the big day when, if all goes well, the doctor transfers embryos and you wait two weeks to see if it worked. Payment for the IVF bill is typically due on this day, assuming everything has gone as planned. You can expect to pay the largest amount at this stage in an IVF.

3. Check your financial health

Besides taking a toll on your emotional and physical health, IVF can have a major impact on your finances. Although IVF health insurance coverage is more common now, it doesn’t typically cover the entire cost of an infertility cycle.

If you know IVF financing is in your future, take steps to boost your credit score by paying down your credit card balances. Avoid applying for new credit and keep your payments on time. The average personal loan rate for a high credit score can be up to three times lower than what you’ll pay for a bad credit score.

If you’ve already racked up credit card debt paying for infertility treatment, consider a debt consolidation loan. Paying off revolving debt is one of the fastest ways to increase your score quickly, though you must take the time to find the best debt consolidation rates ahead of applying to keep your monthly payment low. There’s also a catch: You must avoid using the credit cards you pay off again to get the maximum credit score boost.

4. Shop IVF loan lenders

IVF loan programs are often tied to fertility clinics that partner with select lenders. Standard personal loan rates may be higher or require that you receive funds and pay the clinic bills yourself.

It’s a good idea to check with your local bank or credit union to see if they offer lower rates or fees for the amount you need. Also, if your credit is in near-perfect shape, you may qualify for excellent credit rates than IVF loan lenders offer. Just remember: You’ll need to pay the clinic directly if you don’t work with a lender affiliated with an IVF provider.

What is an IVF loan?

IVF loans are personal loans to pay for the cost of infertility treatment. They’re usually unsecured, so you won’t need to put anything up for collateral. Rates range between about 8 percent and 35.99 percent, depending on your credit score, loan amount, repayment term and where you live.

According to Resolve, the National Infertility Association, one in six people have infertility challenges worldwide. Only 19 U.S. states have an insurance mandate to offer or cover some infertility procedure costs. Because the Affordable Healthcare Act doesn’t require infertility treatment coverage, most policies limit what is covered. This means in almost all cases, infertility patients have to pay cash for or finance a portion of IVF treatments.

Average cost of IVF and fertility treatments

IVF costs vary by city. The table below breaks down each type of IVF cost in major U.S. cities and regions based on data collected by FertilityIQ.

Source: FertilityIQ

IVF loan requirements

IVF loan requirements are typically the same as standard personal loan requirements regarding your income, credit and debt. Additional requirements are usually related to whether the lender offers a loan at a particular IVF clinic.

• Credit score. The lowest rate, longest terms and highest loan amounts are offered to borrowers with excellent credit. If you need an IVF loan for bad credit, you can expect much higher APRs, and may be restricted to a shorter term or smaller loan amount.
• Income. Because most IVF loans are unsecured, your income and job history are especially important for approval. You may not qualify if you receive variable income like tips or commissions. Consider a co-borrower if you get denied for a personal loan on your own.
• Debt. IVF lenders evaluate how much of your paycheck is spent on debt before they offer you a new loan. This is known as your debt-to-income (DTI) ratio. The less debt you have, the more likely you will get approved for an IVF loan.
• IVF clinic. Specialized IVF loan programs may only be available through affiliated clinics. Lenders typically provide a list of approved clinics on their websites. You can always take out a regular personal loan if your IVF center doesn’t partner with a particular lender.

Pros and cons of IVF loans

Weigh the benefits and drawbacks of IVF financing before you commit to an IVF cycle. It’s much harder to think clearly when you’re in an IVF procedure.

Pros

• You can get money faster than other financing sources.
• Some programs pay your IVF provider directly.
• Repayments can be spread out over seven or more years.
• You won't tie up home or vehicle equity to qualify.

Cons

• Rates may be as high as 36 percent.
• Origination fees may be as high as 12 percent for bad credit.
• Lenders may set restrictions on clinics you can choose.
• You're stuck with a payment reminder if the IVF fails.

Alternative fertility treatment financing options

An IVF loan is just one of many financing options you can choose from to finance fertility treatments. You can also select one of these options in addition to taking out an IVF loan.

Credit card

For smaller fertility-related costs that you can pay off in the next year, check out credit cards that offer 0 percent introductory APRs. They typically give you 15 months to pay the balance off before interest accrues. You need to be completely sure to pay the balance off before the promotional period ends to avoid paying credit card APRs that can be 25 percent or higher.

Home equity loan

Some IVF patients use home equity loans to finance fertility procedures if they have a lot of home equity. Home equity loan terms can be 30 years, giving you a much lower payment.

Drawbacks to home equity loans include a longer approval process — sometimes more than 45 days — and tougher qualifying requirements. And since home equity loans are secured, you risk losing your home if you can’t repay the loan.

Home equity line of credit

Home equity lines of credit, or HELOCs, are like credit cards secured by your home. They can come in handy since you only use what you need and can pay it down to zero for the first 10 years of the loan. It’s a good choice if you’re planning an IVF but don’t need the funds yet.

You’ll only need to make payments on the amount you withdraw, so you’re not stuck with a large, fixed installment loan payment like you would be with a home equity or personal loan. Like a home equity loan, you risk losing your home if you default. You’ll also have to pay it off if you sell your home, which means you’ll take home less profit from the sale.

Cash-out refinance

A cash-out refinance replaces your existing mortgage with a new larger mortgage, and you pocket the difference as cash. Some programs like the FHA cash-out refinance allow you to qualify with credit scores as low as 500. Like a home equity loan, you receive all your funds at once and can spread your payment over 30 years.

One major disadvantage is that current mortgage rates are at multi-decade highs. You could end up paying a rate three times higher, especially if you financed your home during the record lows from 2020 to 2022. And like a home equity loan and HELOC, your home could be foreclosed if you default.

401k loan

If you have money vested in a 401(k), you should find out if you’re eligible for a 401(k) loan. This can be an easy way to pay for fertility treatments without tapping into your personal savings account. The drawback is that the funds you borrow against won’t work for you until the loan is paid off. You must also pay the loan back within five years to avoid IRS penalties.

States that mandate some type of infertility insurance coverage

One of the first steps to take after checking a fertility clinic’s success rate is to find if treatment through that clinic is covered by your insurance. IVF treatment coverage can vary drastically between employers and insurance companies. You should also check to see if you live in a state that mandates some type of fertility treatment coverage.

• States that require infertility insurance coverage

  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Hawaii
  • Illinois
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Montana
  • New Hampshire
  • New Jersey
  • New York
  • Ohio
  • Rhode Island
  • Texas
  • Utah
  • Washington, D.C.
  • West Virginia

Those who have insurance through a state exchange may also have IVF coverage. Some states, such as California and Texas, require that insurance companies within their state offer IVF coverage. To find out the insurance coverage requirements where you live, check the National Conference of State Legislatures (NCSL) website, which details IVF coverage requirements for many states.

Bear in mind, however, that the extent of health insurance coverage for IVF will vary significantly depending on the health insurance company and even the state you live in. For instance, in New Jersey health insurers must provide coverage for the diagnosis and treatment of infertility. This mandate includes covering in vitro fertilization.

In contrast, Louisiana’s laws state that while insurers are prohibited from excluding coverage for the diagnosis and treatment of conditions that result in infertility, insurers are not required to cover fertility drugs, in vitro fertilization or other assisted reproductive techniques.

The bottom line

Choosing the best IVF loan requires careful consideration of your financial situation, insurance coverage and financing options — preferably before you’re in the thick of treatment. Remember, the ultimate goal is to achieve a successful IVF cycle and bring home a healthy baby without strapping yourself financially.

By being proactive and informed about IVF loan options, you can make the best decision for your situation and increase your chances of success. Don’t let financial barriers stand in the way of your dream of starting a family — explore all the options available and take the first step towards parenthood.