Loans for medical procedures might be a good option when you’re in need. It also helps you stay out of medical debt. Paying for health care in the United States is tough. According to a Commonwealth Fund report for 2019, even with health insurance, which should make it cheaper, the average cost of health care is between $ 360 and $ 1,500 per family.
For those who do not have good health insurance, the price can be much higher. The good news is there are various loans for medical procedures. They can greatly affect your finances and offer you affordable medical care.
Loans for Medical Procedures – Where to Apply?
The high cost of medical bills for small procedures makes one wonder how much the most-expensive surgeries must cost. Loans for medical procedures allow you to get a procedure done to improve your quality of life.
Many banks, online lenders, and credit unions offer medical loans. Some health care providers also offer loans for medical procedures. You are more likely to find them in a doctor’s office that provides expensive elective procedures, such as plastic surgery or cosmetic dentistry. In these cases, doctors know that patients are more likely to pay these bills out of their pocket, so they often have more funding options available than an average family doctor.
Loans for medical procedures are available with a variety of providers. However, not all lenders are created equal. Here are some of your best loan options for medical procedures.
SoFi is a great option to fund your next major medical procedure. Whether it’s for hospitals, specialist clinics, or even trips to the local pharmacy, SoFi can help you get through each phase of your health journey.
- Loans range from $ 5,000 to $ 100,000
- Term of 24 to 84 months
- No initiation fees or prepayment penalties
- No administrative or late fees
- Offers discounts for automatic monthly payments
- Limited flexibility in monthly payment dates
To apply or for more information, visit https://www.sofi.com/personal-loans/medical-financing-loans/
You can use an Upstart medical loan to pay for health expenses. As a medical financing option, you can use this loan for planned medical procedures and unexpected hospital bills. Also, if you already have a medical loan, combine multiple loans into one; it will help manage debts.
- Loans range from $ 1,000 to $ 50,000
- Term of 36 or 60 month
- Minimum FICO score of 600
- Restrictions on approved borrowers
- No prepayment charges
- Origination fees of up to 8.00%
- A late fee of 5% or $ 15
- Does not allow a cosigner
- Flexible monthly payment schedule
- Repayment must begin one month after receiving funds
- Monthly multiple payments can be made
- Loan extensions are not allowed however alternative payment methods for emergencies are available
To apply or for more information, visit https://www.upstart.com/medical-loans
For individuals with a good credit score, LightStream could be the best option to pay for medical procedures. Discount on medical loans is also available if you opt for autopay service.
- Loan amounts range from $ 5,000 to $ 100,000
- Term – 24 to 144 months
- Fixed interest rates
- Excellent creditworthiness is required
- Some restrictions on loan
- No fee
- There is no prepayment penalty
- There is no payment date flexibility
- Funds can be received on the day the application is approved
- One can make additional payments only on the principal
To apply or for more information, visit https://www.lightstream.com/medical-financing
Earnest offers a personal loan that can vary from debt consolidation to paying for medical procedures.
- Depending on where you reside, the loan amount can range from $ 5,000 to $ 75,000
- Term – 36 to 60 months
- Minimum FICO – 650 points
- No administration, prepayment, or late fee
- Fixed interest rates
- Cosigners are not accepted
- Flexible repayment schedule
To apply or for more information, visit https://www.earnest.com/personal-loans
Avant is one of the prestigious lenders in the United States for secured or unsecured loans. Avant allows you to cover your medical procedures, even with a bad credit score. Once the loan application is approved, the funds will be deposited into your account on the next business day.
- Loans range from $ 2,000 to $ 35,000
- Period of 24 to 60 months
- Loan approved within a day
- Fixed interest rates
- There is no advance payment
- Management fees reach 4.75%
For more information, visit https://www.avant.com/secured-personal-loans/.
Loans for medical procedures can help you with serious financial problems during medical emergencies. Medical procedures, regular doctor’s visits, or hospital transportation can cost you thousands of dollars. Consider loans for expensive procedures and stay healthy.