Financing Options for Surrogacy and IVF

May 8th, 2015

For anyone who struggles with infertility, the financial impact is just one more stressor to add to an already heaping plate. But you do have options. Choosing to create your family through surrogacy and IVF is expensive, but there are options that can make coming up with the money you need a little easier.

Surrogacy can cost as much as $75,000-$100,000 dollars including agency, surrogate and legal fees. That’s as much as a small house (or a very nice car) in some areas. But children are priceless and many families are willing to do whatever it takes to welcome a little one into their home. Here are some strategies commonly used by Intended Parents.

Home Equity Loans

If you have equity in your home, you may be able to tap into it by applying for a line of credit, refinancing or taking out a second mortgage. Consider this option carefully before making a decision. While you will likely have a fixed rate option, a long repayment term and possible tax deduction, it’s not without risk. If you take on more mortgage debt that you can afford, you could lose your home.

Credit Cards

Some IPs choose to use credit cards or cash advances from credit cards to pay for some or all of their IVF or surrogacy expenses. Unfortunately, interest on your outstanding balance adds up fast. You could end up with more interest expense than your original cash outlay.

Borrowing from Retirement Accounts

It may be possible to borrow from 401k, IRA or other retirement funds. This should not be considered without speaking to a financial advisor. Taxes and penalties may apply and could be expensive. There are many complicated factors involved.

Loans from Friends or Family

Your nearest and dearest may be willing to lend or give you part or all of the cash you will need for surrogacy. Think carefully about your current relationship and how it could affect the relationship in the long run. It’s not always wise to mix family and money.

Unsecured Loans

Some loan companies are happy to finance your future family. Surrogate Solutions partners with one such lender – LightStream. LightStream offers low-interest, unsecured loans for couples and individuals with good to excellent credit. LightStream loans are available in amounts between $5,000 and $100,000, and can be used for all assisted reproduction needs, including surrogacy, IVF, and medications.

To learn more about the costs of surrogacy and IVF and your family’s financing options, contact the experts at Surrogate Solutions. They have helped many families successfully navigate their surrogacy journey and they would love to help you as well.

Keep Reading! Related Topic: What Are the Costs Associated with Surrogacy?

Making “Cents” of Surrogacy

March 8th, 2013

Although it can be a dream come true, surrogacy can also be highly expensive for intended parents. From agency fees, to insurance, IVF procedures, attorneys, and financially supporting the surrogate, costs can add up very quickly. While many intended parents view surrogacy as a miracle, they also often face concerns and doubts regarding the financial aspect. Fortunately, there are several methods of financial help available to intended parents looking to pursue surrogacy.

  • Infertility loans. Infertility loans are becoming increasingly popular for intended parents considering surrogacy. These loans are unsecured lines of credit where lenders will view your credit history to determine your eligibility, how much you can borrow, and on what terms. When comparing fertility loan companies, be sure to find out exactly what the loan will cover.
  • Home equity loans. For homeowners, using a home equity loan or line of credit may be a viable alternative to taking out an infertility loan. Something to keep in mind when evaluating an equity option is whether or not you think you will need that equity or line of credit in the future for a different use, such as a home repair or renovation.
  • 401(k) plans. It is possible to borrow from your retirement plan to pay for your surrogacy; however, there are important rules and restrictions to consider, regardless of the type of plan you have. You’ll need to apply for a loan from your 401(k) known as a “hardship withdrawal” and you will only be permitted to withdrawal your contributions, not your earnings. You may also be required to pay an early withdraw penalty of 10% if you do not make arrangements to begin repayment of the loan within a certain time frame.
  • IVF grants. A variety of grants and scholarships exist to help intended parents who are trying to build their families. Different grants will cover different costs and require different tasks from the applicants such as writing essays, traveling, or fundraising. It is important to fully do your research on all available grants before applying.
  • Agency payment schedule. Many surrogacy agencies are reasonable and will include a fee structure for surrogate payments or payment plans. These payment plans can be broken down as a certain amount of money due at matching, a certain amount due at contract signing, a certain amount due at transfer, and so forth. Many intended parents find this “pay-as-you-go” plan much more manageable and less stressful than paying everything at once.

With the high costs associated with fertility procedures, financing your journey can make all the difference. Thoroughly considering your financial options and working closely with your agency is the best way to gain a realistic idea of what you can expect financially while minimizing any unnecessary concerns. Surrogate Solutions prides itself in working closely with its surrogates and intended parents through every step of their exciting journey. If you are looking for additional resources on how to finance your surrogacy, please contact Surrogate Solutions today!