| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Credit score required | Origination fee |
|---|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Long-term adoption loans | 6.99% - 25.49% (with autopay) | 24 to 84 months | $5,000 - $100,000 | Not specified | None |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Excellent-credit borrowers | 8.99% - 35.99% | 24 to 60 months | $2,000 - $50,000 | 560 | 1.00% - 7.99% |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Fair-credit borrowers | 8.49% - 35.99% (with autopay and other discounts) | 24 to 84 months | $1,000 - $50,000 | 580 | 1.85% - 9.99% |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Bad-credit borrowers | 7.80% - 35.99% | 36 and 60 months | $1,000 - $50,000 | 300 | 0.00% - 12.00% |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Joint adoption loans | 8.99% - 35.99% | 24 to 60 months | $5,000 - $50,000 | 620 | 1.99% - 6.99% |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Interest rate discounts | 8.99% - 29.99% (with discounts)* | 24 to 84 months | $5,000 - $100,000 | 680 | 0.00% - 7.00% (optional) |
| APR range | 6.99% - 25.49% with autopay |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
One of the longest repayment terms on the market Large loans available No origination or late fees Competitive maximum APR | Only those with good-to-excellent credit are eligible No prequalification process Borrowers not enrolled in autopay can only repay via mail or their bank’s billpayer service |
LightStream (owned by Truist Bank) is an online lender that offers loans with flexible terms. Welcoming a new member to your family comes at a cost, but LightStream’s maximum loan amount of $100,000 and extended repayment terms may ease some of the burden. However, you’ll need to agree to a hard credit pull to learn if you qualify — LightStream doesn’t offer prequalification.
Read our full LightStream personal loan review.
| APR range | 8.99% - 35.99% |
| Loan amounts | $2,000 - $50,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 1.00% - 7.99% |
| Minimum credit score | 560 |
| Pros | Cons |
|---|---|
Low minimum APR for the most qualified borrowers Flexible due dates Co-applicants allowed | Funding timeline can be lengthy Charges multiple fees (late payment, check payment, insufficient funds and origination) Not available to those with fair credit or lower |
Prosper is a peer-to-peer lender, which means that private investors will fund your loan rather than a financial institution or company. Unfortunately, this business model can make for a lengthy funding timeline (investors have 14 days to fund your loan). But if you have excellent credit, the wait could be worth it, as you could qualify for a competitive APR (as low as 8.99%).
Read our full Prosper personal loan review.
| APR range | 8.49% - 35.99% with autopay and other discounts |
| Loan amounts | $1,000 - $50,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 1.85% - 9.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
May be available if you have less-than-perfect credit Extended repayment terms Could have funds the next business day after approved Short-term hardship program available | High maximum APR Potential for high origination fee $10 late payment fee |
Upgrade is a fintech company that offers personal loans to a wide range of consumers, including those with fair credit. One of this company’s standout features is its hardship program. This benefit could provide breathing room if a situation arises, but you’ll need to call Upgrade for further details. It also offers a repayment term longer than most. Beware, though, of the company’s high origination and late payment fees.
Read our full Upgrade personal loan review.
| APR range | 7.80% - 35.99% |
| Loan amounts | $1,000 - $50,000 |
| Loan terms | 36 and 60 months |
| Origination fee | 0.00% - 12.00% |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
May be available to those with bad or no credit Low minimum APR for qualified borrowers Can prequalify before applying | Origination fee can reach 12% Repayment term not as flexible as some lenders No joint loans |
Upstart is a lending platform that issues personal loans through partner banks. Rather than relying on credit score alone, Upstart also considers your education, employment and financial background. It also has a minimum credit score of 300. There’s no guarantee you’ll be approved, but Upgrade may be the best option if you have no credit or bad credit. Excellent-credit borrowers may also see APRs as low as 7.80%. Note, however, that Upgrade loans can come with an expensive origination fee.
Read our full Upstart personal loan review.
| APR range | 8.99% - 35.99% |
| Loan amounts | $5,000 - $50,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 1.99% - 6.99% |
| Minimum credit score | 620 |
| Pros | Cons |
|---|---|
APRs are on the low end Multiple APR discounts, including a co-borrower discount Same-day approval decisions | Charges an origination fee High minimum loan amount Fewer repayment terms than some |
Couples looking to adopt may want to prequalify for a loan through Achieve. This lender not only offers joint loans, but also an APR discount for co-borrowing. Discounts notwithstanding, Achieve tends to have competitive APRs and can approve you for a loan quickly — however, you’ll need to borrow a minimum of $5,000.
Read our full Achieve personal loan review.
| APR range | 8.99% - 29.99% (with discounts)* |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 0.00% - 7.00% (optional) |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Loans up to $100,000 Wide variety of repayment terms No required fees | Need good credit or better to qualify High minimum loan amount Relatively high minimum APR |
Eligible borrowers could get a SoFi personal loan of up to $100,000 to help pay adoption costs. You’ll need good credit or better to qualify. SoFi offers a 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount (if using an eligible SoFi account for direct deposit).
Read our full SoFi personal loan review.
Between home studies, lawyer and agency fees, travel expenses and more, adopting a child can cost tens of thousands of dollars. While this expense is worth it for many, it does cause a barrier for entry that some potential adoptive parents have a hard time hurdling. That’s where an adoption loan might help.
An adoption loan is a personal loan used to help fund the adoption process. Potential borrowers fill out an application — if approved, they’ll receive their funds in a lump sum, which can be used for nearly anything. Then, the borrower will begin repaying their loan in monthly installments, usually about 30 days after the loan is disbursed.
Welcoming a new member to the family is a joyful occasion, but such a big change can also be stressful — the same may be true when borrowing money. Learning how to compare adoption loans could empower you to find the lender that’s best for your unique situation.
When reviewing your loan offers, pay attention to:
Eligibility requirements: Some lenders specifically cater to borrowers with excellent credit, while others are willing to take on people with rockier credit. Get your free credit score to know where you stand and target lenders with attainable eligibility requirements.
APRs: The higher your APR, the more expensive your loan will be. If you have excellent credit, compare minimum APRs across lenders. If you’re shopping for bad credit loans, look at maximum APRs.
Term lengths: Choosing a term length is a delicate balance. The longer your term, the lower your monthly payment — but the more interest you’ll pay over the life of your loan. Choose a term that provides affordable payments but also minimizes your total interest.
Fees: Keep your eyes peeled for excessive fees. Origination fees are quite common on personal loans, though not every lender charges them. Some lenders also levy fees for late payments, insufficient funds and paying by check.
Maximum loan amounts: Adoption can be expensive and depending on how much you have saved, you might need a large loan. Make sure the lender you’re applying for can supply the funds you need.
Customer service: The last thing you need after adoption is poor customer service from your personal loan company. Check out LendingTree’s lender reviews before committing.
Adoption loans are personal loans, and the best place to get a personal loan largely depends on personal preference. You can find personal loans online or at brick-and-mortar banks and credit unions. You may also be eligible for interest-free adoption loans, depending on your religious alignment.
Adoption grants are better because you don’t have to pay them back, but they usually provide less funding than personal loans. You may need to supplement your grant with a loan or crowdsourcing.
Before you can adopt, you must complete a home study. A home study evaluates your fitness to be a parent, including your living situation, physical and mental condition and finances. While you may not need to meet a certain income level to adopt, you must demonstrate that you are financially capable of caring for a new family member.